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August 06, 2009

NATLE Endorsed Strategic Capital Misleading Advertising

by John Darer CLU ChFC MSSC RSP

Canadian factoring company Strategic Capital  posts the following on its website as of 9:00pm on August 6, 2009:

 "A 2004 California Attorney General's report on the selling of structured settlement payments showed the average interest rate charged for the state was 19.2%. In the same year, the national average interest rate charged by Strategic Capital for structured settlement payments was 12.7%. The dramatic difference in rates charged means that Strategic Capital pays annuitants thousands of dollars more cash for their structured settlement payments".

What relevance does a 2004 California Attorney General's report have in August 2009?

It's a completely different economic environment and the use of such report in August 2009 is completely unethical on the part of Strategic Capital to imply that consumers should rely on this as to the company's current competitiveness.

On a positive note it appears that Strategic Capital no longer uses cash now advertising so they are being removed from the "cash now pushers" list.

Posted at 10:08 PM in Cash Now Pushers | The "Cash Now Fix", Factoring Company Bad Business Practices, NATLE, Strategic Capital, Structured Settlement Factoring, Structured Settlement Transfers, Update Your Website Much? |

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Structured Settlement Best Practices Corner

  • New York Insurance Advertising law requires the full name of the Insurer to be listed along with the city and state of the principal office. Stating that you represent these fine companies using Insurance company logos without the preceding information are also illegal
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