by Structured Settlement Watchdog®
Matt Bracy has started a potentially helpful new podcast series over on the Factoring Channel on LBN. Every two weeks Matt intends to address another subject concerning factoring, ostensibly to overcome the concerns expressed or felt by members of the primary structured settlement market, judges and the legal community. In the first episode Matt deals with a subject that is near and dear to my heart...the abuse or perceived abusive advertising by factoring companies (a/k/a "cash now pushers").
Bracy's central theme is that the angst about factoring company advertising related to structured settlement transfers is due to an "education gap" and that "creative advertising" is needed to "break through". Bracy' is careful not to name names and while most would agree that factoring advertising is memorable the benign patina that Bracy puts on it is wide of the mark. Before I continue, let me underscore the fact that Bracy's company IS NOT one of the abusive advertisers.
I appreciate what Bracy is trying to do but in my opinion he wimps out on the "cash now" fraud, which is where a cash now pusher advertises more than it can actually deliver. Bracy states that the typical transaction takes 90 days from start to finish. Just because Bracy's company's poop doesn't stink doesn't mean that others' doesn't.
We've already covered several situations involving settlement purchasers, where the transaction took longer than 6 months (e.g. Where Fast Cash Now Apparently Means The Speed of a Tortoise) . Whether or not those people were eventually paid, and/or received interest, is irrelevant. The fact is that the cash WAS NOT delivered immediately.
Does Bracy believe that there is an "education gap" to be filled over Structured Asset Funding, LLC , a/k/a 123 Lump Sum soliciting gullible tort victims to give up long term financial security for a fancy boat or a Ferrari? I Doubt it!
Does Bracy believe that there is an "education gap" to be filled over Woodbridge effectively "bribing" people to sell structured settlement payment rights with "toaster upgrades" like Bang & Olufsen Stereos and Plasma TVs? I Doubt It!
Despite this criticism I was pleased to see Bracy's effort. My company, 4structures.com, LLC is one of the only ones in the primary market that has a published company statement on the subject and has for a number of years.
View Bracy's podcast below