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August 27, 2009

Peach Holdings Gets S&P Upgrade to CCC+ (Outlook Negative), Senior Secured to CCC-

by Structured Settlement Watchdog®

Standard & Poors  issued new credit ratings on Peach Holdings, the parent of cash now pusher Peachtree Settlement Funding on August 26, 2009.

As stated on the Standard & Poors website, an obligation rated 'CCC' is currently vulnerable to nonpayment, and is dependent upon favorable business,financial, and economic conditions for the obligor to meet its financial commitment on the obligation. In the event of adverse business, financial, or economic conditions, the obligor is not likely to have the capacity to meet its financial commitment on the obligation.

This author would never suggest anyone sell their structured settlement payment rights to Peachtree Settlement Funding in the first place.

  1. The company has engaged and continues to engage in false advertising. Simply read the tab on Peachtree Settlement Funding to the right of this blog for our archive.
  2. The company does not have a reputation for competitive discount rates. While riding the gravy train, Peachtree charged rates in the mid to high teens when others were considerably lower. Great for investors, sucks for consumers  with structured settlements in need of the type of service Peachtree and others offer.
  3. Upon information and belief the company engages in the servicing of structured settlement payments.

Questions

  • Should annuitants whose payments are being serviced by Peachtree Settlement Funding be worried?
  • Should any life insurance companies who entered into servicing agreements with Peachtree Settlement Funding be rethinking their strategy not to split payments?
  • At one point Peachtree Settlement Funding was a member or sponsor of the Society of Settlement Planners ( see Download Peachtree Still in SSP 10-10-2006 Google)  Did any SSP members refer their clients, or any annuitant to Peachtree Settlement Funding during the time that Peachtree was a member of the SSP, or at any other time?
  • Given that the S&P ratings for Peachtree , the JG Wentworth "close call" and the fact that business inevitably ends up in servicing agreement,  doesn't the SSP and/or those members of the SSP feel it might be a good time to legally determine what happens to their client in the event the servicer goes belly up?

"Peach's funding options remain strained because the company has no access to revolving warehouse lines.The outlook is negative, reflecting the company's funding of new originations with forward flow arrangements"  Standard & Poors (on Peach) August 26, 2009

Posted at 09:59 AM in Factoring Company Insolvency, Factoring Industry Servicing Commentary and Discussion, Peach Credit Ratings, Peachtree Settlement Funding, Servicing of Structured Settlements, Settlement Planner Malpractice Issues, Settlement Planning Issues, Society of Settlement Planners (SSP), Standard & Poors Ratings |

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Guide to Structured Settlements 2020

  • What is a Structured Settlement? How do I get a Structured Settlement?
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    Which life insurance companies issue structured settlement annuities going into 2020? A list of current structured annuity issuers, the location of their home offices and their financial ratings from A.M. Best, Moodys, Fitch, Standard & Poors, links to their websites and other useful information.
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    Treasury Funded Structured Settlements are a settlement option for the most conservative using the OTHER permissible qualified funding asset under IRC 130(d), United States Treasury Bonds in addition to, or instead of, structured settlement annuities. Treasury Funded Structured Settlements can also be used to fund installment sales, also known as structured sales and other non qualified structured settlements.
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    Ways You Can Structure Your Settlement Payments. With a structured settlement you can have more than one type of payment in a single contract. Different types of structured settlement payments can be customized and combined to meet your needs on a stand-alone basis, or in conjunction with other financial products. Diversify your structured settlement, if you wish, by funding with more than one annuity issuer, with treasury funded structured settlements or even an index linked structured settlement.
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  • Structured Settlement Quote Lock-Ins | What You Need To Know
    What does a Structured Settlement Lock-In Mean? How do plaintiffs, defendants and insurers benefit from a structured settlement quote lock in when finalizing a settlement? How does the defendant/insurer/court benefit from using a structured settlement lock-in? Where to be careful when using structured settlement lock ins.
  • What Are Structured Settlement Annuities?
    Structured settlement annuities are annuities that can provide one or more customized annuity payment streams in a single contract. Read about it here.

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    with a stable readership that seeks credible structured settlement information and/or opinion about topical issues related to settlement planning, targeted to lawyers, injured persons and their family members, guardians, survivors, judges, magistrates, special masters, mediators, administrators, trust companies, insurance company executives and adjusters, financial advisers settlement professionals, financial professionals, insurance regulators, government leaders, federal and state law enforcement, buyers and sellers of structured settlement payment rights, the news media and other interested parties. 4structures.com LLC established the structured settlement blog in 2005 to fill a need for critical commentary in an under-served.marketplace. The John Darer® authored blog has been among the most prolific, providing fresh structured settlement, settlement planning and litigation recovery management content and commentary regularly. John Darer®, CLU ChFC MSSC CeFT® RSP CLTC, President of Stamford, CT based 4structures.com, LLC, is an experienced New York City area structured settlement expert, structured settlement broker, Certified Financial Transitionist, and Registered Settlement Planner. WHAT YOU GET here is the straight stuff with a touch of irreverence and humor. We hope you enjoy and find the content to be helpful.. Subscribe to the structured settlement blog feed, or a specific category feed through your blog reader, or through the Feedburner icon on this page. Followers of JDDarer™ on Twitter may also receive select content. Thank you for reading!

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  • 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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  • Most states require that Testimonials represent the CURRENT opinion of the person who made the testimonial. Be prepared to back it up.
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