by Structured Settlement Watchdog®
CBC Settlement Funding in sleazy predatory scheme to trick structured settlement annuitants
In 2013, CBC Settlement Funding, now a wholly owned subsidiary of publicly traded Asta Funding, Inc., sent outrageous predatory mailers to structured settlement annuitants asking them if they were ready to start reaping benefits from being a Settlement Union Member. the mailer also used the term "Membership Rewards", a term of which American Express then and now holds an active registered trademark. If you Google the term ' Settlement Union' you won't find it. It is just official sounding easily rubbished 'chitterlings', from a company that was trying to make a fast buck off of consumers. Here is a copy of the mailing which CBC's rocket scientists mailed to one of its competitors. Download Settlement Union CBC Settlement Funding Marketing BS 2013. The conduct of CBC Settlement Funding is only possible due to the lack of regulation of sales practices in the structured settlement secondary market.
CBC, the Conshohocken PA company, whose founders spun off from JG Wentworth in 2004, is a member of the National Association of Settlement Purchasers which includes other members like Seneca One who have used similar tactics.
Seneca One's sleazy predatory scheme to trick structured settlement annuitants
Seneca One, a settlement purchaser from Bethesda MD, has used the deceptive name " Settlement Accounting" to contact court scraped structured settlement annuitants with their deceptive solicitations. The reality in the small print is that Settlement Accounting is a trade name Seneca One has used and the "accounting mistake" that purportedly led to the consumer contact is contingent on the annuitant "having at least $50,000 in purchasable structured settlement payments that are payable over the next 10 years" Here is a sample of Seneca One's solicitation Download Seneca One Court Scrape Marketing BS 9-27-2013.
Seneca One has also solicited structured settlement annuitants on the basis of an official sounding but bogus structured settlement registry and other official sounding but bogus entities. Brian Frosh are you interested?
The years 2012-2015 saw a level of flabbergasting deceit and deplorable business conduct from the structured settlement secondary market. The dipstick is only about an inch into the NASP septic tank. You get the feeling that there are yards more to go.
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