This is a warning to the factoring company whose marketing strategy is to induce structured settlement brokers to the wrong side of the moral compass under the guise of a "co-marketing agreement". Because this is a bipartisan issue you shoud be aware that people in your own industry may be willing to drop dime on you.
In fact the factoring industry was the initial source about the problem. and the information that was provided then (about a broker who purportedly wanted to sell a number of files to the source), for which I am grateful, led to the Stuctured Settlement Transparency Initiative), It should be noted that the SSTI Declaration (both 2007 and 2011 versions) includes a provision of about not selling information to factoring companies.
Several months ago one of your brethren got wind of the deals that you are doing and informed us.
There are other sources in both the primary and secondary side of the market who recognize what selling confidential personal financial information and/or about the amount and timing of payments to a factoring company or representative, for the purpose of the factoring company hocking people to sell structured settlement payments, in return for a "payoff", means to the integrity of the market.
Rest assured that when my team and I find out who is participating, the covert actors names WILL be made public along with the names (and firms if applicable) of any structured settlement broker or settlement planner who has entered into such "co-marketing agreements" with you.
Those on the primary side of the structured settlement market can expect to see some action from the life markets and casualty companies soon. The heat is going to come from all sides.
Those on approved lists of casualty companies should realize the implications to your ticket with those companies if one of your agents is participating in the activity.
If a plaintiff advocate is participating in this, we fully intend to notify the leadership of any trial lawyer association who has accepted , or is accepting money from any individual or entity who participates in this activity. They and their clients deserve to know how you are using the names of their clients after they have referred the case to you. The annuitants need to know how you are using the names.
As you navigate between "Scylla" and "Charybdis" and/or "The Sirens", you have a few choices: stop and come clean now, or continue what you are doing until we eventually expose you and turn you over to the mainstream media (and more).
We will not let you destroy the integrity of the industry.