by Structured Settlement Watchdog
Novation Funding recently "nutmegged" a Southington Connecticut resident for an 18% effective discount rate and a New Britain CT judge approved it. It is yet another nail in the coffin for proof that Novation Funding is false advertising "Selling Structured Settlements for Maximum Lump Sum Payouts". The maximum payout claims of Novation Funding, which also does business as Novation Settlement Solutions and 365 Advance Services, are absolute rubbish. The degree of rubbish can be proven time and some again by "scraping court records" and looking at the deals.
18% is financial rape for selling a payment in 2017 that is due in 2021. Novation paid $20,114 for a partial lump sum of $40,591.55 due November 4, 2021. I made a single call today and was able to secure a quote that was 20% higher. See Novation Funding LLC v Luke Burr HHB-CV17-6037899-S
In October 2015 Novation Funding financially raped an African American New York resident with almost a $1.5M profit spread. Novation was nowhere near the maximum lump sum payout. Yet it continues to falsely advertise fueled by New York hedge fund backing.
The National Association of Settlement Purchasers Code of Ethics is a joke when members like Novation Funding continue to falsely advertise but cannot deliver maximum lump sum payouts.