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April 12, 2013

Structured Settlement Buyers That Only List Mail Drops | Why Do Business With Them?

by Structured Settlement Watchdog®

Two more structured settlement buyers use mail drops for the addresses listed on the company website. One structured settlement buyer uses a box at a UPS Store (making it at least two companies which only list UPS Store addresses) and the other uses mail drops at other commercial locations.  In one case we've been able to determine through a lot of time and effort, the true ownership of the mailbox. I've got news for you. It "ain't"  in the United States.

Questions for structured settlement sellers?

  • If you had a legal problem with the foreign company where would you serve them?
  • If you are the type that believes you should "buy American" (or in this case "sell American)  wouldn't you want to know that the entity that you are dealing is American run, or located in the continental United States?
    Whats in that box bub
    What's in the mailbox bub?
  • How do you feel about doing business with "virtual reality"? If you are thinking about doing business with a company that is offering to buy your structured settlement, consider only doing business if the company gives up its real address. If a company will not give up its real location you simply have to ask yourself why? 
  • A Google Earth search of one of the addresses that came upon the Better Business Bureau report for a current settlement purchaser, from a report supplied by an informant turned out to be the middle of an undeveloped field in Maryland.

Stay tuned for follow up blog posts on the topic.  Members of Congress, Board members of NSSTA, SSP and NASP I hope you are watching.

 

 

Posted at 04:31 PM in Factoring Company Bad Business Practices, Structured Settlement Buyers, Structured Settlement Factoring, Structured Settlement Transfers, Structured Settlement Transparency Initiative, Structured Settlement Watchdog® |

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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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