by Structured Settlement Watchdog
Back in December 2006 cash now pusher Fairfund Financial Group was the subject of this blog post Fairfund Financial Goose Egg for false advertising.
Now the Atlanta Georgia based company is asking the question "So what should people do that have structured settlements or annuities?" and answering ""They might want to consider cutting their losses and taking what they can from their settlements and moving it into a more secure investment like real estate or gold".
Comments:
- What losses are people suffering by receiving a steady paycheck on time from their structured settlement annuity?
- What losses will people suffer by selling their structured settlement payment rights to cash now pushers Fairfund Financial for pennies on the dollar? The company tees up a price gouge after scaring the consumer by stating "unfortunately even if they want to get rid of their settlement annuities, there is another obstacle, the credit markets. Because of the increased risk, funding companies are now charging more in interest to take on the risk that an annuitant’s insurance company might be downgraded or go under". That doesn't explain why some companies like Peachtree Settlement Funding were charging ridiculously high discount rates when the times were good.
- How much did the S&P500 drop last fall?
- How much has the value of real estate dropped?
- As far as gold goes, click for a 35 year history. Gold has been on a nice 10 year run., however, there have been times that it has been uniformly unspectacular, including an unimpressive run after the 1987 stock market crash.
Fairfund Financial misleads consumers by stating on its home page that it "maximizes the value of your structured settlement payouts", a statement that might be true if you're the type that considers a pawn broker the standard bearer for value.
Fairfund doesn't maximize your value. It's a lie. The structured settlement already has a value, your steady income tax free pay check. You give up value to get pennies on the dollar from Fairfund. Where do we sign up? Furthermore, if taxes go up, the value of your structured settlement increases without your doing anything when compared to taxable investments.
Comments