Whether you are a seasoned worker or your are just entering the workforce, chances are you have some kind of debt. While it is nice to pay for things in cash, bigger purchases like cars and homes almost always require a loan. Below we have listed some of the most common types of debt in the U.S. today and some tips for paying them off if they are affecting you:

1. Car

You need your car to get to work and school, but a reliable vehicle doesn’t come cheap. If you are still making payments on your car, you are not alone. In fact, from 2014 to 2015, outstanding auto loans have grown from $866.44 billion to $943.76. One way to get some cash in your pocket to put toward your auto loan is to sell an annuity. When you sell your structured settlement or annuity payments, you can receive a lump sum that can be used to pay off your auto loan.

2. Credit Card

Many Americans have a tendency to get in trouble with credit cards. They are so easy to use when you have them on hand that it is sometimes hard to keep track of the debt that is piling up. If you have a structured settlement, an annuity or even a lottery annuity, but are faced with credit card debt, getting cash for structured settlement payments by selling them may be the way to go.

3. Student Loans

Student loan debt in America has gotten a lot of coverage in the news recently. Pursuing higher education is almost essential these days in order to get a well-paying job. Unfortunately, attending college is not without costs and many Americans are forced to make payments on their student loans well after they’ve graduated. When you receive cash for a structured settlement, a smart thing to do is to put it toward your student loans so that you can move on and enjoy working and making money in your field of study.

4. Mortgage

In the average American household, adults owe $11,244 in student loans, $8,163 on their cars and $70,322 on their mortgage. So, if you are like many Americans your home is your largest source of debt and owning your home someday is probably one of your biggest goals. If you are lucky enough to receive some extra income through lottery winnings, a structured settlement, or an annuity, putting those funds toward your home is a great way to start eliminating your debt.

5. Medical Bills

Did you know that almost 20% of credit reports are hurt by overdue medical bills? It’s true, health care in American is a huge expense and it is almost always unavoidable which is why it can be so crippling to so many. While having a savings account with funds that can be used for these types of expenses is essential, selling any annuities or structured settlements you have is also key to making sure you have available cash to pay for your medical needs.

Remember, if you have a structured settlement or annuity, you don’t have to live under the weight of debt. Find a purchaser and take the steps toward financial freedom today!