by Structured Settlement Watchdog
Structured settlement factoring company Novation Funding may have more volts jolting through them figuratively speaking, than their remarkable spokesman Hector Picard did, if what I read is true. Here's what it says in the plaintiffs reply in support of motion for class certification a Telephone Consumer Protection Act (TCPA) case Kevin Buja, individually and, on behalf of others similarly situated, Plaintiff v Novation Capital LLC et al. United States District Court Southern District of Florida Case 9:15-cv-81002-KAM Document 182
"Defendants dispute every element of class certification except numerosity, apparently conceding that the 113,010 unwanted calls to 3,577 accounts reflected in their own records suffice. See Dkt. 145 1 (“Motion”) , ¶¶ 16, 21, 23
These were 3,577 unique accounts, comprised of accounts that received two or more calls within a one year period; broken down as: 279 persons called after they were added to DNC list and 3,375 persons called after they should have been added to the DNC list)".
What is the TCPA?
The Telephone Consumer Protection Act of 1991
- Prohibits solicitors from calling residences before 8 a.m. or after 9 p.m., local time.
- Requires solicitors maintain a company-specific "do-not-call" (DNC) list of consumers who asked not to be called; the DNC request must be honored for 5 years.
- Requires solicitors honor the National Do Not Call Registry.
- Requires solicitors provide their name, the name of the person or entity on whose behalf the call is being made, and a telephone number or address at which that person or entity may be contacted.
- Prohibits solicitations to residences that use an artificial voice or a recording.
- Prohibits any call made using automated telephone equipment or an artificial or prerecorded voice to an emergency line (e.g., "911"), a hospital emergency number, a physician's office, a hospital/health care facility/elderly room, a cellular telephone, or any service for which the recipient is charged for the call.
- Prohibits autodialed calls that engage two or more lines of a multi-line business.
- Prohibits unsolicited advertising faxes.
- In the event of a violation of the TCPA, a subscriber may (1) sue for up to $500 for each violation or recover actual monetary loss, whichever is greater, (2) seek an injunction, or (3) both.
- In the event of a willful violation of the TCPA, a subscriber may sue for up to three time the damages, i.e. $1,500, for each violation.
Could be Rather Expensive for Novation Defendants if This Pans Out
At $500 per call statutory damages under the TCPA would add up to $56.54 million or so against Novation Funding , Novation Capital et al. Punitive damages for willful violation of the TCPA could result in treble damages.
In my opinion, based on years of observation, Novation Funding is one of the worst predators in the structured settlements secondary market. I have documented how Novation has skanked a number of African Americans in obscenely horrible deals at the same time as they falsely advertise maximum payouts.
And if Novation is doing it, you can be sure that there are other raptors engaging in the practice.
Perhaps Pitbull said it best…
It's going down, I'm yellin' "Timber"…