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December 10, 2024

SuttonPark Servicing Payment Delays Update December 9, 2024

by Structured Settlement Watchdog

I received a phone call and had a conversation with another American General structured Time is money suttonpark payment servicing settlement annuitant from California on the evening of December 9, 2024. The structured settlement was established as compensation for the wrongful death of a loved one. Some time ago the annuitant sold a portion of the structured settlement payment stream and the servicing company ended up being SuttonPark.  The SuttonPark November payment was due on November 14, 2024 by direct deposit, but the November payment has not been paid at time of the phone call. The December payment is due on December 14th.

The Annuity Issuer Was Proactive

Despite her November payment being overdue by more than three weeks, the annuitant from California observed that American General has taken proactive steps upon being contacted regarding the delays in payment servicing by SuttonPark. The insurance company contacted their attorney, who in turn reached out to SuttonPark to urge the acceleration of the process.

To summarize, there is no question that the annuity issuer makes the structured settlement payments as scheduled. However, the delay by the payment servicer thereafter becomes a source of distress for those who rely on these payments.

Annuitants who have endured personal and/or physical losses depend on the timely receipt of their payments.

All annuity issuers are encouraged to be proactive when fielding calls from annuitants even if there is a payment servicing agreement with SuttonPark.

For nearly 30 days, John Darer, in his pro bono capacity the Structured Settlement Watchdog has been fielding phone calls from victims of the SuttonPark payment servicing nightmare and attempting to fill the staggering information void through conversation,blogging and making calls within the industry to raise awareness. During the three days prior to Thanksgiving John Darer devoted 12 pro bono hours of time to listen and to make people aware of the plight of these people through blogging and phone calls. All totaled, John Darer has devoted around 18 pro bono hours of time.

 

Posted at 12:13 AM in Structured Settlement Watchdog®, SuttonPark Payment Delays |

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Guide to Structured Settlements 2025

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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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  • Structured Settlement Payments | Types of Structured Settlements 2025
    In 2025, you can structure your settlement payments in various ways. A structured settlement allows for multiple payment types within one agreement. You can tailor and merge different structured settlement payments to suit your individual needs, either alone or alongside other financial instruments. If desired, diversify your structured settlement by utilizing multiple annuity issuers, treasury-funded structured settlements, index-linked structured settlement payments, and market-based structured options.
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    Structured attorney fees offer a financial strategy that provides a unique method for deferring taxes for attorneys and their firms. Attorneys can structure or defer their legal fees independently of whether the plaintiff structures their settlement. There are various ways to structure attorney fees, including capped or uncapped index-linked structured settlement annuities with payments adjusted according to the S&P 500 or another index's positive changes. Trial lawyers might also opt for a special deferred payment/compensation arrangement if they seek market-based returns without a cap. As the year-end approaches, consider adding structured attorney fee specialist John Darer® to your settlement planning team for 2025.
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  • What Are Structured Settlement Annuities?
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  • History of Structured Settlements
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  • What Are Market Based Structured Settlements?
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Qualified Settlement Funds

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  • Firmwide Qualified Settlement Funds Debunked
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