Peachtree Settlement Funding got excoriated by ex-employee Joe Simmons on the website of online consumer advocate "The Rip-Off Report" Download RIPOFFPT-Peachtree.pdf
While much of the letter speaks for itself, there are some interesting points to observe:
- Peachtree purportedly will not do a deal for less than a 19.99% discount rate;
- Peachtree purportedly continues to harass those who say "no" (i.e do not want to sell structured settlement payment rights, or sell them to Peachtree). Simmons states "if you decide to not do a transaction with them, they will constantly call you and harrass you until you finally do a deal with them. Even if a customer demands to have no more phone calls, the employees are forced to tell customers to send in a letter. Even if a customer does send in a letter they do not remove your phone number from the system and they will constantly call you".
While one surely has to discount some of the content of the letter as the rantings of a disgruntled former employee, there may be some value to his "whistleblowing". It certainly pays to shop around. If what Simmons says is true (about the 19.99%) why would ANYONE do business with Peachtree when more competitive deals abound?