by Structured Settlement Watchdog
This morning I had a report of a solicitor for one of the members of the National Association of Settlement Purchasers (NASP) who cold called a structured settlement annuitant "and harassed them more than once a day every day for a couple of months".
In another report a solicitor for another factoring company contacted a structured settlement annuitant who had recently sold some payments with the message "calling you about your recent deal, the interest rates may have been screwed up. Please call us so we can straighten it out".
If you have heard the same bogus sales pitch to sell your structured settlements, or you have been harassed by a settlement purchaser on this list of NASP members, or any other company, I want the details.
The National Association of Settlement Purchasers holds out to the public that it has a Standard of Conduct which states, in part:
"Business practices that reflect negatively on the secondary market, which are unfair or deceptive, or which attract criticism from courts, legislators, regulators, or participants in the primary market pose a significant threat to the continued viability of the secondary market. Companies, firms, entities, or individuals that engage in these practices are not welcome in NASP and will not be invited to join NASP or to continue their membership" and "Use their best efforts to comply with all applicable laws, rules, and regulations relative to the secondary market, including applicable federal tax laws and all applicable transfer statutes" (Emphasis added)