by Structured Settlement Watchdog®
A factoring company's failure to respect an "under seal" Court order caused unwanted solicitation of a seller's fellow siblings who were victims of sex abuse and were also receiving structured settlement payments as part of the resolution of their lawsuits.
After one of the siblings attempted to sell their structured settlement payment rights to one of the factoring industry's "household names",the other siblings began to receive unwanted solicitations from other factoring companies seeking to buy THEIR structured settlements. Apparently, to some factoring companies "sniffing" court documents is like "sniffing glue". In my opinion it's like a loaded diaper, it stinks!
With no laws governing the solicitation of structured settlement recipients by structured settlement cash now companies, the potential for abuse of structured settlement recipients continues.
Be sure to watch the debate NASP's Matt Bracy and I had on the subject of factoring licensing and regulation which will air on Legal Broadcast Network.