by Structured Settlement Watchdog
More structured settlement social media road kill! This time Joshua Shapiro has set off another "dirty bomb" of drivel in the blogosphere at cashforstructuredsettlments(dot)net. Here's the excerpt:
"Insurance companies prefer that structured settlements be set up instead of having to pay big awards out. Why? Wouldn¡¯t (sic) you prefer to have the option of repaying your debts over a long period of time instead of right away? Of course, they do this with the pretense that it is in everyone¡¯s (sic) best interest. However, most people would prefer to have their money now instead of having to wait. You may have bills that need to be paid or you may just want to invest it. The point is that it is your money and you should have access to it if you want it.
A few years ago some very intelligent people figured this out and founded companies that buy structured settlements from people wanting to cash out. Now you have the option of selling your structured settlement and getting your money now instead of in small increments over the next few years. While you may have been stuck with the deal you got for a long time, now you have the option to choose."
Structured Settlement Watchdog:
First of all, some very intelligent people figured out that they could charge people an effective discount rate of 20-25% buying and securitizing the rights to payments on "AA" and "AAA" rated credit. Some really greedy and intelligent people figured out a way to charge one Florida woman 41.73% if a Broward County judge approves this week.
A structured settlement is established as part of a compromise. Generally both sides have representation when a structured settlment is established. There is no pretense.
Joshua Shapiro is clearly not an expert and is not current in his knowledge of structured settlements. I hope he reads this and decides to conduct a little more research the next time he writes.
Anyone out there know which factoring company Joshua Shapiro is affiliated with? Inquiring minds want to know.