One of our sources in Massachusetts told me this morning that he received a call from an Audrey Ismael (phonetic spelling) who said she represented Stone Street Capital, a "cash now" pusher.
- The stated purpose of the call by Ismael was " they wanted to know how the transaction went with his structured settlement".
- When the caller asked "how did you get my name?" Ismael allegedly replied "it's confidential, I really can't tell you that".
- To which the source replied "that's interesting because I am on the "Do Not Call list". Chapter 265 of the Acts of 2002, An Act Regulating Telemarketing Solicitation, creates a “Do Not Call” registry within the Office of Consumer Affairs and Business Regulation. The law became effective on January 1, 2003 and is found at Chapter 159C of the Massachusetts General Laws. By signing on to the Do Not Call Registry consumers will be able to stop receiving certain prohibited telephone solicitations.
- To which Ismael allegedly repled "that doesn't apply to us, we're Stone Street Capital!"
A shame for Ismael and Stone Street Capital that fate isn't being kind to her/them; the person she called was a structured settlement broker. This incident will give valuable insight to regulators and legislators about Stone Street Capital business practices. As to how they obtained the targeted caller's phone number, whatever court they are "sniffing", whatever list they are buying, obviously isn't qualifying prospects.
A shame for Ismael and Stone Street Capital, our source reports they are being reported for an apparent violation of the Do Not Call list (Chapter 265 of the Acts of 2002) which would subject them to enforcement by the Attorney General of the Commonwealth of Massachusetts.
Members of the Massachusetts Academy of Trial Attorneys(MATA) and plaintiff lawyers in other states should be alarmed that a factoring company, like Stone Street Capital, is somehow obtaining your client's names and phone numbers.
Possible sources of the leaks:
(1) Court sniffers who rummage through records for indications of a structured settlement.
(2) Structured settlement consultants or settlement planners who sell their client information to such companies
(3) Financial planners who sell their client information to such companies
(4) Lawyers who sell their client information to such companies.
The Structured Settlement Clean Vendor List contains a group of settlement professionals who have made affirmations under penalty of perjury that, among other things, they do not sell client lists. One way that you can protect your clients and yourselves by only working with structured settlement or settlement planning consultants who appear on the Structured Settlement Clean Vendor List or those that are willing to provide written assurances that they do not engage in such practices.
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