by Structured Settlement Watchdog®
I hope that Genex Capital CEO Roger Proctor's medical marijuana business, Abaca Rx, is faring better than his economic forecasting for structured settlement annuitants. .
"WARNING AGAIN: If you are thinking of selling your structured settlement payments, do it NOW, before interest rate increases eat into the value of your future payments and make you poorer".Proctor started pushing that line in June 2009, to harvest structured settlement payments from would be believers.
Proctor's sense of urgency and act of "clairvoyance" proved to be unfounded and interest rates actually declined, in some cases massively. Lower interest rates mean a higher present value for your structured settlement payments.
According to Inflation Data.com the rate of inflation from December 2014 through November 2015 was a paltry 1.07%. If you bought into Genex Capital's "rescue plan" and sold your structured settlement to Genex Capital based on that fear mongering, you probably lost big money.
Proctor was not alone in his wolf calls. In 2008 a number of other cash now for structured settlement companies began attempting to "hustle" AIG structured settlement annuitants out of their structures, with the help of state court judges, with fear mongering about AIG life insurance company subsidiaries that proved to be unfounded.