by Structured Settlement Watchdog®
I doubt Cedric Martez Thomas fancies himself as a "sucka". He's a 21 year old with the world at his feet and a cool $1,037,000 in cash coming his way so he can be the next Donald Trump.
Cedric Martez Thomas cut a really bad deal with 365 Advance Services to sell $6.6 million in structured settlement payments for about one fifth that amount $1,037,000 when our structured settlement secondary market scan says that he could have reaped as much as $2,500,000 in cash. Too bad he didn't have the capable advice of Number Two, that Dr. Evil had. The deal was approved in Okeechobee Florida on October 29, 2015.
Cedric Martez Thomas' affidavit submitted with the Petition to Transfer on October 1, 2015, says he wanted to sell his structured settlement payment rights "to invest in real estate". Just think about the real estate investing possibilities that Cedric could have had with almost 2 1/2 times more. I was able to determine that on my first phone call. He could have bought more properties that generated more income. or he could have sold less of his structured settlement to get the $1,037,000 that 365 Advance Services paid him and would have been able to meet his goals and still had a substantial steady income tax free stream of income.
What I find fascinating is that JG Wentworth spends $20 million or more in advertising annually and 365 Advance Services finds this huge deal without any internet presence [ searches for 365 Advance Services comes up empty on Google, Yahoo, Bing Better Business Bureau] and no advertising. How is that possible? How would anyone even know to contact 365 Advance Services?
I checked the Secretaries of State in Florida, New York, California, Nevada, Delaware, Georgia and Wyoming and nothing comes up.
So did an advisor turn Cedric Martez Thomas onto 365 Advance Services? If so, did the advisor shop around. Did he or she advise Cedric Martez Thomas that there was in excess of $1.4 million spread in the deal?
One way or another if I had a structured settlement, I would not recommend that anyone deal with 365 Advance Services because of the plundering optics on the Cedric Martez Thomas deal. It is clear on this showing that 365 Advance Services had the investor's interest and not the consumer's interest as a priority.