by Structured Settlement Watchdog
Choosing to do business with SSQ bears considerable costs, if things go wrong and if the controlling company and consumers or investors are not able to resolve their differences. All one has to do is to observe the ongoing jurisdictonal battles over an enterprise controlled by and/or paid for by some gentlemen from Vancouver Canada.
Such legal costs are likely to be unmanageable for anyone other than the filthy rich, SSQ is the lead generation website that can be found at structuredsettlement-quotes (dot) com that has also been extensively used to brandjack competing companies. Woodbridge's allegations, if proven, would be a very serious showcase of the settement purchasing industry's problems. Most of the annuitants come to settlement purchasers to raise money because they have mounting debts and thus unlikely to be able to finance a sophisticated litigation.
The company only advertises a single address in Hartford Connecticut that turns out to be a Regus office center, primarily used to forward mail, according to research conducted independently in 2013. Expect that to be corroborated by discovery in the current case. That address was paid for at several times using a credit card of Boris Drubetsky, Chief Operating Officer of Roger Proctor's companies Genex Strategies, Inc., Genex Capital Corporation, Abaca Rx and perhaps others. Mail is forwarded to 1011 West Cordova Street Vancouver BC, Canada, the address of Roger Proctor's $2 million condo at the Fairmont Pacific Rim in that city. Drubetsky lied about his and Genex involvement in SSQ 2 years ago.
- None of the Genex entities or SSQ appears to hold a registration with the Connecticut Secretary of State, which makes service of process a very costly exercise if you are a CT resident. If you are a resident of another state you can easily verify if they are registered in yours.
- At the time of posting, SSQ was no longer rated by the Connecticut Better Business Bureau.
- The Genex Capital Corporation address, which is the only corporate address that Genex Capital has admitted to in the United States, is a UPS mailbox at 73 Green Tree Drive in Dover, Delaware. The same address is used for a number of other Genex Capital owned websites such as Assured Annuity.
Woodbridge has to prove its case, but discovery is well underway. Worth keeping an eye on, just as other consumer related lawsuits against other to be named settlement purchasers that I'll be reporting about shortly. By vistiting pacer.gov and looking up the case Woodbridge Structured Funding v Structured Settlement Quotes, Genex Capital and Genex Strategies, Inc. you can keep up with developments. In the meantime, if you have concerns there are now many companies out there. You can beat SSQ, or any company, by simply shopping around.
There's a bunch of stuff about SSQ and Genex on Pissed Consumer.com but alot of it appears to be silly sophomoric comment spam from agents of fringe players Einstein SS/JRR Funding and influencers who use it as trolling ground to promote themselves. I wouldn't give it much thought. Those guys like to throw my name around too since theirs apparently isn't big enough.