by Structured Settlement Watchdog®
A Florida structured settlement factoring company was about to take advantage of a vulnerable minority woman from the West Coast in an improvident transaction that would have left the woman without anything to live on. Fortunately the woman's daughter read this blog and told her mother to contact the Structured Settlement Watchdog®, which she did.
There is a Right Way and a Wrong Way of Funding. This is the Wrong Way
The Florida structured settlement factoring predator's game plan was to have the deal done in Georgia and they were purportedly going to put the woman up in a hotel for one month prior to the transfer hearing. The woman had no property in Georgia, no family in Georgia, just a friend. So the Florida structured settlement factoring predator was inducing the woman to commit fraud in a manner that is unfortunately common with the many scammers in the structured settlement secondary market.
The structured settlement was a workers compensation structured settlement with a medicare set aside, which is virtually impossible to sell in any case because the insurer will object.
Finally the Florida Structured Settlement factoring predator's diabolical scheme was destined to fail in Georgia based on legal precedent. See Singer Asset Finance Co. v CGU Life Insurance Company of America Supreme Court of Georgia (15 Jul, 2002) 275 GA 328 (2002)
Don't be a victim twice!
If you are a structured settlement annuitant and considering selling your valuable structured settlement payments, NEVER go forward with any cash in your annuity company that offers to fly, bus or train you to another state and suggests you should state on a legal document presented to a Court that you live in a state that you don't, no matter how much you need the money. The company that you think is helping you will turn on you, extend a figurative middle finger and say you were complicit in the fraud.
These predatory companies target vulnerable African Americans and Hispanic minorities with structured settlements.
If you are approached by a company offering cash now for structured settlement, that is trying to scam you like this, please contact the Structured Settlement Watchdog. Read about the Structured Settlement Watchdog's pro bono work.