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December 31, 2015

Novation Funding LLC Shameless False Advertising That "It Was Always Fair"

by Structured Settlement Watchdog®

Under pricing a bizarrely filed Florida structured settlement factoring transaction by $1 million plus,  for a naive 21 year old named Cedric Martez Thomas, is not fair by any stretch of the imagination.

Yet Novation Funding LLC,  a member of the National Association of Settlement Purchasers is apparently attempting to pull the wool over consumers' eyes through misdirection by using adaptive athlete  Henri Picard's alleged words " they were always fair".  If ever there was an invitation to hoist them on their own petard!

The question is whether adaptive athlete Henri Picard knows how badly fellow consumer Cedric Martez Thomas got shortchanged by the company he touts, Novation Funding LLC, whether or not cloaked as its DBA  365 Advance Services

If Henri Picard knew would he continue to permit Novation Funding LLC to use his image and purported testimonial?

Should Novation Funding LLC contact Cedric Martez Thomas and explain to him why he only got $1million when he could have received $2 million plus? In my opinion, yes,  and Novation Funding LLC and its investors should make it right to him, get the transfer order of October 2015 vacated and give him a market rate.

There are laws on the books called Structured Settlement Protection Acts and this case, among others would be a great segment for journalist seeking to highlight how these acts in many cases are inadequate to protect vulnerable consumers. This is a matter of national public interest.   This is a matter that should be of interest to Federal and State lawmakers who need to learn how badly this young man was shortchanged.  At the very least, a great story to teach young people about money.

 

 

 

 

Posted at 03:23 PM in False Advertising Re Creating, Buying or Selling Structured Settlements, Novation Settlement Solutions | Novation Funding Commentary , Structured Settlement Factoring News, Structured Settlement Watchdog® |

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Guide to Structured Settlements 2025

  • What is a Structured Settlement? What You Need to Know
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  • 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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    In 2025, you can structure your settlement payments in various ways. A structured settlement allows for multiple payment types within one agreement. You can tailor and merge different structured settlement payments to suit your individual needs, either alone or alongside other financial instruments. If desired, diversify your structured settlement by utilizing multiple annuity issuers, treasury-funded structured settlements, index-linked structured settlement payments, and market-based structured options.
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    Structured attorney fees offer a financial strategy that provides a unique method for deferring taxes for attorneys and their firms. Attorneys can structure or defer their legal fees independently of whether the plaintiff structures their settlement. There are various ways to structure attorney fees, including capped or uncapped index-linked structured settlement annuities with payments adjusted according to the S&P 500 or another index's positive changes. Trial lawyers might also opt for a special deferred payment/compensation arrangement if they seek market-based returns without a cap. As the year-end approaches, consider adding structured attorney fee specialist John Darer® to your settlement planning team for 2025.
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  • What Are Structured Settlement Annuities?
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  • History of Structured Settlements
    Tracing the roots of structured settlements history from 1918, when Congress exempted damages for personal injury or sickness from income tax, to the establishment of structured settlements as a core personal injury settlement planning tool to the present day.
  • What Are Market Based Structured Settlements?
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Qualified Settlement Funds

  • What is a Qualified Settlement Fund?
    Qualified Settlement Funds | What You Need to Know
  • Firmwide Qualified Settlement Funds Debunked
    Firmwide qualified settlement funds have been heavily promoted to trial lawyers, but have been debunked in a detailed analysis in a July 2022 legal opinion a tax partner at the law firm of Faegre Drinker Biddle & Reath, LLP. Trial lawyers and firms who have established Firmwide QSFs or coinsidering establishing a Firmwide QSF should read the analysis as part of their evaluation.

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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
  • When it comes to settlement documents it is the ultimate responsibility of the lawyers or claims adjusters who receive input concerning the structured settlement aspects of the documents to actually read the entire document, exercise independent thought and advise their clients properly
  • Be aware that financial advisors use of testimonials is prohibited or restricted
  • 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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Why Take a Structured Settlement?

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