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August 07, 2020

CBC Settlement Funding Mocks NY SSPA With Laughable Structured Settlement Transfer Petitions in Nassau and Suffolk County

by Structured Settlement Watchdog

CBC Settlement Funding's apparent lack of attention to detail in what is published to generate leads for their business extends to oversight of two New York transfer petitions its lawyers submit to the Courts in its name.

1. Nassau County Index 0607989/2020  M. Curry case  Judge Randy Sue Marber  8/6/2020 hearing.. Sale of $120,500 for $87,000 

Seller's Affidavit #11 says  " the money I receive will allow me to purchase a home. This will financially help me to not have the burden to rent which can increase annually. But #12 says "...allow me to better my life, as well as my families (sic) through building this addition on my home.   

Download 607989_2020_CBC_SETTLEMENT_FUNDING_v_CBC_SETTLEMENT_FUNDING_EXHIBIT_S__6 M. Curry

2. Suffolk County Index 0607989/2020  Ragusa case  Judge David T. Reilly  8/20/2020 hearing.. Sale of $150,000 for $90,500

Download 605129_2020_CBC_Settlement_Funding_v_CBC_Settlement_Funding_EXHIBIT_S__6 Ragusa

Seller's affidavit #11 says  " the money I receive from CBC will allow me to pay for my daughter's tuition for school and pay off my outstanding child support. But at #12 says "...allow me to better my life, as well as my families (sic) through  building this addition on my home".

What a "coincidence"! Two different sellers in structured settlement transfer petitions submitted to courts in two different New York counties have the same exact typo in their affidavit. Furthermore, in both cases #12 makes no sense in light of #11.  I hope that Judge Reilly and Judge Marber pay closer attention than the Queens attorneys for CBC Settlement Funding in these two matters.  What would a wider investigation show?

I previously reported in a sampling of cases attorneys for CBC Settlement Funding cited cases from more than 12 years old to 17+ years old to justify less than competitive current discount rates.

These types of things make a mockery of the New York structured settlement transfer process, in my opinion. Any judge that pays attention will see the incongruity.

Posted at 01:23 AM in CBC Settlement Funding Commentary, Secondary Market For Structured Settlement Payment Rights, Structured Settlement Factoring, Structured Settlement Factoring News, Structured Settlement Transfers, Structured Settlement Watchdog®, Structured Settlements in Nassau County, NY, Suffolk County Structured Settlements |

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  • Treasury Funded Structured Settlements
    Treasury Funded Structured Settlements are a settlement option for the most conservative using the OTHER permissible qualified funding asset under IRC 130(d), United States Treasury Bonds in addition to, or instead of, structured settlement annuities. Treasury Funded Structured Settlements can also be used to fund installment sales, also known as structured sales and other non qualified structured settlements.
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    Ways You Can Structure Your Settlement Payments. With a structured settlement you can have more than one type of payment in a single contract. Different types of structured settlement payments can be customized and combined to meet your needs on a stand-alone basis, or in conjunction with other financial products. Diversify your structured settlement, if you wish, by funding with more than one annuity issuer, with treasury funded structured settlements, index linked structured settlement payments and market based structured .
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  • What Are Structured Settlement Annuities?
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