by Structured Settlement Watchdog
Once again 10 TopTen Reviews has bombed in an attempt to explain structured settlements. This years offering , replete with inaccuracy, was penned by Tamsin Oxford, a freelance technology journalist with a career that spans numerous platforms, technology solutions, markets and industries. She has written and edited numerous technology publications that include PC Zone, PC Format, PC Answers, PC World and many more.
Misinformation about structured settlements promulgated by 10 Top Ten Reviews
A. "Structured settlements can be fairly limiting. You’re stuck with the amounts you agreed with and you can’t change the terms once you’ve signed. You
can’t access the money if you have sudden and unexpected financial needs, even though it’s technically yours, and you can’t move the funds to an investment fund that offers you better returns".
B. "There are also fees associated with accessing money from your structured settlement before a certain date, and you are facing some taxes that will vary dependent on how you approach your settlement and what you need to do".
C. Selling to one of the companies that 10 Top Ten Reviews is shilling for "you will lose some of the money to fees and taxes, but you get to access the settlement on your terms". "This also helps you to bypass the complexities of dipping into the structured settlement or the limitations of changing it"
D. Find out how long the company has been in business – you’re less likely to be dealing with scammers if the company has been operating for several years. Long-standing companies are also more likely to be in compliance with the various rules and regulations that govern the selling of structured settlements and annuities.
What's Up With That?
- An admission that a structured settlement is something that you agreed to, or your parent or guardian agreed to.
- Any limitations are to protect the tax treatment.
- With a structured settlement you, or your guardian signed a settlement agreement that acknowledges that you do not have the control of the structured settlement funding amount. You never took receipt of the money so it's not " technically yours". What is yours is the right to receive the structured settlement payments. If the money was technically yours then you wouldn't need the structured settlement cash now pushers that 10 Top Ten Reviews is shilling for.
- If you do business with any company that 10 Top Ten Reviews is shilling for, you will get hammered and only receive pennies on the dollar. Selling a structured settlement is always a money loser.
- If you engage in a compliant structured settlement factoring transaction, and the structured settlement payments represent damages that are excluded under IRC 104(a)(2) and 130 (c) , then there should be no taxes on the lump sum you receive from selling your structured settlement.
- You can't "dip into your structured settlement". That might best be described "punetically" as a " Guac-a -shit". A structured settlement does not contain avocado, garlic, salt, lime juice, jalapenos and tomatoes, nor is it a salsa.
- Long standing companies are not substantive indicator of ethics. Seneca One was a long standing company that deceived consumers with fictional National Settlement Registry and National Structured Settlement Registry. Seneca One financially raped Lauren Nesbitt for in excess a million dollars. Novation is a long standing company that targeted and financially raped a young African American New Yorker for more than a million dollars. Two class action law suits are pending. Lee Jundanian was promoted by Einstein Structured Settlements as a visionary. Fast forward a few years and Jundanian is at the center of the Access Funding debacle as the founder of Access Funding in 2012. Maryland Attorney General Brian Frosh is quoted in the Washington Post on Access Funding, " they sought 'lead paint virgins' and bought their settlements. It will be hard for those victims to get their money back. Einstein structured settlementsa associated with the Owings Mills pair Richart Ruddie and Ryan Blank of JRR Funding, the two's companies being banned for 7 years for fraud starting from January 2018.