Structured Settlements 4Real is compiling, in the public interest, a directory of settlement professionals who charge fees and/or accept fees from tort victims, or commissions from factoring companies for services provided in the sale of transfer of structured settlement payment rights. It has been proven that payment of such fees has a negative effect on the amount paid to the tort victim in such transactions. Even if you do not live in a state that requires such disclosure, tort victims need to be aware of how direct or implicit payment of such fees impacts the effective discount rate being charged.
The name, rationale for charging fees and the source of information is presented below.
Name
Jack L. Meligan, of West Linn, Oregon Rationale cited: Considers factoring Post Settlement Planning. Says "WON'T WORK FOR FREE". Pay for time on consulting on structured settlement factoring deals for clients selling rights to receive payments from structured annuities written by other brokers Hourly or commission based? : Undisclosed Source: Settlement Professionals blog
Michele Whitmore, of Denver, Colorado Direct quote: "While I certainly won’t participate in any marketing to my clients, I will encourage them to call if they are considering a change to their policy. Being paid for my services with the proper disclosures is business between myself and my clients". Hourly or commission based? : Undisclosed Source: Settlement Professionals blog which contained a copy of an email, dated December 5, 2007 which was represented by Meligan as being sent from Michele Whitmore to a broker named "David" (and obviously copied to Jack L. Meligan) .
All information above obtained through published sources on the Internet.
It is notable that both of these individuals are former Presidents of The Society of Settlement Planners and affiliated with the same producer group, Settlement Professionals, Inc.
Comments