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  • STRUCTURED SETTLEMENTS 4REAL IS A POPULAR SOURCE OF SETTLEMENT INDUSTRY NEWS AND INFORMATION
    with a stable and growing readership targeted to settlement professionals, financial professionals, lawyers, injured persons and their family members, guardians, survivors, judges, magistrates, special masters, mediators, administrators, trust companies, insurance companies, financial advisers, insurance regulators, government leaders, the media and other interested parties. Established in 2005, the blog has been among the most prolific, providing fresh structured settlement, settlement planning and litigation recovery management content and commentary virtually every day! Structured Settlements 4Real is authored by John Darer, CLU ChFC CSSC RSP, President of 4structures.com, LLC, an actual participant in the structured settlement industry (be aware that a lot of material on structured settlements and other settlement planning issues is written by those that aren't). You won't find scraped content or "pay per post" fluff here! WHAT YOU GET is the straight stuff with a touch of irreverence. Comments ARE welcome, but subject to our comment filtering and track back policy (see below) You can subscribe to this blog through the blog reader associated with your Internet browser, or through the Feedburner or Feedblitz links on this page. You should also consider "book marking" or "favoriting" Structured Settlements 4Real so that you can return later and use it as a reference. Come back soon or subscribe through your blog reader!

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« Structured Settlement History Comes With Patrick Hindert's Dyasthema | Main | Hartford Life downgraded to "A" (Excellent) by AM Best & Company »

February 27, 2009

Structured Settlement Process... Forge Consulting Has Ass Backwards

"Once this agreement is made,  (Step 1) the defendant funds a stream of payments to the plaintiff, according to specific needs. In most cases,  (Step 2) the defendant then transfers the responsibility to a "qualified assignment," which (Step 3) funds the damage payments with an annuity".  FAQ on  Forge Consulting website 2/28/2009

The Structured Settlement Process Generally (after negotiations)
Step 1 Promise to Pay by Defendant and/or its insurer(s)
Step 2 Qualified Assignment (or non qualified assignment, if involving taxable/non qualified damages)
Step 3 Qualified Assignee Purchases Annuity or United States government obligations if a United States Treasury Bond Structured Settlement

A "qualified assignment" is not an entity as Forge Consulting suggests

Spooner Phillips, a principal of Forge Consulting was appointed by the NSSTA Board of Directors to be in charge of membership of the National Structured Settlement Trade Association. It's bad enough that that NSSTA has compromised its code of ethics in appointing Phillips who 4 years ago signed an affidavit to the United States Department of Justice attesting under perjury to one thing that controverted what he and his partners advertised to plaintiffs and trial lawyers. Now as to the above, as the face of NSSTA, shouldn't Spooner Phillips and his company be setting an example when it comes to financial literacy?

06:25 PM in Buffalo Structured Settlements, Financial Illiteracy, Financial Literacy, Forge Consulting, Forge Consulting Issues and Opinions, Georgia Structured Settlements, Misinformation About Structured Settlements, New York Structured Settlements, NSSTA, NYSTLA, Structured Settlement FAQ, Structured Settlement Illiterati, Structured Settlement Information |

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