by Structured Settlement Watchdog®
In the absence of any secondary market regulator in Florida, in my opinion, an investigation should be done into the Cedric Martez Thomas deal in light of Novation Solutions' advertising. Novation acquired a high dollar value deal from a 21 year old last month that was approved in Okeechobee County which between Novation and 365 Advance bore a corpulent profit margin in excess of an estimated $1.4 million. Figuratively it's a case for a financial "Special Victims Unit"
Here is what Novation Solutions advertises
"Maximum payouts and quick decisions
Whether you are selling all or part of your structured settlement payment stream, you should make sure you can trust the company you are working with. Novation Settlement Solutions is the most respected purchaser in the industry, with a time frame guarantee if you don’t get funded in time. You should be able to access your money when you need it. Novation Settlement Solutions provides maximum payouts so that you can put your money toward your immediate needs".
Clearly Cedric Martez Thomas was no where near a "maximum payout". By comparison I was able to find multiple companies that would top Novation Solutions and 365 Advance Services. One buyer said they would have paid about $2.5 million in cash, compared to the $1,037,000 that the seller received.
When it comes to structured settlements, maximum payouts come from careful decisions not quick decisions.