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December 04, 2011

Settlement Planning Guide: "Especially Pernicious Myth" or "Holy Grail" About Dissipation of Cash Settlements?

150_pig_fly.gifDoes The Settlement Services Group deserve a salute for "finding" the "holy grail" of dissipation studies, or has its Managing Director been hoisted on his own petard?

" Studies prove that most people who receive cash settlements spend 95% of their money within five years"  Settlement Planning Guide The Settlement Services Group  (TSSG), from Docstoc.com available on  December 4, 2011  (emphasis ours)

Download Settlement_Planning_Guide_ TSSG 95 pct in 5 years

FLASHBACK...

"Among structured settlement industry myths, two are especially pernicious, long-standing and related:

  • Myth #1: injury victims squander lump sums. Nine out of 10 lump sum recipients dissipate the entire amount within five years.  (emphasis ours)
    • 
    -Excerpt from Blog Post  Dissipation Studies Patrick Hindert, the current Managing Director of TSSG June 23, 2009

Hindert chose to use an adjective that means "Tending to cause death or serious injury; deadly: a pernicious virus. - Causing great harm; destructive: pernicious rumors, Evil; wicked; malicious: pernicious lies" and assigned an ever greater weight to the purported "dastardly deed" by qualifiying it with the adverb "especially".

Our "assiduous research" has only uncovered one published statement (by a factoring company) which uses the 95% in 5 years dissipation assertion, but no factual support. Earlier this year the factoring company (which published the claim on its website) was challenged to come up with the proof to support its claim and failed to do so.

 

Posted at 04:30 PM in Dissipation Myth Regarding Lump Sums, Patrick Hindert, The "Shriek" of the Week |

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