by Structured Settlement Watchdog®
Novation Funding continues to lie and intentionally mislead American consumers that it pays the maximum payouts in structured settlement factoring transactions when it has not. Novation Funding operates under several DBAs including 365 Advance Services and Novation Settlement Solutions. These two easily disproven pernicious myths appear on the Novation Settlement Solutions website today
Novation Funding LLC Lie Number One
- Sell Structured Settlements for Maximum Lump Sum Payouts
Novation Funding LLC Lie Number Two
- Quick Decisions and Maximum Payouts
Because Novation Funding has already jacked up Cedric Martez Thomas for an over $1,400,000 spread, any claims it makes about maximum payouts are simply not credible. Novation did that deal at a 15.24 % discount rate, which was not competitive and forced a young AIG annuitant to sell more payments than he had to. My write ups on Novation Funding here.
While it remains to be seen how the recent reforms to the Florida Structured Settlement Protection Act play out, it is clear that legislators need to set rules to curb the predatory solicitation practices of NASP member companies, like Novation Funding LLC (and its DBAs)