The full moon may be on the wane but this week's Structured Settlement Wall of Shame is a real howler! This week's villains are repeat performers, Sovereign Financial Group ("SFG") and Novation Capital, LLC. First a little background...
Wikipedia is an encyclopedia written collaboratively by many of its readers. It uses a special type of website, called a wiki, that makes collaboration easy. Lots of people are constantly improving Wikipedia, making thousands of changes an hour, all of which are recorded on article histories and recent changes. Inappropriate changes are usually removed quickly
Sovereign Financial Group and Novation Capital, LLC show no conscience in putting links to their websites soliciting their factoring business in what is supposed to be an educational tool.
Type in Structured Settlements as a search term on Wikipedia. These companies obviously have no respect for the integrity of Wikipedia. This is a perfect example of what is wrong with the factoring industry. Mr. Springer, the alpha wolf of SFG writes alot of blog posts about structured settlements but he isn't in the structured settlement industry like Harvey the Rabbit, he isn't real. Ignore the silly bunny! Novation Capital, whose former employee Sal Venti's antics gave used car salesmen a good name at last years SSP annual meeting, deserves the additional singeing for the repeat performance.
How about some of the other NASP members clamp down on their shameful competitors and effect some positive change? Structured settlement brokers should think twice about patronizing any of these companies for what they have done or what they are doing to our industry (adding to confusion of consumers)