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March 14, 2009

Two Wrongs Don't Make A Right Unless it Comes out of the Structured Settlement Factoring Industry?

by Structured Settlement Watchdog®

Apparently two wrongs don't make a right unless it comes out of the factoring industry.

On the Legal Broadcast Network Matt Bracy, the general counsel for Settlement Capital of Dallas Texas,  is interviewed by Mark Wahlstrom on the topic of misleading and obnoxious cash now pusher advertising. In the video broadcast Bracy "turns the guns back on the structured settlement industry" by contending that because the structured settlement industry fails to inform plaintiffs and annuitants at the time of settlement of their rights to factor and the costs and process involved, most consumers are forced to discover those rights through the very advertising that the structured settlement profession despises most.

In this instance Bracy's "guns" are exposed as mere "super soakers" of illogic. 

180px-Super_Soaker_CPS4100
A Super Soaker of Illogic

Bracy's first "wrong" is that the structured settlement industry allegedly isn't telling tort victims about factoring when structured settlements are set up. This is used to justify the second "wrong" which is the misleading and sometimes fraudulent advertising perpetuated by members of the industry to which Bracy belongs.

Then using the "Needle in a Haystack" argument similarly proffered by Cash Now "Stoner" Michelle Hsu, Bracy's question is how are factoring companies supposed to reach their target market and inform them when there is little or no discussion of the process by the professionals who put these people into the annuity contracts?

While Bracy's company is not known for such advertising practices, he omits the fact that the primary reason such practices even exist is the lack of regulation of advertising practices of his industry.   As will shortly be pointed out to my congressmen such lack of regulation and enforcement enables the financial crack dealers' version of  "fishing with dynamite" such as Woodbridge Investments, LLC's offering a Mercedes Benz or a 42 inch Plasma as bait for its structured settlement annuitant tort victims, to exist.

Download Woodbridge Investments 21st Century Toaster Incentives to Factor Structured Settlements

Download Woodbridge Investments Plasma...ettlements Scott Schwartz--p

 

Posted at 10:20 AM in Cash Now Pushers | The "Cash Now Fix", Legal Broadcast Network, Stone Street Capital Commentary, Structured Settlement Factoring, Structured Settlement Watchdog®, Woodbridge Structured Funding LLC/ Woodbridge Wealth |

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