This isn't a case of wanton, er... "picking" on Pressman. Based on research conducted by this author and detailed in the prior post, Pressman's claims appear to support my opinion that it is engaging in false advertising. Is it OK to "fake it until you make it" when soliciting regulated financial products? I don't think so!
What is it with Buffalo, New York? The city of Buffalo appears to have one of the highest per capita concentrations of structured settlement firms . Two of those firms have been highlighted here for advertising issues. We've previously highlighted the specious structured attorney fee interest rate claims ("equivocated guaranteed rate of approximately 15%) of Buffalo compatriot and her former employer Forge Consulting. Now we've got Pressman who, ironically (according to Buffalo Business First), was its Director of Marketing and Operations in 2003. What I'd like to know is how long can Pressman make such claims, knowing that it does not have direct "full market access" and no longer has the back office" "with over 16 years of experience" "in the (structured settlements) industry"?
On the technical side Elizabeth Pressman crafts her own noose by first correctly stating that "there is simply no room for guesswork when so much is at stake". Pressman then gets an incomplete for stating that "even cases that involve tax exposure – environmental pollution liability, and property loss claims – can benefit from a structured settlement approach. The term "stuctured settlement" is defined under the Internal Revenue Code. Unless an element of damages in a case involves a personal physical injury** or physical sickness**, or workers compensation**, there is no "structured settlement" per se. Such cases can be resolved by way of a non qualified assignment, which some refer to as a "non qualified structured settlement" or "tax deferred structured settlement".
** intrinsic components of the tax exclusion on damages per IRC 104(a)(1) and 104(a)(2)
July 12, 2007 footnote: SS4R has learned that Pressman Settlements has just engaged the none exclusive services of the industry's back office, Joan Schaefer, who does have over 16 years of experience and works with many plaintiff and defense structured settlement brokers. SS4R has also learned how Elizabeth Pressman gets into her clients' boudoir! Apparently her female clients are "enrobed" by Pressman. That leaves us all still wondering about the "full market access" thingy.