I am a California state lottery winner. I opened a busness and assigned most of my winnings. The busness has lost and I am now looking for work. I still have the last three years left but California does not let you assign them for tax reasions. There is over 500,000 left and if I can't use it to get out of debt untell I get work, I will be on the street with my family. Need help fast
Insurance Law Lawyer
California lottery winnings cannot be legally assigned except by court order. Did you (or the lender) obtain a court order? If not, the assignment is not valid. Assuming you did assign your winnings with a valid court order, I don't think there is any way you can get the final three years' payments in advance. You cannot use those last three years as collateral for a loan or an advance. Speak with a qualified Washington bankruptcy attorney to find out whether bankruptcy will help with your situation.
If, by any chance, you assigned your lottery winnings without a court order, you have other options. I am including a link below to California's law on lottery assignments.