"Although the demand is there from customers seeking to sell their structured settlement payments, the present financial condition of the insurance companies and downgrading of their bond and credit ratings has caused rates to rise making the purchase of stuctured settlement payments more difficult in today's interest rate environment". Woodbridge Investments press release from spokesman Scott Schwartz.
Woodbridge Investments' "sherlock" blames the financial state of "the (unspecified) insurance companies" for its woes. Yet it is quite easy to observe that many cash now pushers simply don't have the wide access to institutional and hedge fund capital that they did in recent years. Just read about J.G. Wentworth's financial ratings reports! Even when capital WAS plentiful that didn't stop the like of Peachtree Settlement Funding from charging above market discount rates to tort victims.
Our sources say that now those factoring companies who have access to individual investors are doing business but the purportedly closed spigot to the Deutsche Bank funding pipelines and others is a major uh... factor in fewer closed deals (or deals taking much longer to close) not necessarily "the insurance companies". One has to trace the source of THOSE companies' financial woes. Elementary Watson... Elementary!