by Structured Settlement Watchdog
Paymaster.co, a Los Angeles based online solicitor of leads for structured settlement payment buyouts continues to maintain a sloppy information platform that is not much use to consumers.
A. Paymaster.co claims that it will buy your structured settlement payment rights and shamefully claims that you will receive your full payment.
Why Paymaster.co is full of it
This is simply not true. neither Paymaster.co nor any other structured settlement payment buyer will ever pay you your full payment, because they need to make a profit. Paymaster.co will only pay you pennies on the dollar, just like anyone else like them.
B. Paymaster.co continues to list the following Primary Market companies as "Companies that Buy Structured Settlements" without any evidence to support their claims
- Arcadia Settlements Group, Inc.
- Capital Planning, Inc.
- Millennium Settlements, Inc.
- Settlement Planners, Inc. (listed as Strategic Planners, Inc. and Settlement Planners, Inc.)
C. Paymaster.co continues to list UBS Financial Services, Inc. as issuing structured settlements, without any evidence to support the false claims
- Nobody issues structured settlements. A structured settlement is established by contract between settling parties.
- Nearly two decades ago Structured Settlements had issues. Long before Richard B. Risk Jr. became a disgruntled former structured settlement broker turned lawyer and took a swing and whiffed at AIG, Risk authored and published through AMROB Publishing Co., a newsletter called " Structured Settlements" which had issues. Badum- bum-swish.
- In the description Paymaster.co writes that UBS offers a wide range of annuity products from some of the most established and well respected insurance companies in the U.S. Ergo, they do not issue structured settlements, duh.
D. Paymaster.co even Flubs a List of Structured Settlement Consulting Firms
- Oasis Financial, in the legal funding industry. Not a structured settlement consulting firm
- The Pension Company website disabled, phone numbers out of service when dialed March 8, 2020
E. Paymaster.co even flubs the business that it is in by referring to structured settlement transfers as structured settlement annuity loans. Amateurish mistakes performed as if it has never done a structured settlement factoring transaction
Most of the companies that it lists are companies that do pre-settlement non recourse funding which is not a structured settlement transfer.
Why Do So Many Structured Settlement Factoring Company Websites Provide Such Lists of Competing Companies?
To capture traffic off someone else's name
It's just another day at the office however, for certain companies
- Roger Proctor's Genex Capital was an early adopter of the trend in July 2012, after acquiring the website structuredsettlement-quotes.com.
- Proctor's company published a list of its competitors and others on the SSQ website at structuredsettlement-quotes(dot)com.
- SSQ, the Genex Capital company, also included insurance companies that had nothing to do with the business that SSQ/Genex Capital is in. The names of insurance companies were listed along with contact information and URLs to the insurer websites were not live.
- As I exposed in January 2013, Genex Capital "weaponized" the SSQ website by arranging for hundreds of spam links to support its negative SEO tactics against several competitors SSQ Settlement Quotes Engaged in SEO Madness- 843 Steps Beyond.