If you win a HUGE jackpot or sweepstakes . . . like a $1.7 BILLION Powerball drawing . . . you usually have the option of accepting it as regular payments over time, or a smaller lump sum right away.
And, well, here's another case for the lump sum.
There's a story making the rounds online about a man in Oregon who won a Publishers Clearing House sweepstakes back in 2012, which pays him $5,000 a week . . . FOREVER. Technically, they paid it as $260K per year.
But this year, the check never came. And apparently, it NEVER WILL.
This past April, Publishers Clearing House filed for bankruptcy, and at least 10 former winners of "forever" prizes will no longer get their payments.
You might think, "Well, that sucks . . . but at least they got SOME free money throughout the years." But this guy says he's having a hard time finding a job, because he's been out of the workforce so long.
He also thinks he's going to lose his home, which he purchased expecting all those payments to continue . . . and he says he thought he'd be able to leave money to his children someday, and now, there's nothing for them.
Another "winner" in his position said, "You [promised to] change people's lives, and now, you messed it up."
Some winners DID receive all their money: Those who opted for the lump sum rather than the "forever payments."
A company bought Publishers Clearing House out of bankruptcy, and they'll continue running new contests . . . but they're only paying the FUTURE winners.
The winners under the previous business are being left out in the cold.
Read More HERE