Lotto Bankruptcy

Reply #8

rdgrnr — Sat, 31 Mar 2012 06:41:51 GMT

So many paranoid government-hating types here...

Actually, there are a few of the other type here too.

The ones who believe everything the government says and want the government to run every aspect of their lives. You know, the nanny-staters.

Those are the ones that will go down with the government ship as the Captain is boarding the lifeboat with his wife and two daughters while telling you everything is just fine.

Yeah, we have a few like that here too.

Reply #7

mediabrat — Sat, 31 Mar 2012 05:56:04 GMT

Is anyone going to bother to answer the actual question, or are we going to get a bunch of I don't care what the answer is, I'm taking the lump sum anyway responses? So many paranoid government-hating types here, it would be nice to get some factual info for once, preferably backed up with legitimate references.

Reply #6

GYM RICE — Sat, 31 Mar 2012 05:49:43 GMT

The day the lottery goes bankrupt will be the day the dollar is worthless. So it won't matter anyway. The reason you don't want to take the Annunity, is because taxes will never get any lower than they are now. Lock into the tax bracket now with a lump sum. And pay yourself with your own annuity.

Reply #5

Brcebrce — Fri, 30 Mar 2012 22:39:27 GMT

+1 Cash option is best. If you're worried about you speeding it all, buy your own annuity. Lotteries bring in a lot of money that is free. I think I saw a diagram that broke down the splits 35% of every dollar spent goes back to government. Compared to deficit its nothing but still, billions a year are billions a year.

Reply #4

dallascowboyfan — Fri, 30 Mar 2012 22:29:09 GMT

Reply #3

savagegoose — Fri, 30 Mar 2012 20:12:16 GMT

i think the lotto buy municipal bonds, frpm the state that they reside! what are the chances of a state going bankrupt

Reply #2

ohfive — Fri, 30 Mar 2012 19:44:26 GMT

I doubt the lottery will ever go bankrupt but to answer questions I would assume if a company goes bankrupt so would yours. if I ever hit any big lotto I will just do the1 lump sum payment.

Reply #1

haymaker — Fri, 30 Mar 2012 19:27:26 GMT

don't take the chance,take the cash.

Lotto Bankruptcy

aftermath — Fri, 30 Mar 2012 19:22:58 GMT

If you hit the Lotto and took the 26 annual payments and the Lotto goes Bankrupt will they stop paying you?

Ive seen a lot of things the last few years, such as the downfall of many Banks and the downturn of the economy that I often wonder if the Lotto would ever go bankrupt. Maybe not this year but there is no telling what would happen over the course of 26 years. Would Bankruptsy protection allow the Lotto to stop paying everyone