by Structured Settlement Watchdog®
The Maryland Cauldron of Deceit has coughed up another fur ball.
Get a load of Seneca One's shady publicity stunt using official sounding words that belies what Seneca One actually does. Seneca One continues to send mailings out under the trade name " Settlement Accounting" (inset) that I first reported about in June 2016. Um, what does that imply?
What is Accounting?
According to Merriam-Webster, accounting is:
the system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results; also : the principles and procedures of this system. The skill, system, or job of keeping the financial records of a business or person — often used before another nouna: work done in accounting or by accountants b : an instance of applied accounting or of the settling or presenting of accounts
Until you read the small print and find out that it's Seneca One lurking in the bushes, someone reading the name might falsely assume that there is a need for accounting if you are receiving payments from a structured settlement. It's total nonsense. Just like these other Seneca One marketing schemes I've reported about that are total nonsense created to suck unsuspecting people in under false pretenses.
- National Structured Settlement Registry
- Structured Settlement Registry?
- "Structured Settlement Processing Group" Is No "Deutsche Treat" | Label is Misleading to Customers
- Settlement Purchasers' Sleazy Direct Mail Solicitations Exposed | NASP Members The Worst Offenders
- Seneca One Finance is The Enemy of Structured Settlements
A structured settlement's simplicity is such that if you are receiving payments from a structured settlement that you received as part of the settlement of your legal claim or you inherited a structured settlement from the death of a spouse, parent or child, there is:
- No need to register the structured settlement
- No need to have "settlement accounting" for the structured settlement. Payments are income tax free if payments are for damages arising from personal physical injury, physical sickness or wrongful death, or workers' compensation claims.
It's a shame that Seneca One, the Bethesda MD member of the National Association of Settlement Purchasers has shown, for almost a decade, such a proficiency at exploiting the lack of regulation by soliciting consumers with what they don't do, instead of highlighting what they actually do.