by Structured Settlement Watchdog
In October I called out Toronto based Strategic Capital Corporation for making the vacuous claim that it gave "the fastest structured settlement payouts of all time" when
soliciting US citizens to sell their structured settlements (and paying money to buy influence with trial lawyer associations), without any verifiable statistics to prove it. Stratcap cannot back it up as expected having been given generous 2 months to do so. You'd think if you have the balls to make that kind of extraordinary and hard to believe claim, you would have stats at the ready to back it up.
There have been billions of dollars in structured settlement factoring deals consummated industry wide over a 20 year period. Knowing that a few of my industry brethren trust Stratcap owner David Meyerowitz makes it all the more puzzling why David Meyerowitz and his company cannot substantiate what appears to be a dubious claim his company has made to the clients of the members of the trial lawyer associations that Stratcap throws money at for business.
Maybe Meyerowiz doesn't give a rat's rump. But I do.
When consumers see or hear an advertisement, whether it’s on the Internet, radio or television, or anywhere else, federal law says that ad must be truthful, not misleading, and, when appropriate, backed by scientific evidence. The Federal Trade Commission enforces these truth-in-advertising laws, and it applies the same standards no matter where an ad appears – in newspapers and magazines, online, in the mail, or on billboards or buses.
The National Association of Settlement Purchasers (NASP), of which Strategic Capital is a member, represented to the Maryland Attorney General on September 9, 2016 and published on it works every day to promote best practices, consumer protections, and the highest ethical standards in the structured settlement purchasing industry. Given this claim by Strategic Capital, the rubbish put out by Novation Capital about "maximum payouts" (after its shafted Cedric Martez Thomas and a number of other young African Americans), the leadership of NASP has some work to do to keep its membership in line with the virtues NASP extolls to the public.
I will continue to keep the spotlight on members of the structured settlement secondary market who make unsubstantiated advertising claims.