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February 06, 2017

Did SC "Victim" Bang The Boards With Cash Advance "Sandy Lyle" on JG Wentworth, US Annuity Svcs and Novation?

by Structured Settlement Watchdog

In delving a bit deeper into the Allyson Rainey matter it appears that Ms. Rainey could be performing a "Sandy Lyle", Ruben Pfeffer's wing man in the 2004 movie "Along Came Polly" who flattered to deceive in shooting a basketball, promising to "make it rain" net, however left those with whom she signed contracts with nothing but board.

 

In the September 15, 2016 transcript, Ms. Rainey testified that she made it clear that she was"not interested in making any kind of deals or hearing any kind of offers on selling her lump sum payments.” –Yet the fact is in digging deeper into her record it appears that she engaged at 2 more attempts at such shortly therafter. Furthermore in the September 15, 2016  transcript Ms. Rainey was concerned about keeping the advance she received.  In two separate filings made in December 2016, made with Novation and then JG Wentworth in the same court 13 days apart one wonders if she indeed received advances from those two companies and then purposefully got those deals dismissed, such as they were on January 11, 2017 and January 20, 2017 respectively.   I have reached out to Ms. Rainey and the SC Department of Consumer Affairs for comment.

Transfers/Attempts

Name

Party Type

Case Number

Filed Date

Case Status

Disposition Date

Type

Subtype

Judgment #

Court Agency

Rainey, A

Transferor

2014CP2303839

07/14/2014

Dismissed

10/31/2014

App/Trans/Rts

App/Trans/Rts (760)

 Dismissed WO Prejudice  

Greenville County Common Pleas

Rainey, A

Transferor

2015CP2304373

07/13/2015

Dismissed

10/28/2015

App/Trans/Rts

App/Trans/Rts (760)

 Denied Attempt

Greenville County Common Pleas

Rainey, Alyson

Transferor

2016CP2304824

08/15/2016

Referred To Master

  

App/Trans/Rts

App/Trans/Rts (760)

 USAS Case

Greenville County Common Pleas

Rainey, A

Transferor

2016CP2307269

12/08/2016

Dismissed

01/11/2017

App/Trans/Rts

App/Trans/Rts (760)

 Dismissed – Novation

Greenville County Common Pleas

Rainey, A

Transferor

2016CP2307528

12/21/2016

Dismissed

01/20/2017

App/Trans/Rts

App/Trans/Rts (760)

 Dismissed – JG

Greenville County Common Pleas

Many structured settlement factoring companies offer cash advances as inducements.  Some as high as $5,000 or $10,000.  Ironically such inducements would be illegal to make to a prospective annuitant when the structured settlement is established. One annuitant, whose case made the front page of the Washington Post, was plied with over $200,000 in total advances.  The good intention gone bad with these advances is to help someone in dire need, for example with emergency cash to pay rent and avoid eviction, avoid electricity being turned off or having a car repossessed, while a structured settlement transfer is pending.  A number of factoring insiders have told me anecdotes of annuitants who abuse the system hustling them out of cash advances, cell phones and other swag.  There is so much profit in these deals that some of these companies don't care.

Posted at 09:07 PM in Annuitant Cash Advance Fandango, Columbia SC Structured Settlements, Greene County Structured Settlements, South Carolina Structured Settlements, Structured Settlement Factoring, Structured Settlement Factoring News |

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