Structured Settlements 4Real: What's Real News in the Structured Settlements, Settlement Planning, Consulting and Lawsuit Recovery Space?

United States (Bank) of America

Fox Business says April 30, 2009, commenting on the government's putative conversion of $95B in preferred stakes in Bank of America and Citigroup to common shares:

"Do any of you agree that all of this government borrowing will vacuum up any spare private capital out of the markets and could drive 10-year treasury yields higher, causing mortgage rates to rise and sheer bedlam at the Federal Reserve, which has been blowing out its balance sheet, buying Treasurys (sic) to keep mortgage rates low?"

"And that our taxes are going to have to rise to pay for all this, right when inflation socks us because of the bailouts, now fast approaching the country’s entire GDP-as we struggle with a tax system that has a mass exodus of companies offshoring their profits because the code is a tangled barb wire of stupidity?"

Read about taxable equivalent yield to see how taxes affect a structured settlement

Many states have already announced increases in state income taxes.

1. Structured settlements are income tax free if the periodic payments represent damages for physical injury or physical sickness, or workers compensation (see IRC 104(a)(1) and 104(a)(2).
2. Tax deferral on non qualified cases as well as structured attorney fees are given a boost by the tax increases
3. The potential for rising inflation may require a multiple product solution.
4. Existing structured settlement recipients will, at least temporarily, have an increase in the intrinsic value of their structured settlements because of the tax increases without doing anything.

"Lawyers In Dallas" Structured Settlements For "The Estoned"

Here I was all excited after getting the Google news alert announcing Lawyers in Dallas "a New Blog on Structured Settlements and The Secondary Market". Then I discovered through a WHOIS search that the site's owner is Kalev Kompus (Kalev Kompus. +372 5 010 939...thats's Estonia!) who has simply thrown an eephus pitch.

Seems like "Kompus" has lost his true north.

Pingo Pango Ponzo Who Wants To End Up With Zero?

The Ponzi scheme du jour involves Danny Pang who allegedly defrauded investors in life insurance policies (life settlements/viatical settlements). These have nothing to do with structured settlements although it's bound to come up in the search results thanks to some moron with a made for Adsense website.

Read about life settlement Ponzi schemes on the Pullman Comley Secondary Market law blog

"NSSTA Has Softened Its View Of Factoring" -Patrick Hindert Report To SSP April 28 2009

According to our sources who attended, author and NSSTA legal committee member stated that "NSSTA has softened its view of factoring" during his presentation at the Society of Settlement Planners meeting in Washington DC yesterday.   I wonder what that means. I'll bet a whole slew of trial lawyers do as well.

Hindert's outrageous statement, in the same breath as reporting that factoring discount rates have increased from an average of 10% to an average of 20%, if proven true, would be both a credibility destroyer and potential self destruct button for the NSSTA.

The NSSTA established a Branding Commitee in June 2008 to examine ways to increase the structured settlement brand in a space dominated by the once bloated advertising budget of JG Wentworth and others and to counter blatant false advertising.

The settlement industry credibility on factoring is unfortunately, already on tenterhooks given that

1. Bentzen Funding Solutions appears to be the brokerage front for a cash now pusher, Structured Asset Funding. Patrick HIndert reported on October 26, 2008 in NASP Annual Meeting-3, that prominent settlement planners MIchael Upchurch and Jack L. Meligan said that "the "bad" part of factoring results from non-professional ("cash now") advertisements promoted by many factoring companies.  Such advertisements (characterized as "Jerry Springer-type" commercials) are unprofessional and damage settlement planners' relationships with plaintiff attorneys and reduce structured settlement sales. Meligan and Upchurch allegedly said that not only do plaintiff attorneys dislike "cash now" advertisements, they are also less likely to recommend structured settlements if they believe their clients will eventually sell their payment rights. They recognize and disapprove of the temptations created by such advertising. Meligan and Upchurch both predicted continued negativity toward the secondary market from the primary market so long as factoring companies continue such advertising.
Both consultants are believed to do business with Bentzen. What do they think about "cash now" advertising now?

2. Rhonda Bentzen has ostensibly admitted to paying off 90% of the structured settlement brokers who send business her way, many of whom are members of NSSTA and/or SSP.

3. Rhonda Bentzen is, or recently has been, membership chairwoman of the Society of Settlement Planners.

4. 95% of the industry not participating in a grass structured settlement transparency initiative. NSSTA disclaimed the initiative by memorandum to its membership

5. Little to no industry disclosure of factoring activities by industry members.

6. An industry member advertised that it was purchasing structured settlements in 2006. Download Forge Pay Per Click-Structured Annuity Buyer 9202006 and Download Forge Pay Per Click-Google-Structured Annuity Buyer 9212006 A principal of that firm is membership chairman of NSSTA.

7. The domain name of a factoring company was registered on the down low by an NSSTA member, until exposed by this blog.

8. NSSTA and a number of its members ostensibly attack the manufacturer of a viable structured settlement alternative, a product whose embodiment holds no need or ability to factor (and it's selling like hot cakes).

Is there a cover up some where?  I'm not making this stuff up!

123 Lump Bum

The factoring company Structured Asset Funding, with common ownership to Bentzen Funding Solutions, that Bentzen Funding Solutions used to fund the "Connecticut woman's" factoring deal through has a stinky egg on its face.

On the company website for its DBA, 123 Lump Sum, Structured Asset Funding lists "3 steps to cash now":

1. "Contact Us Today"

2. "Accept our Offer". They THEN state" and you're well on your way to CASH NOW. It's hassle free"

3. "Get your cash"

No interim or further steps are disclosed in the ad.

Questions/Comments:

If Structured Asset Funding advertises cash now, why would someone be "on their way" to CASH NOW upon accepting their offer?  NOW means immediate or at once, something that seems to be lost on these false advertisers.

After the 6 month experience of Connecticut woman dealing with Bentzen Funding Solutions and Structured Asset Funding "NOW" from these folks NOW has little credibility. How brazen of "Structured Ass" to keep doing so.

Questions To Ask About "Questions To Ask Your Structured Setllement Broker"

Appearing among the tips in a text link ad filled Google alert for structured settlements today:

"#1. Are you a member of NSSTA? The National Structured Settlements Trade Association is a reputable regulatory body within this industry. A broker who takes the time and makes the effort to join the NSSTA is bound to follow their guidelines on responsible behavior. This makes it more likely that you have found a reliable and trustworthy agent to work on your behalf".

FACTS:

1. The National Structured Settlements Trade Association (NSSTA) is a TRADE ASSOCIATION.

2. NSSTA IS NOT A REGULATORY BODY. As such the word "reputable" cannot logically be associated with NSSTA, in that capacity.

3. NSSTA does not have "guidelines for responsible behavior".

4. NSSTA does have a published code of ethics.

It is my experience that most settlement consultants are ethical,  yet it is a shame that NSSTA has not historically enforced or administered its code of ethics and has appointed members to committee positions whose actions appear to have violated its code of ethics.  Some say that its not a trade association's place to act as a "traffic cop".  Yet when you post a code of ethics, imply that members are bound by it in promotional material perhaps it crosses a line.

What do you think?

The Hartford Puts P&C Business on The Block -Reuters

Citing sources familiar with the matter, Reuters reports today that "Hartford Financial Services Group Inc. is trying to sell its property/ casualty insurance business, said Thursday, as the U.S. insurer reels from massive losses. Hartford has retained Goldman Sachs, which has been calling potential bidders for the property/ casualty business". The story was also carried in The Insurance Journal.

Reuters also reported that talks with Sun Life of Canada on the life side have ended.

Stay tuned.

AIG Structured Settlement Wiki by S2KM Has Not Been Maintained and Value Must Be Questioned

The AIG Structured Settlement Wiki was produced by S2KM Patrick Hindert in the third week of September 2008 and maintained through November 2008.

When a person spends an inordinate amount of time talking the wikis as S2KM Patrick Hindert does you'd think if you actually go to the wiki the information would be up to date. Unfortunately many of the S2KM wikis, such as the one about AIG are full of tumbleweeds

Hindert never got the whole story on AIG then; he was late to the party. He's still missing it now.

Much has happened since November 2008, including a massive corporate restructuring and rebranding in addition to more government monetary infusion.

Structured Asset Funding Pays Connecticut Woman FINALLY!

Late Supreme Court Judge Louis Brandeis was right, sunlight IS the best disinfectant or, in this case, motivator to pay up as promised. Structured Settlements 4Real has confirmed that the Connecticut woman who was apparently strung along for weeks by settlement planning industry factoring insider Rhonda Bentzen and her representatives has FINALLY been paid.  Details to follow...

Most Popular Structured Settlement Websites April 2009

Three Month Trailing Top 10 Traffic Rank (Alexa Rank as of 04/23/2009) of Structured Settlement and Settlement Planning Industry websites* (+ or- traffic from 03/24/2009 report). Lower number means more traffic (e.g. Google.com is ranked 1 in the overall scheme)

Who Are Ya?

1. Structured Settlements 4Real Blog (John Darer) 932,863-
2. Beyond Structured Settlements Blog (Pat Hindert) 2,635,866-
3. National Structured Settlement Trade Association (NSSTA) 3,011,800+ 
4. 4structures.com, LLC 3,210,338-
5. EPS Settlements Group 3,822,446+
6. Structured Settlement Services 4,064,534-
7. Ringler Associates, Inc. 5,076,929+
8. Millennium Settlements 5,948,257-
9. Delta Settlements 7,118,779+
10. Settlement Professionals 7,297,072-

 *Daniel Alvarez, JD, from Delta Settlements, who contributes to a Settlement Blog at Claris.com and HIgh Impact Structures, LLC have been omitted from the search results as their ISPs do not differentiate between them and the ISP itself.

FAST FACT: A November 5-6 2008 Zogby poll found that 37.6% of those asked consider the Internet the most reliable source of news.  Source: Media Bistro

Survey of structured settlement website traffic only covers USA websites of the creation side of structured settlements, including professional or associate members of the National Structured Settlement Trade Association (NSSTA) or Society of Settlement Planners, Inc. (whether individuals or firms), the association websites and alternative structured settlement periodic payment providers. Structured Settlements 4Real no longer publishes the names of unranked websites or those websites outside of the Top 10.

ONGOING STRUCTURED SETTLEMENT WEBSITE STANDINGS (this structured settlement survey began in April 2007)

Times Ranked #1 in 3 month structured settlement website traffic, as measured by Alexa: 

• Beyond Structured Settlements blog 12
• Structured Settlements 4Real blog 11
• Ringler Associates 1

Times Ranked #2 in 3 month structured settlement website traffic, as measured by Alexa:

• Structured Settlements 4Real blog 13
• 4structures.com, LLC 5 
• Beyond Structured Settlements 5
• Ringler Associates 1

If your company is not ranked high enough, consistently on the "where are ya" list or consistently unranked it's time to realize that nobody knows who you are on the Internet. Consider yourself urged on by Roger Daltrey, John Entwistle, Keith Moon and Pete Townshend.

Further survey criteria: Companies whose primary business is structured settlement factoring transactions are not counted in this survey because: (i) despite the propaganda and efforts of some to "frame" them otherwise, they are NOT part of the structured settlement industry- they are part of the cash flow, factoring or settlement purchasing industry; and (ii) the additional purpose of this survey is to identify legitimate sources of information for tort victims, their families, consumers, attorneys, judges or companies seeking structured settlements and the structured settlement brokers, certified structured settlement consultants, settlement planners, appointed structured settlement companies and agencies, United States Treasury structured settlement providers, or other financial professionals, who have the ability to deliver this information

Three Month Trailing Top 10 Traffic Rank (Alexa Rank as of 04/23/2009) of Structured Settlement and Settlement Planning Industry websites* (+ or- traffic from 03/24/2009 report). Lower number means more traffic (e.g. Google.com is ranked 1 in the overall scheme)

Who Are Ya?

1. Structured Settlements 4Real Blog (John Darer) 932,863-
2. Beyond Structured Settlements Blog (Pat Hindert) 2,635,866-
3. National Structured Settlement Trade Association (NSSTA) 3,011,800+ 
4. 4structures.com, LLC 3,210,338-
5. EPS Settlements Group 3,822,446+
6. Structured Settlement Services 4,064,534-
7. Ringler Associates, Inc. 5,076,929+
8. Millennium Settlements 5,948,257-
9. Delta Settlements 7,118,779+
10. Settlement Professionals 7,297,072-

 *Daniel Alvarez, JD, from Delta Settlements, who contributes to a Settlement Blog at Claris.com and HIgh Impact Structures, LLC have been omitted from the search results as their ISPs do not differentiate between them and the ISP itself.

FAST FACT: A November 5-6 2008 Zogby poll found that 37.6% of those asked consider the Internet the most reliable source of news.  Source: Media Bistro

Survey of structured settlement website traffic only covers USA websites of the creation side of structured settlements, including professional or associate members of the National Structured Settlement Trade Association (NSSTA) or Society of Settlement Planners, Inc. (whether individuals or firms), the association websites and alternative structured settlement periodic payment providers. Structured Settlements 4Real no longer publishes the names of unranked websites or those websites outside of the Top 10.

ONGOING STRUCTURED SETTLEMENT WEBSITE STANDINGS (this structured settlement survey began in April 2007)

Times Ranked #1 in 3 month structured settlement website traffic, as measured by Alexa: 

• Beyond Structured Settlements blog 12
• Structured Settlements 4Real blog 11
• Ringler Associates 1

Times Ranked #2 in 3 month structured settlement website traffic, as measured by Alexa:

• Structured Settlements 4Real blog 13
• 4structures.com, LLC 5 
• Beyond Structured Settlements 5
• Ringler Associates 1

If your company is not ranked high enough, consistently on the "where are ya" list or consistently unranked it's time to realize that nobody knows who you are on the Internet. Consider yourself urged on by Roger Daltrey, John Entwistle, Keith Moon and Pete Townshend.

Further survey criteria: Companies whose primary business is structured settlement factoring transactions are not counted in this survey because: (i) despite the propaganda and efforts of some to "frame" them otherwise, they are NOT part of the structured settlement industry- they are part of the cash flow, factoring or settlement purchasing industry; and (ii) the additional purpose of this survey is to identify legitimate sources of information for tort victims, their families, consumers, attorneys, judges or companies seeking structured settlements and the structured settlement brokers, certified structured settlement consultants, settlement planners, appointed structured settlement companies and agencies, United States Treasury structured settlement providers, or other financial professionals, who have the ability to deliver this information

Three Month Trailing Top 10 Traffic Rank (Alexa Rank as of 04/23/2009) of Structured Settlement and Settlement Planning Industry websites* (+ or- traffic from 03/24/2009 report). Lower number means more traffic (e.g. Google.com is ranked 1 in the overall scheme)

Who Are Ya?

1. Structured Settlements 4Real Blog (John Darer) 932,863-
2. Beyond Structured Settlements Blog (Pat Hindert) 2,635,866-
3. National Structured Settlement Trade Association (NSSTA) 3,011,800+ 
4. 4structures.com, LLC 3,210,338-
5. EPS Settlements Group 3,822,446+
6. Structured Settlement Services 4,064,534-
7. Ringler Associates, Inc. 5,076,929+
8. Millennium Settlements 5,948,257-
9. Delta Settlements 7,118,779+
10. Settlement Professionals 7,297,072-

 *Daniel Alvarez, JD, from Delta Settlements, who contributes to a Settlement Blog at Claris.com and HIgh Impact Structures, LLC have been omitted from the search results as their ISPs do not differentiate between them and the ISP itself.

FAST FACT: A November 5-6 2008 Zogby poll found that 37.6% of those asked consider the Internet the most reliable source of news.  Source: Media Bistro

Survey of structured settlement website traffic only covers USA websites of the creation side of structured settlements, including professional or associate members of the National Structured Settlement Trade Association (NSSTA) or Society of Settlement Planners, Inc. (whether individuals or firms), the association websites and alternative structured settlement periodic payment providers. Structured Settlements 4Real no longer publishes the names of unranked websites or those websites outside of the Top 10.

ONGOING STRUCTURED SETTLEMENT WEBSITE STANDINGS (this structured settlement survey began in April 2007)

Times Ranked #1 in 3 month structured settlement website traffic, as measured by Alexa: 

• Beyond Structured Settlements blog 12
• Structured Settlements 4Real blog 11
• Ringler Associates 1

Times Ranked #2 in 3 month structured settlement website traffic, as measured by Alexa:

• Structured Settlements 4Real blog 13
• 4structures.com, LLC 5 
• Beyond Structured Settlements 5
• Ringler Associates 1

If your company is not ranked high enough, consistently on the "where are ya" list or consistently unranked it's time to realize that nobody knows who you are on the Internet. Consider yourself urged on by Roger Daltrey, John Entwistle, Keith Moon and Pete Townshend.

Further survey criteria: Companies whose primary business is structured settlement factoring transactions are not counted in this survey because: (i) despite the propaganda and efforts of some to "frame" them otherwise, they are NOT part of the structured settlement industry- they are part of the cash flow, factoring or settlement purchasing industry; and (ii) the additional purpose of this survey is to identify legitimate sources of information for tort victims, their families, consumers, attorneys, judges or companies seeking structured settlements and the structured settlement brokers, certified structured settlement consultants, settlement planners, appointed structured settlement companies and agencies, United States Treasury structured settlement providers, or other financial professionals, who have the ability to deliver this information