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March 01, 2023

Annuity.Org's Perverse Contortion of NSSTA Statement is Canard of The Month

by Structured Settlement Watchdog

The Structured Settlement Canard of the Month goes to Annuity.org for its perverse use of a true statement by the National Structured Canard of the month March 2023 Annuity org Settlements Trade Association, to imply that Peachtree Financial, a JG Wentworth company, is a regulated entity under the purview of insurance law and regulated by state insurance commissions

Annuity.org also implied that any structured settlement factoring company that holds itself out as a structured settlement broker, such as Peachtree, is regulated by a state insurance commissions; that any structured settlement purchaser that buys structured settlement payment rights and then assigns them to an investor is selling a regulated insurance product to the investor, instead of  receivables.

Here is the cited quote from the National Structured Settlements Trade Association 

"Structured settlements are funded by annuities and all structured settlement brokers are regulated by state insurance commissions. Structured settlement consultants must also comply with at least seven sections of the U.S. tax code".

"Cultural Misappropriation"

Peachtree Financial bought ads portaying itself as a structured settlement broker. Below is one of three Google paid ads for Peachtree appearing March 1, 2023 in a Google search of the term "structured settlement broker" performed by the Structured Settlement Watchdog. This form of ad can be seen virtually every day.

Peachtree calls self structured settlement broker 3
Peachtree is not a member of the NSSTA, AASC, SSP (the primary industry trade associations to which structured settlement brokers belong). Peachtree is not regulated by state insurance commissions. If only Pecahtree or any other buyer of structured settlement receivables WAS regulated by state insurance commissions or regulated like life settlements, a parallel industry, it would be better for consumers, in my opinion.

The two decade long strategic failure of state legislatures around the United States to deal with a reasonably forseeable problem from the beginning; and to enact laws, such as a licensing standard to address the reasonably forseeable and provide a means to effectively regulate the sale practices of structured settlement factoring companies and those they hire, to the detriment of consumers. 

If all structured settlement factoring companies were indeed regulated by state insurance commissions, there would no doubt be very few companies in the structured settlement secondary market. 

 

 

 

 

Posted at 12:05 PM in Annuity.org | Sweeping Up Poor Annuity.org Research, Factoring Company Bad Business Practices, J.G. Wentworth, JG Wentworth Commentary, Orlando Florida Structured Settlements, Peachtree Settlement Funding, Regulate Structured Settlement Factoring, Structured Settlement Canard of the Month, Structured Settlement Watchdog® |

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Guide to Structured Settlements 2024

  • What is a Structured Settlement? What You Need to Know
    Structured settlements and what you need to know about them including a helpful introductory video featuring A.M. Best Client Recommended Structured Settlement Expert and Registered Settlement Planner John Darer of 4structures.com LLC
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    How structured settlements work, including 4structures.com LLC's super helpful structured settlement flow chart/diagram showing how structured settlements fit in on the spectrum of settlement planning solutions.
  • Rated Ages and Structured Settlement Cost
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    Which life insurance companies issue structured settlement annuities in 2024? A list of current structured annuity issuers, the location of their home offices and their financial ratings from A.M. Best, Moodys, Fitch, Standard & Poors and/or other Tier1 NAIC ratings, with links to their websites and other useful information. Last updated June 14, 2024
  • 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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    Use the Taxable Equivalent Yield chart to help compare the Internal Rate of Return (IRR) of a structured settlement to other alternative or complementary investments. Need help with the chart? Call 4structures.com® LLC at 888-325-8640
  • Structured Settlement Payments | Types of Structured Settlements 2024
    Ways You Can Structure Your Settlement Payments in 2024. 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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    Structured attorney fees is a financial strategy that offers a unique way to defer taxes for lawyers and law firms. Lawyers CAN structure their legal fees even if the plaintiff doesn't structure their settlement. There are multiple ways to structure your attorney fees, such as capped or uncapped index linked structured settlement annuities where payments are adjusted based on upside changes in the S&P 500 or another index, Trial Lawyers may also use a special deferred pay/deferred compensation arrangement, if market based returns returns are desired with no cap. Plan NOW for year end! Put structured attorney fee expert John Darer® on your settlement planning team in 2024.
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    Receiving structured settlement payments from your own structured settlement or inherited structured settlement? You'll like this huge time saver. Click the title for a link to a comprehensive list of customer service telephone numbers that includes both current AND former structured settlement annuity issuers and reinsurers. If you have simple bank or beneficiary changes, or if the insurance company that issued the structured annuity has merged, sold or spun off its block of structured annuity business (e.g. Aviva, Allstate, Transamerica, AEGON, GE Capital, Liberty, CNA, Confederation Life), oran annuity issuer has changed its name and you're trying to track them down. Here you go! The list is regularly updated. Last updated May 20, 2024.
  • Structured Settlement Quote Lock-Ins | What You Need To Know
    What does a Structured Settlement Lock-In Mean? How do plaintiffs, defendants and insurers benefit from a structured settlement quote lock in when finalizing a settlement? How does the defendant/insurer/court benefit from using a structured settlement lock-in? Where to be careful when using structured settlement lock ins.
  • What Are Structured Settlement Annuities?
    Structured settlement annuities are annuities that can provide one or more customized annuity payment streams in a single contract. Read about structured settlement annuities here.
  • History of Structured Settlements
    Tracing the roots of structured settlements history from 1918, when Congress exempted damages for personal injury or sickness from income tax, to the establishment of structured settlements as a core personal injury settlement planning tool to the present day.
  • What Are Market Based Structured Settlements?
    Market based structured settlements are an alternative or supplementary structured settlement solution for the plaintiff, attorney or law firm that: 1. Can afford to take some market risk 2. Have discretionary settlement dollars. Claimants and attorneys alike may find that market-based structured settlements provide the opportunity to receive tax-free income, or tax-deferred income, while enjoying growth potential.
  • iStructure |Uncapped Fixed Index Structured Settlement Annuity
    iStructure is an innovative game changing fixed index structured settlement annuity for plaintiffs or attorneys. with an intermediate to long term horizon
  • Structured Settlements and Longevity Risk| What Are the Odds?
    Do your financial resources give you enough road, or will the road run out before you do? A structured settlement annuity helps mitigate the risk of outliving your savings, no matter how long you live. A structured settlement can include one or more customized payment streams and types.

Qualified Settlement Funds

  • What is a Qualified Settlement Fund?
    Qualified Settlement Funds | What You Need to Know
  • Firmwide Qualified Settlement Funds Debunked
    Firmwide qualified settlement funds have been heavily promoted to trial lawyers, but have been debunked in a detailed analysis in a July 2022 legal opinion a tax partner at the law firm of Faegre Drinker Biddle & Reath, LLP. Trial lawyers and firms who have established Firmwide QSFs or coinsidering establishing a Firmwide QSF should read the analysis as part of their evaluation.

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