by Structured Settlement Watchdog®
Would a judge reviewing a structured settlement transfer petition approve the sale of a structured settlement at a discount to fund a trip to Bora Bora? Probably not.
Instead of a real financial need, predators Novation Settlement Solutions go for the impulse sell, in displaying an ad with the tell tale huts over a blue Pacific lagoon that Bora Bora is famous for, accompanied by the message that "we all deserve the trip of a lifetime". Novation asks "if you had the chance where would you go?". This is simply a ploy to groom and harpoon potential customers. You dream of Bora Bora, the Maldives, or Fiji, and they say they can make it happen to set your imagination and salivary glands in motion. The tease dilutes common sense and potentially leads to paying more than you would otherwise when factoring in the substantial cost of selling the structured settlement payments. This is because you have to sell much more than you need for the trip than if you had simply waited until the structured settlement payments arrived on schedule. If you were earning a salary instead of the structured settlement would you take a 50% pay cut so you could go on a trip? Of course you wouldn't! What happens when you get back?
Novation Settlement Solutions has already shown its colors in the Cedric Martez Thomas case, the naive young New York native who was harpooned by Novation and skunked for almost $1.5 million in present value last October.
But the operative question, given Novation Settlement Solutions pitch, is what is contained in the structured settlement transfer orders? Have you engaged with a Novation Settlement Solutions representative over this sales pitch? If so I am interested in speaking with you and discussing your experience.