by Structured Settlement Watchdog®
Novation Settlement Solutions, the DBA for Novation Funding LLC has stooped to new levels of deception in advertising by encouraging people to sell their structured settlement payments at a discount to make " your structured settlement payments work harder for you". Novation's concept is easily rubbished. The only solution that Novation has is to buy your structured settlement payment rights at a big discount. None of the people Novation has held out as experts has an insurance license as we have previously reported.
This is the same settlement purchaser which truly shafted young New Yorker Cedric Martez Thomas for over a $1.4 million profit spread for
Novation Funding LLC and its investors. Doing business with Novation Funding means that Cedric Thomas will have to more than double his money just to get to the point he would have done had he done business with 2 or 3 other companies and a very long way to go before he breaks even on the payments he lost by doing business with Novation Settlement Solutions.
This type of deceptive advertising, in this case by Novation Settlement Solutions should be illegal. Novation Settlement Solutions continues to make bald faced lies on its website that it pays the maximum payouts, when court records confirm that in the Cedric Martez Thomas case they totally shafted the youngster under the auspices of an Okeechobee County Florida judge in October 2015. $6,600,000 in future payments gone for about $1,037,000.
It is a serious public policy issue when there are these mammoth structured settlement factoring deals that screw structured settlement annuitants involving companies that use deceptive advertising.
Who Is Investing in the Structured Settlement Annuitant Screwing Factoring Deals?
We are particularly interested in identifying investors who profit from the screwing of structured settlement annuitants. The more that is uncovered, the more sickening it gets.
I have already identified a life insurance company, fortunately not a structured settlement annuity issuer. which has profited from the massive screwing of an Oklahoma resident in a deal similar to Thomas orchestrated by Seneca One, another NASP member. Investors and financial advisers to investors should be aware that lawyers are gearing up and going after these types of deals and orders are being vacated, sometimes voluntarily, sometimes not.