by Structured Settlement Watchdog™
Integrity means strict adherence to a moral and ethical code. Thus, including "integrity" in your company name implies that your company strictly adheres to a moral and ethical code.
Integrity Funding Sources, of Portland Oregon, has done something that clearly dents their brand image. It shows us that a "morally descriptive" marketing name means nothing unless a company, like Integrity Funding, can back it up with its actions.
The following testimonial appears on the website of Integrity Funding Sources (www.integrityfunding.net), a factoring company that, among other things, purchases the payment rights to structured settlements:
"I would like to thank Virginia Dunn at Integrity Funding for her assistance in getting a cash portion from my settlement annuity. Her prompt response to my inquiries and her professional follow-through was extremely appreciated.
The funds allowed me to purchase stock in the Mannatech corporation during its Initial Public Offering stage in February. The stock was available at $8 per share and has since risen to $20 per share. I have more than doubled my money in a few months. A 100% increase in 3 - 4 months beats a 3-5% increase in 1 year.
Virginia has done so well that I have referred three family members with settlement annuity packages to her. She truly shops for the best deals out there. I know that because 2 of the 3 family members have different financial services helping them to obtain cash that they can use now.
Thanks for helping me double my money, Virginia!" (bold for emphasis)
Regardless of what the perception of the writer of the testimonial, the manner in which the testimonial is used by Integrity Funding, to imply that selling your structured settlement to Integrity Funding Sources will help you double your money, is irresponsible, egregiously misleading and deserving of a public pillory. The two transactions, that the person giving the testimonial describes, are independent NOT interdependent. Virginia Dunn DID NOT help Jerry Ryan double his money. What did Virginia Dunn do? All she did was arrange to give him a percentage of the discounted present value for his future payments after that independent transaction was approved by a Court.
Investments in equities (stocks) are not guaranteed and the result of Jerry Ryan's independent investment transaction are not typical. That's why you will see a disclaimer on most sales literature concerning investments. Here's the 1 year chart on Mannatech from Marketwatch by Dow Jones in case you need further convincing of volatility.
- Have you done business with Integrity Funding Sources as a result of reading the above cited testimonial on the Integrity Funding website?
- Have you received any print materials from Integrity Funding Sources with the above cited Jerry Ryan testimonial on it?
- Have you been induced to sell your structured settlement payments (payment rights) by Integrity Funding Sources, or any other factoring company, for an alternative investment that didn't pan out?
If so I'd love to hear from you.
And Attorneys General and other regulators please take note that lack of regulation and enforcement of factoring companies is what leads to this. What Virginia Dunn and Integrity Funding have done would be unacceptable for a insurance or registered person's advertisement of insurance or securities products. When are you going to step up to plate on this consumer protection issue?!
Other posts referencing Integrity Funding
Urban Legends September 15, 2006