Cut through the crap here! Structured settlement information and news, settlement planning issues/ ideas, alternative deferred payment solutions, muckraking commentary, exposes from The Structured Settlement Watchdog™ and expert opinion that may be helpful to attorneys, claimants, adjusters, judges, the news media and interested others, delivered with a dash of humor and occasional irreverence. Check back daily for something new, or simply ask structured settlement expert John Darer™ directly 888-325-8640
The 1961 Report of the Register of Copyrights on the General Revision of the U.S. Copyright Law cites examples of activities that courts have regarded as fair use: “quotation of excerpts in a review or criticism for purposes of illustration or comment; quotation of short passages in a scholarly or technical work, for illustration or clarification of the author’s observations; use in a parody of some of the content of the work parodied; summary of an address or article, with brief quotations, in a news report; reproduction by a library of a portion of a work to replace part of a damaged copy; reproduction by a teacher or student of a small part of a work to illustrate a lesson; reproduction of a work in legislative or judicial proceedings or reports; incidental and fortuitous reproduction, in a newsreel or broadcast, of a work located in the scene of an event being reported.” (emphasis added)
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Our article posted April 2, 2012 on our blog which includes a prominently displayed copyright notice.
While Imperial Structured Settlements cites this author as a source, there is no commentary and absent two removed lines it has copied our entire post (not an excerpt) and embedded links to itself. Imperial Structured Settlements then makes an audacious claim of copyright in our copyrighted material at the bottom of the page.
Imperial Structured Settlements DOES NOT have our imprimatur as the manner in which our copyrighted material has been presented implies. We did not authorize Imperial Structured Settlements to copy virtually our entire work and use it on its website to generate business. Setting aside the ludicrous discount rates it is notorious for, we neither are associated with, nor do business with, nor author articles for and do not respect companies like Imperial Structured Settlements who do not adhere to certain ethical standards in business as is evident by this example.
While we are on the subject of copyrights, 4structures.com, LLC and this author wish to remind others who have notions of "the lazy way out" that the statutory damages for copyright violations can be as high as $150,000 for wilful violators. Deemed wilful violations under the statute, include registering domain names using false information. Be guided accordingly!
Definition of scorching irony. A factoring company known for having among the highest discount rates writing a post that says "in structured settlements discount rates matter". Yes they do, Imperial Structured Settlements. YES THEY DO!
Imperial Holdings shareholders would have earned more by simply buying structured settlement payment rights instead of buying the company stock. The stock's price at the IPO February 7, 2011 was $10.75. It closed at $1.70 on December 2, 2011, an 84% drop! A $1,000,000 investment held until Friday would be worth about $160,000.
On September 27, 2011, after the close of trading, Imperial issued a press release announcing that it had been served with a search warrant issued by the United States District Court for the Southern District of Florida. The Company disclosed that “it and certain of its employees, including its chairman and chief executive officer, and its president and chief operating officer, are under investigation in the District of New Hampshire with respect to its life finance business.
Imperial buys structured settlement payment rights from annuitants as well as life finance. By its own admission in published SEC registration statements, Imperial's structured settlement factoring discount rates are typically in the high teens. While there is nothing illegal about that, it is important to point out that the higher the discount rate the lesser the amount of cash the seller of structured settlement payment rights will receive. Imperial is among those factoring companies who benefit from grabbing the "low hanging fruit" (those sellers who fail to shop around).
Another class action has been commenced in the Circuit Court of the Fifteenth Judicial Circuit in and for Palm Beach County, Florida on behalf of purchasers of the common stock of Imperial Holdings, Inc. pursuant and/or traceable to the Company’s IPO. The latest Complaint alleges that the Registration Statement and Prospectus issued in connection with the IPO were materially false and misleading and/or omitted to state that the Company had engaged in serious wrongdoing in connection with its life finance business, which would expose Imperial and certain of its employees, including its chief executive officer and its chief operating officer, to a criminal investigation by the FBI in conjunction with the United States Attorney’s Office for the District of New Hampshire.
RSL Funding has "lifted its leg" on the Imperial Holdings and Peachtree fire hydrants, with a press release announcing an office opening that is tantamount to leaving a "scent mark" on the latter two cash now pushers' Boca Raton Florida territory. The press release specifically mentions that the office opening is in view of the recent troubles faced by its two competitors.
According to published sources, "markings with scent not only indicate ownership, but also act as a canine bulletin board. You could call it doggy Pee-Mail. Scent communication left by urine tells other dogs who has been there before them, how long ago the mark was left, and other important information".
The scent of urine tends to fade as soon as it contacts the air. That’s why dogs constantly freshen up with new markings on top or nearby the original. That appears to be the case here. Last October, in "RSL Funding Bitch Slaps Imperial" we provide commentary on the original "scent mark". Sources say that "some pups become so enthusiastic, they seem intent on throwing their hip out of joint to "baptize" everything they can reach" That's our "Stewie"!
One thing that needs to be corrected about the recent RSL press release. Imperial Holdings and Peachtree are mischaracterized as "structured settlement companies". They are, in fact, factoring companies, or, as I "affectionately" refer to them, "cash now pushers". They do not create structured settlements, they acquire structured settlement payment rights from annuitants who sell those rights to them, subject to a state court approval process.
Numerous class action law firms concentrating on investor rights, consumer rights and enforcement of federal antitrust laws announced that they are investigating potential wrongdoing at Imperial Holdings, Inc. (“Imperial Holdings” or the “Company”) The firms'' websites state that the investigation focuses on whether Imperial Holdings violated federal securities laws by issuing materially false and misleading information about the Company’s true business and financial condition.
Meanwhile the mainstream media frenzy on Imperial Holdings is at fever pitch. The Street, MSNBC, CNBC... you name it!
According to a Bloomberg report this morning there was heavy put option activity prior to the Feds raid of Imperial's Boca Raton office and the announcement by Imperial that its Chairman and others were under investigation regarding its life finance business, 85 times the daily average. An official at one firm which sells option-market analytics opined "This feels like a trade with prior knowledge of a news event, or extraordinarily good timing". Yet a Columbia professor opined that the information could have been picked up in the hallways of the New Hampshire courthouse where the Federal search warrant was obtained and trading on information obtained in such manner is not illegal.
This author believes Imperial Holdings was the first cash now pusher to go public. It will be interesting to see investor appetite for an IPO the secondary market segment after this.
Cash Now pusher Imperial Holdings LLC was shut down and trading in its stock halted following an FBI raid at its Boca Raton, Fla., office on Tuesday. An FBI spokesman in Miami said agents were acting on a search warrant issued by the U.S. Attorney's office in New Hampshire. The New Hampshire office would not comment on the investigation according to this story in the Palm Beach Post
Imperial, which only went public 6 months ago, specializes in originating loans backed by life insurance policies and buys structured settlement payment rights stemming from lawsuits (at as we've reported above market discount rates), reported a profit of $12.6 million, or 59 cents per share, for the three months ended June 30. It reported a loss for the first quarter of 2011, as well as for the full years 2008, 2009 and 2010.
This latest news adds to the bummer for investors who have lost more than 40% on the stock since the IPO. I continue to feel sorry for the sellers of structured settlement payment rights who mortgaged their financial futures. Had they shopped around it is possible that they would have found that better deals were available.
I am eager to learn more about this story which has the potential to change the shape of regulation of the factoring industry.
Imperial Holdings said the following in a press release after business hours on September 27, 2011
"Imperial Holdings, Inc. ("Imperial") was served today with a search warrant issued by a Magistrate Judge for the U.S. District Court in the Southern District of Florida.
Imperial is a specialty finance company providing liquidity solutions with a focus on individual life insurance policies and purchasing structured settlement payments. The Company understands that it and certain of its employees, including its chairman and chief executive officer, and its president and chief operating officer, are under investigation in the District of New Hampshire with respect to its life finance business.
During the exercise of the warrant the Company fully cooperated. There has been no action taken against the Company's structured settlement business and the Company anticipates normal operations, across all of its business segments, will resume tomorrow.
"Today's action comes as a complete surprise. We are not aware of any wrongdoing and will cooperate fully with all relevant authorities to assist them in their investigation," said Antony Mitchell, chairman and chief executive officer, Imperial Holdings, Inc."
I want to emphasize that Imperial's structured settlement operations are in the secondary market. Lawyers who represent injured parties and plaintiffs who are contemplating structured settlements to resolve their lawsuits have no reason to be concerned.
Structured settlement sellers continue to exhibit poor shopping habits if the Imperial Holdings Q2 results are anything to go by. With a "weighted average purchase discount rates" of 18.3%, according to its press release, Imperial's business grew 73% from the same period in 2010. Moreover, repeat business grew 283% over the same period in 2010 as people could not get enough of " a good deal". Imperial states that a whopping "38% of all transactions come from existing customers".
In the August 11, 2011 press release Antony Mitchell, Imperial Holding's Chairman and Chief Executive Officer, commented, ""Our Structured Settlements (factoring*) business segment delivered exceptionally strong transaction growth during the quarter originating 245 transactions, a 73% increase over the second quarter of 2010 and 51% over the first quarter of 2011. Our repeat business grew 283% over the second quarter of 2010 with 38% of all transactions now coming from existing customers." Mr. Mitchell concluded, "Overall, we are excited with the increased business activity since the IPO (initial public offering) and are encouraged by the opportunities we see in the third quarter."
Under the "lemonade stand theory" of free enterprise, there is nothing illegal about the rates that Imperial Holdings (or any other factoring company that charges high discount rates) is getting away with charging and nothing herein is intended to be construed that way. Free enterprise is business governed by the laws of supply and demand, not restrained by government interference, regulation or subsidy. As it stands today there is no government regulation or interference with advertising and solicitation of structured settlement factoring transactions. Time as shown that dealing with solicitation of structured settlement factoring transactions appear to be too small potatoes for the Federal Trade Commission. Generally, as long as a court approves the transactions as being in the best interest of the seller (and if applicable, their dependents the deal goes through. It is critical however. to understand that the judge is under no obligation to do your shopping.
The structured settlement watchdog observes that Boca Raton based Imperial Holdings has a "lemonade stand" and their "lemonade" happens to be very pricey. He opines that when it comes to raising cash from structured settlement payments, those that settle for high discount rates may be doing so through laziness or ignorance (or perhaps because they have such a good relationship with the rep) they don't mind paying "over the odds", particularly those who are repeat customers. If customers were to simply shop around the market, in each instance, they might discover superior rates to the rates that Imperial Holdings publishes as their "weighted average" and even use these to try and bargain with Imperial. A lower discount rate will bring a seller more cash and will mitigate the amount of their guaranteed future income that they need to destroy.
Consider these facts from the Imperial Holdings press release
Weighted average purchase discount rate 18.3%<------- weighted average discount rate Imperial charged to sellers like you to price out how much they were going to pay you for your structured settlement payments.
Weighted average sale discount rate 11.6% <---- this is the weighted average discount rate that THEY are charged to unload the cash flow they bought from you.
Get my drift, yet?
* Imperial purchases structured settlement payment rights through a process legally defined under the United States Internal Revenue Code as a "structured settlement factoring transaction".To the best of this author's knowledge they do not place structured settlement annuities for plaintiffs or defendants.
RSL Funding claims victory in the tortious interference battle between it and competing factoring company Imperial Structured Settlements in a Harris County Texas Court. Imperial sued RSL claiming it had a selling structured settlement annuitant under contract, before RSL gazumped them with a better offer (see: Washington Square Financial LLC (DBA Imperial Structured Settlements) v RSL Funding LLC Cause 201049166 Judge : Jeff Shadwick)
According to RSL, Imperial argued that its proposed transfer agreement that had not yet been approved by a court is an enforceable contract with its customer, so that any competitor offering more money to the customer is subject to a claim for "tortious interference with an existing contract," when in fact, Imperial has no legal right to prohibit competition. RSL contended that a consumer deserves the best price and that the rights under the contact do not vest until the judge actually approves the deal.
In the "home town" win for RSL, the Texas court upheld the annuity recipient's right to continue seeking competitive offers until an enforceable contract with the customer is in place. As a matter of law, no structured settlement company can bind a customer to a transfer agreement until an application for transfer of structured settlement payment rights has been approved by the courts and not until an order of transfer has been entered by a court. Until these contractual prerequisites are met, customers are welcome (and encouraged) to continue looking for offers that serve their best interests.
Other Court structured settlement protection acts such as California, which this author understands to be the largest market for structured settlement factoring allow the payee to back out at any time right up until the court hearing.
Why shouldn't a structured settlement annuitant be able to shop around like "their mama" told them?
The RSL press releases continually cite to the Structured Settlement Institute, which the press release states is " a not-for-profit organization established to educate sellers of structured settlements regarding fair and equitable industry practices"
On the other hand the "About Us" section of the website for The Structured Settlement Institute say SSI "works with you and your long-term insurance based payments, to help you gain liquidity fast from the right company." I
It goes on to say...
"In a time of settlement buyers resorting to lumping your annuities or settlements in a large group in order to sell off (sic), The Structured Settlement Institute alone (sic). The Structured Settlement Institute is a principal that uses their own resources (i.e. $$$) and money to close the transaction. We don’t sell your annuity or settlement, instead we do what is responsible. We maintain our position of responsibility for the entirety of your transaction. Which will guarantee the court’s rulings are upheld and your money is distributed as agreed. The Structured Settlement Institute is bonded for all transactions"
According to Whois records with GoDaddy that were just updated June 14, 2011 (the day of the Court victory that RSL Funding claims against Imperial) the site is registered to Stewart Feldman, a Houston lawyer who is in charge at RSL. While I'm not suggesting any wrong doing, I think it would be behoove the Structured Settlement Institute to be a little more transparent.
Who runs it? Who are its directors? Who funds it? Is there an IRS form 990 that someone can supply to this author?
An article titled "Abuses by Aggressive Factoring Companies**", attributed to Hank Didier, Jr., an actively practicing plaintiff's trial lawyer from Orlando Florida, with an interest in factoring company Vantage Capital Consultants, has been posted on Injuryboard.com June 24, 2011. Vantage Capital Consultants is described as a buyer of structured settlements and annuities, founded to provide sellers with a consultative, fair, and transparent approach in an otherwise predatory marketplace that lacks adequate protections.
The structured settlement watchdog dispenses a "yellow card" to Mr. Didier for promoting his services by taking advantage of inaccuracies of others (that detracts from an otherwise well written article). Didier uses two invalid examples for predatory factoring discount rates at the expense of his competitors, Imperial Holdings and Peachtree. While i have been highly critical of discount rates employed by these two companies, I am interested in credible information. One would assume that as a trial lawyer representing injured parties, Mr. Didier should too.
First, Didier states "in one reported case of such abuse, it was observed that "in what appears to be a record high discount rate charged for structured settlement transactions, Imperial Structured Settlements, LLC tried to charge its customer an interest rate of 82%". Yet a June 25, 2011 Google search for "Imperial Structured Settlements 82% rate" comes up with press releases of RSL Funding, a competitor of Imperial and Didier. Download Imperial structured settlements 82% rate - Google Search
When I placed a call to Didier's office yesterday the individual I spoke to suggested the cite was really a cite of a cite (apparently a "cite of a press release by RSL Funding, a competitor of Imperial and Vantage) but not a "reported case in the "legal court proceeding" sense of the word. The RSL press release provides not a shred of evidence to support its statement about the purported "82% rate". The case linked to its press release has a 16.56% annual discount rate! In Imperial Holding's S-1 filing with the Securities Exchange Commission prior to its Initial Public Offering, it was represented that the range of discount rates were in the high teens. Indeed on October 2, 2010 RSL Funding issued a press release in which it wrote that Deborah Benaim, then an executive of Imperial, testified that discount rates were "averaging 18-20%". (See : Imperial Factoring Exec Testified Discount Rates "Averaging 18-20%", Report, October 3, 2010). I also contacted a senior Imperial Holdings executive after reading Didier's post and he had no knowledge of an 82% discount rate, citing to the S-1 disclosure.
Last Fall RSL Funding engaged in what we referred to as a "bitch slap" campaign against Imperial Structured Settlements using "do it yourself press releases". Thus the 82% allegation needs to be put into context.
Unless Didier and RSL can produce a recent case that shows that the "effective annual discount rate" was indeed 82% then one can only assume that it is simply a misinterpretation of what a discount rate is. Both should refrain from using the misinterpretations .
Moving on to the Didier cite of the "71.4% discount rate referred to by Bronx, New York Supreme Court Judge Norma Ruiz. Had the full text of the Feliciano decision (Ruiz's case) been read, I doubt Didier would have posted what he did, because it makes him look less credible. Anyone with a basic knowledge of present value should know that Ruiz 71.4% number was bogus due the misinterpretation reflected in the decision that conflicted with what she said earlier in the decision. He certainly would not want to rest his closing argument on that one.
This may be helpful
New York General Obligations Law Section 5-1703 (e) through (g) Required Disclosures to Payee
(e) the gross advance amount and the annual discount rate, compounded monthly, used to determine such figure;
(f) an itemized listing of commissions, fees, costs, expenses and charges payable by the payee or deducted from the gross amount otherwise payable to teh payee and the total amount of such fees;
(g) the net advance amount including the statement: "The net cash payment you receive in this transaction from the buyer was determined by applying the specified discount rate to the amount of future payments received by the buyer, less the total amount of commissions, fees , costs, expenses and cahrges payable by you"
All the numbers corresponding to these statutory requirements were set out very clearly in the Feliciano decision, before the Judge's misinterpretation.
In my November 6, 2010 criticism of the bogus use of the bogus "71.4%" by the NSSTA (see below for the full post) I wrote, citing the Feliciano decision and including a copy of the Feliciano decision:
"If the Judge admits that the discount rate of 14.99% equals (the gross advance)
of $19,540 and $17,340 (the net advance amount after expenses) is 88.74% of the
present value with a 14.99% discount rate then logically, the (effective annual discount)
rate CANNOT be 71.4%!"
Following are links to my reporting of the Feliciano decision and the rampant abuse of "judicial misinterpretation" by some, to meet the end of marketing against a competitor and public relations.
I know a big fat misinterpreted discount rate LOOKS juicy, but it's no more real than one of those fake soup bones that "the dog" gets tossed every now and again that do nothing but squeak),
So let's educate the public with reality. OK?
Post Script: Received a call at 11:12 Sunday morning from a phone with "Henry Didier" in the Caller ID. No message was left, just static. I called back the number and the same static. Hank, I'm always happy to chat about anything that keeps structured settlement stakeholders informed and helps curb abusive business practices in either the primary or secondary structured settlement market.
** subsequent to the posting of this blog, the 82% and 71.4% references were removed from Didier's post to Injuryboard.com June 27, 2011 1:50pm
In its first earnings report since its $169M IPO last month, Imperial Holdings announced a 2010 loss which was double that of 2009, amid declining revenue.
Boca Raton-based Imperial Holdings has two primary businesses (1) loans to policyholders to cover life insurance payments and (2)acquiring structured settlement payment rights* via structured settlement factoring transactions.
According to a report in South Florida Business Journal, Imperial Holdings lost $15.7 million on revenue of $76.9 million in 2010. The year before, it lost $8.6 million on revenue of $96.6 million. The company got fewer fees from referring life insurance agencies and lower interest income on its loans.
Imperial's pre IPO SEC disclosures describe a company at the upper end of structured settlement factoring discount rates which is theoretically great for investors but a big suck pop for selling structured settlement annuitants.
Imperial Holdings Chairman and CEO Antony Mitchell said in a press release “While historically our cost of financing has impacted our bottom line, the IPO has afforded us the opportunity to make significant strides in the way we operate our business. We are now able to deploy capital to our core premium finance and structured settlement businesses quickly and effectively at a significantly lower cost.”
* the South Florida Business Journal stated that Imperial 's business included "handling structured settlements" as opposed to acquiring structured settlement payment rights as described above. The South Florida Business journalistic "brain fart" on structured settlements continues.
Secure Structured Settlement Quote Form Click Here If You Are Currently a Party to a Personal Injury or Wrongful Death Law Suit or representing, or insuring one of the parties. This link is NOT intended for people who already have structured settlements.
About The Structured Settlement blog
STRUCTURED SETTLEMENTS 4REAL™ Blog IS A POPULAR SOURCE OF NEWS AND INFORMATION ABOUT STRUCTURED SETTLEMENTS, Settlement Planning, Deferred Income Planning Solutions and Litigation Recovery Management,
with a stable 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, currently ranked in the Avvo Top 30 (May 7, 2012) of legal subject matter blogs, with a Top 35 all time blawg ranking by Justia, this 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 an experienced structured settlement expert and Registered Settlement Planner, John Darer™, CLU ChFC CSSC RSP, President of Stamford, Connecticut based 4structures.com, LLC, (be aware that a lot of material found on the Internet purporting to be about structured settlements is written or "scraped" by those that aren't credentialed experts). WHAT YOU GET here is the straight stuff with a touch of irreverence and humor.
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Structured Settlements Guide
Structured Settlement Lock-Ins What Does a Structured Settlement Lock-In Mean? How do you benefit from a rate lock in? Where to be careful in using lock ins.
Structured Settlement Annuity Company Customer Service Phone Numbers HUGE time saver if you already have a structured settlement. Very useful list from 4structures.com, LLC, which includes both current AND former structured settlement annuity issuers. No need to be frustrated if you have simple bank or beneficiary changes
Structured Legal Fees for Tax Deferral A financial strategy that offers many benefits to lawyers and law firms. In 2011, there are now multiple product solutions. Plan NOW for year end 2012! Put structured attorney fee experts on your team.
Treasury Funded Structured Settlements A settlement option for the most conservative using the OTHER permissible qualified funding asset under IRC 130(d), United States Treasury Bonds in addition to, or instead of structured settlement annuities
Structured Settlement Annuity Companies List of Structured settlement annuity companies and financial ratings from AM Best, Moodys, Fitch, Standard & Poors and links
Rated Ages and Structured Settlements Impaired Risk Rated Ages for Structured Settlements and Annuities advantages all parties. Boost your structured settlement annuity benefit or your yield on lifetime payments.
How Do Structured Settlements Work? Structured Settlement Diagram The Structured Settlement Process explained in 3 bullet points. Includes a helpful structured settlement flow chart/diagram which shows how structured settlements fit in with other settlement planning solutions.
What is a Structured Settlement? A general explanation of structured settlements including the tax basis that give structured settlements their "juice".
Video Podcasts Featuring John Darer™ Click here to watch video from Legal Broadcast Network and Speaking of Settlements podcasts and other sources, featuring structured settlement expert John Darer™ .
New York Structured Settlements Over 50 pages of useful information and ideas about structured settlements, settlement planning and litigation recovery managements for New York residents, New York Lawyers and New York judges
New York General Obligations Law §5-1702 The New York Structured Settlement Protection Act imposes mandatory requirements on the defendant or the defendant's legal representative when a structured settlement is created (as part of the resolution of a case)
Structured Settlements v Structured Judgments Often confused by writers on the Internet, but there IS a difference between structured settlements and structured judgments under CPLR Articles 50A or 50B. Find out more...
"Amen - and continued thanks for your vigilance, John"- RL 8/18/2011
"Thanks for writing these great blogs on your site John! As an individual investor I have learned so much about the secondary market (for annuities, structured settlements, lottery payments, etc.) from your blogs and video series!!!" (6/5/2011)
I have found the intelligent and forthright information on your site a godsend. So much so I have tried in a small way to pass on my findings to others. Please keep up the good work and enhance your well deserved reputation as the authority on this subject- Mike 4/29/2011
John -
I can't thank you enough for bringing this to my attention. In my wildest dreams... PJ-May 12, 2011
John, I love reading your blog! Not only have I found very useful information there, but the comedy is much appreciated! Thanks for talking about "the big pink elephant in the living room" that everyone else ignores!
Thank you again for your help via phone and blog! I really needed to hear what you had to say today! BM 11/23/2010
John—this (video published 11/2010) is a well done piece. I like the way you always stick to the facts-AM
What a wonderful blog you have! I have completely enjoyed reading some of your posts (4/16/2010)
Thank you so very much for discussing my concerns about Symetra, my annuity company. I am amazed that PI attorneys as well as a settlement broker in San Diego, could not answer the simplest questions I had regarding the Safeco/Symetra issue. Your blog/web site is most interesting and informative, and I am grateful you have take on the "watchdog" role!
Thank you so much again (3/25/10)
"Awesome" 3/17/2010 Iowa reader
"Ever Feel Like You're Pissing Up A Rope?" 3/3/10
ThankYou for keeping integrity alive. CS 12/1/09
"Keep up the good work exposing abuses in our industry - our future depends on clients being properly advised."-CD
Just checked out your blog and loved it. Keep up the good and balanced work-DL
"...we have never met but I thoroughly enjoy your web site and blog - excellent material…-PB
"I enjoy your website and its content. Informative and well written"-JC
I heard a radio ad for the Peachtree Settlement Fund as I was driving into work this morning. (San Francisco Bay area.) I decided to check it out on the Internet and came upon your blog. Thank you very much. I do not have a “structured” settlement,
"All the others that I had emailed & have seen on the net were "cash now types" & have no concern of me & just are looking for my $$$. When I came across your site & blog I realized that u are an upstanding guy & are not like others. That's why I emailed"
This was Great. Right On Point-TS
"I love the chicken counter! So hilarious and makes a great point"-H
Always Thought Provoking John!-HS
"Other Than John Darer No One Seems To Be Doing Anything"-J
Thanks for your help and also for the good work you do on behalf of our industry-L
(Structured Settlement Transparency Initiative) A Worthy Fight! -BF
"Thanks for all that you do. This (Structured Settlement Transparency Initiative) is an extremely worthwhile project"-DS
"Thank you for being the inspiration that you are and for being a strong advocate for integrity in our business"-KL
"I Commend You On Your Effort To Make a Difference!" -R
"He is a fabulous writer who has a great passion for the structured settlement industry. I commend him on the passion he invokes when he writes on his blog listed above. That type of commitment and passion is hard to find and is rare in this world" -AC
"I love your weblog. Keep me on your e-mail list". JG
"Well done, John. That is an outstanding piece of work". (JL)
"Go get ‘em John! Good work". H
Structured Settlement Best Practices Corner
New York Insurance Advertising law requires the full name of the Insurer to be listed along with the city and state of the principal office. Stating that you represent these fine companies using Insurance company logos without the preceding information are also illegal
When it comes to settlement documents it is the ultimate responsibility of the lawyers or claims adjusters who receive input concerning the structured settlement aspects of the documents to actually read the entire document, exercise independent thought and advise their clients properly
Be aware that financial advisors use of testimonials is prohibited or restricted
Most states require that Testimonials represent the CURRENT opinion of the person who made the testimonial. Be prepared to back it up.
Number of States That Prohibit Payment of QSF expenses by licensed agents and brokers
Are Annuitants Getting Wasted on Cash Now "Financial Crack"? Is "cash now" the new crack? Sure seemed like it for a while with ubiquitous advertising that dangles "financial cat nip". Problem is they cannot DELIVER "cash now" for structured settlements arguably making it fraudulent advertising. Click here for a discussion and list of "cash now" pushers
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Jay J. Sangerman, PLLC A New York and Florida based AV rated estate planning law practice with an emphasis in Supplemental Needs Trusts, which assists attorneys in efficient case settlement though the use of Supplemental Needs Trusts and Special Needs Trusts; and Elder Law
Day Pitney LLP - People - Keith Bradoc Gallant Brad's practice includes traditional trust and estate planning and administration, special needs and disabilities planning, planning for same-sex couples and their families, planning for incapacity, and all types of probate litigation.
In or about February 29, 2012 a series of websites were registered anonymously off shore using the John Darer™ name for the purpose of defaming this blog's author John Darer™. The line between fair commentary and something that defies civility and dec
The Structured Settlement Transparency Initiative Responds to " Are There Any Questions I SHOULD be asking?". This information should be of interest to tort victims, plaintiff lawyers, judges who approve structured settlements
It Makes You Just Want To Hurl! If a person who calls himself a "settlement planner" is putting you into a structured settlement that you don't want or need while selling you on the ability to liquidate it through "cash now pushers" or "financial crack dealers", read this!
Halland Sickels Frei Mims Hall and Sickels is a full service personal injury attorneys and largest plaintiff's personal injury firms in Northern Virginia
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Why Take a Structured Settlement?
A structured settlement offers guaranteed financial security to accident victims and their families. A structured settlement involves a customized stream of payments, a structured settlement provides long-term stable tax-free income, for a period of years or a lifetime. Unlike other income annuities. a structured annuity can have multiple payment streams to address multiple needs in a single contract.
