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November 04, 2009

"Fast Cash is Bunch of BS" Says Waiting 123 Lump Sum Customer

by Structured Settlement Watchdog®

Reader Christina Storey writes

"My husband is currently waiting funding from 123 Lump Sum. We started this process over a year ago. It finally went to court on Sept.2009. We got the approval and now almost 2 months later still not funded yet. Yeah their slogan fast cash yeah okay that's a bunch of bs. Anyone going into this should know it's not gonna be that way and they are falsley (sic) advertising it on their site. I think we have been more then patient with these people. But we just keep getting fed more bs as to why we are not being funded. I'm waiting for them to just say sorry we can't do it we're bankrupt or something. I'm so confused"

123 Lump Sum is a trading name of Structured Asset Funding, LLC  and handles the funding and servicing.

This is the 4th case this year that we've heard of where this company has dragged out the funding of a structured settlement factoring transaction.

I'm not making this stuff up.  Sellers beware! Make sure you have considered and exhausted all other alternatives.

Have you experienced a long delay from a company that has promised you cash now? Tell us your story! Help yourself and help others!

Any other customers of Structured Asset Funding, 123 Lump Sum who have experienced similar delays are encouraged to contact this author so that we may publish your story. The viral power of the Internet will put pressure on the "cash now" pushers or settlement payment purchasers to deliver on their promises, to stop making claims that they cannot deliver. Your stories will be compiled for discussions with federal and state officials in the hope of improving the experience for others.

Posted at 01:08 PM in Cash Now Pushers | The "Cash Now Fix", Factoring Company Bad Business Practices, False Advertising Re Creating, Buying or Selling Structured Settlements, Structured Asset Funding/123 Lump Sum, Structured Settlement Factoring, Structured Settlement Factoring Myths, Structured Settlement Transfers, Structured Settlement Watchdog® |

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Comments

elizabeth baker

sorry i just sent you a email on my mom the date she went to court was not feburary it was dec 5th 2008 and they have made meny promisses.the last one he promised was for the 20th of november so she gave 30 days notice to her landlord to move.and no results.

Posted by: elizabeth baker | November 21, 2009 at 11:55 AM

elizabeth baker

my mother is also going through 123 lump sum and it was aproved by the courts in feburary 2008 and they told her it would be for sure on the 20th 2009 of november.it has came and no money.she has been very patiant with them but the promise of the 20th she has gave a 30 day notice to move thinking the money would be there.

Posted by: elizabeth baker | November 21, 2009 at 11:00 AM

The comments to this entry are closed.

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Guide to Structured Settlements 2023

  • What is a Structured Settlement? What You Need to Know
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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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    Use the Taxable Equivalent Yield chart to help compare the Internal Rate of Return (IRR) of a structured settlement to other alternative or complementary investments. Need help with the chart? Call 4structures.com® LLC at 888-325-8640
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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, index linked structured settlement payments and market based structured .
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    Structured attorney fees is a financial strategy that offers a unique way to defer taxes for lawyers and law firms. Lawyers CAN structure their legal fees even if the plaintiff doesn't structure their settlement. There are multiple ways to structure your attorney fees, such as the an index linked structured settlement where payments are adjusted based on upside changes in the S&P 500 with no downside and a cap of 5%. Trial Lawyers may also use a special deferred pay/deferred compensation arrangement, if market based returns returns are desired with no cap. Plan NOW for year end! Put structured attorney fee expert John Darer® on your settlement planning team.
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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 structured settlement annuities here.
  • History of Structured Settlements
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Qualified Settlement Funds

  • What is a Qualified Settlement Fund?
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  • Firmwide Qualified Settlement Funds Debunked
    Firmwide qualified settlement funds have been heavily promoted to trial lawyers, but have been debunked in a detailed analysis in a July 2022 legal opinion a tax partner at the law firm of Faegre Drinker Biddle & Reath, LLP. Trial lawyers and firms who have established Firmwide QSFs or coinsidering establishing a Firmwide QSF should read the analysis as part of their evaluation.

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