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September 15, 2015

Peachtree Settlement's Poached "Goose Egg" in Houston "Gazumpa's Paradise"

by Structured Settlement Watchdog®

It wasn't sunny side up for Peachtree Settlement Funding as another court – this time the United States District Court in Houston – has handed down a decision that supports gazumping of a settlement purchaser's bid to purchase structured settlement payments prior to the signing of a structured settlement transfer order.  Supporters say the Houston decision stifles anti-consumer and anti-competitive practices and some might say, to paraphrase rapper Coolio, in Houston at least,  it's a "gazumpa's paradise". 

Peachtree gets goose egg in Houston
Goose Eggs For the Gazumped?

Plaintiffs Settlement Funding and Peachtree sought a permanent injunction preventing Defendants
Rapid Settlements, Ltd., (“Rapid”), Rapid Management Corp., RSL Funding, LLC, (“RSL”), Stewart A. Feldman, and their affiliates from interfering with Settlement Funding and Peachtree’s factoring
agreements.  The Defendants obtained the information about the cases from scraping the court record of the Peachtree transfer filing and contacting the annuitant with a better offer.

JG Wentworth/Peachtree has allegedly threatened its competitors for years with lawsuits if "its customers" were approached with a better deal ("mo' money" ) for the consumer.   Given that a filing for the sale of lotteries and structured settlements has to sit at the courthouse generally for at least three weeks, competing buyers have the opportunity make higher offers to customers selling their structured settlements, leading to a better deal for the consumer and a worse deal for JG Wentworth/ Peachtree.  The federal court in Houston ruled – now about the 3rd or 4th court so holding – that a competitor is free to solicit so-called "Wentworth customers" at least right up until the court order is signed – maybe thereafter until it is final weeks later.  The filing of a transfer agreement or a contract does not stop the customer from continuing to seek higher bids.  According to our sources, Wentworth has spent an estimated $1 million trying to shut down these practices.

Case Cite: IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION SETTLEMENT FUNDING LLC, et al., Plaintiffs vs RSL FUNDING, LLC, et al.,  Defendants.  CIVIL ACTION NO. H-12-2044  Document 281

Download Order re limine dismissing Peachtree tortious interference claim dkt 281 (2)







Posted at 02:03 PM in Houston Structured Settlements, J.G. Wentworth, Peachtree Settlement Funding, RSL Funding/Rapid Settlements, Structured Settlement Factoring, Structured Settlement Factoring News, Texas Structured Settlements, TX structured settlements |

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Guide to Structured Settlements 2021

  • What is a Structured Settlement? What You Need to Know
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  • How Do Structured Settlements Work? How Structured Settlements Worktured Settlement Diagram
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  • Rated Ages and Structured Settlement Cost
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    Which life insurance companies issue structured settlement annuities going into 2021? A list of current structured annuity issuers, the location of their home offices and their financial ratings from A.M. Best, Moodys, Fitch, Standard & Poors, links to their websites and other useful information.
  • Treasury Funded Structured Settlements
    Treasury Funded Structured Settlements are a settlement option for the most conservative using the OTHER permissible qualified funding asset under IRC 130(d), United States Treasury Bonds in addition to, or instead of, structured settlement annuities. Treasury Funded Structured Settlements can also be used to fund installment sales, also known as structured sales and other non qualified structured settlements.
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    Use the Taxable Equivalent Yield chart to help compare the Internal Rate of Return (IRR) of a structured settlement to other alternative or complementary investments. Need help with the chart? Call 4structures.com® LLC at 888-325-8640
  • Structured Settlement Payments | Types of Structured Settlements
    Ways You Can Structure Your Settlement Payments. With a structured settlement you can have more than one type of payment in a single contract. Different types of structured settlement payments can be customized and combined to meet your needs on a stand-alone basis, or in conjunction with other financial products. Diversify your structured settlement, if you wish, by funding with more than one annuity issuer, with treasury funded structured settlements, index linked structured settlement payments and market based structured .
  • Structured Attorney Fees for Tax Deferral for Contingency Fees
    Structured attorney fees is a financial strategy that offers a unique way to defer taxes for lawyers and law firms. Lawyers CAN structure their legal fees even if the plaintiff doesn't structure their settlement. There are multiple ways to structure your attorney fees, such as the an index linked structured settlement where payments are adjusted based on upside changes in the S&P 500 with no downside and a cap of 5%. Trial Lawyers may also use a special deferred pay/deferred compensation arrangement, if market based returns returns are desired with no cap. Plan NOW for year end! Put structured attorney fee expert John Darer® on your settlement planning team.
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  • What Are Structured Settlement Annuities?
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  • History of Structured Settlements
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