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October 18, 2015

DRB Capital Chief | Settlement Purchasers Are Structured Settlement "Police" Debunked

by Structured Settlement Watchdog®

n January 2000, while at Peachtree Settlement Funding,  DRB Capital Chief Jim Terlizzi characterized settlement purchasers as the "police" in a Business Insurance article entitled "Exposing Structured Settlement Scams".  The only thing I see in common between "The Fuzz" and Chief of DRB Capital is the ZZ at the fanny end of each. Time has proven that Terlizzi's claims weren't worth the paper that they were written on.

Terlizzi incredibly characterized structured settlements , which are funded with regulated insurance products,  issued by licensed insurance companies and placed by licensed agents or brokers, as a three card Monte game at a time that his "police" weren't required to carry a badge and there was no "Internal Affairs Bureau. His Peachtree charged some of the highest discount rates around. Here is my podcast "Structured Settlement Scam Hoax", my response to "ZZ" top Terlizzi's "Tube Snake Boogie" and other scam-mongers in the structured settlement secondary market.

 

None of Terlizzi's "Three Card Monte players" have been the subject of a Washington Post cover story. 15 years on members of the settlement purchasers'  "police" squad are reeling from contemporary allegations of bad business conduct that I have cataloged here and has been reported elsewhere.  The subject of the sub-industry's bad business conduct has been a hot topic at recent meetings of the National Association of Settlement Purchasers, an admission.  Prior to Terlizzi's arrival at DRB Capital, DRB Capital misrepresented a stock photo as one of its customers.

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A contemporaneous response to Jim Terlizzi's outrageous 2000 piece,  by the late esteemed Chicago trial lawyer Philip Corboy, referred to Terlizzi's industry as "a new breed of aggressive hucksters", a term later echoed by Texas trial lawyer Joseph Jamail in 2008.  Netti C. Vogel, a judge in Rhode Island later referred to them as vultures, a flesh ripping scavenger moniker that has stuck, to the chagrin of players in the settlement purchasing industry that try to do things right.

 

Posted at 11:48 PM in Peachtree Settlement Funding, Structured Settlement Factoring News |

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Guide to Structured Settlements 2021

  • What is a Structured Settlement? What You Need to Know
    What you need to know about structured settlements. General explanation of structured settlements, including the stable guaranteed income and favorable tax benefits that give structured settlements their "juice" and a helpful introductory video featuring 2021 A.M. Best Recommended structured settlement expert and Registered Settlement Planner John Darer® of 4structures.com® LLC
  • How Do Structured Settlements Work? Structured Settlement Diagram
    How structured settlements work, accompanied by 4structures.com® LLC's helpful structured settlement flow chart/diagram showing how structured settlements fit in with other settlement planning solutions.
  • 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 or even an index linked structured settlement.
  • 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.
  • Structured Settlement Annuity Company Customer Service Phone Numbers
    Receiving structured settlement payments from your own structured settlement or inherited structured settlement? You'll like this huge time saver. Click for a comprehensive list of customer service telephone numbers that includes both current AND former structured settlement annuity issuers and reinsurers. If you have simple bank or beneficiary changes, or if the insurance company that issued the structured annuity has merged, sold or spun off its block of structured annuity business (e.g. Aviva, Transamerica, AEGON, GE Capital, Liberty, CNA) or changed its name and you're trying to track them down, here you go! The list is regularly updated. Last update October 2020.
  • Structured Settlement Quote Lock-Ins | What You Need To Know
    What does a Structured Settlement Lock-In Mean? How do plaintiffs, defendants and insurers benefit from a structured settlement quote lock in when finalizing a settlement? How does the defendant/insurer/court benefit from using a structured settlement lock-in? Where to be careful when using structured settlement lock ins.
  • What Are Structured Settlement Annuities?
    Structured settlement annuities are annuities that can provide one or more customized annuity payment streams in a single contract. Read about structured settlement annuities here.

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Structured Settlement Best Practices Corner

  • 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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  • Most states require that Testimonials represent the CURRENT opinion of the person who made the testimonial. Be prepared to back it up.
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