Advance Funding/Northeastern Capital Feed

January 31, 2010

Northeastearn Capital Funding's Amusing Financial Literacy Lesson

by Structured Settlement Watchdog ®

New York cash now pusher Northeastern Capital Funding's  website provides fodder for this week's financial literacy lesson. I've analyzed what Northeastern Capital Funding says to the public at the time of the original posting* and followed with my comments on the inaccuracies, some of which may amuse you. 

Straight from the Empire State Building...

A. Northeastern Capital Funding "Many States have recognized the need for lump sum payoffs, and have provided for them in their by-laws"

Comments

  • A bylaw is a law or rule governing the internal affairs of an organization. 
  • A state is not an organization.
  • The New York structured settlement protection act does not refer to the internal affairs of the state
  • The structured settlement protection act in New York is part of the General Obligations Law. That is not a by law.

B. Northeastern Capital Funding "From it's conception in 1997, Northeastern Capital has only handled lump sum payoffs"

Comments

  • Conception is the formation of a viable zygote by the union of the male sperm and female ovum; i.e. fertilization.
  • Is Northeastern Capital Funding implying that it was a fetus conceived in a fallopian tube? If so, let's see the birth certificate!
  • Again that word "payoff"

Doctor_spank_newborn_md_clr Northeastern Capital Funding circa late 1997?

3. "Northeastern Capital processed our first lump sum payoff in 1997. Since then, we have gone on to assist many other clients in obtaining lump sum payoffs for their lottery, trust, settlement and annuity payoffs"

Comment

These guys are giving payoffs, on payoffs?

FINANCIAL LITERACY, GET IT!

*and when we last checked on August 11, 2015

 

 

Posted at 11:35 PM in Advance Funding/Northeastern Capital, Bronx New York Structured Settlements, Brooklyn New York Structured Settlements, Cash Now Pushers as "Financial Advisers", Cash Now Pushers | The "Cash Now Fix", Dan Cevallos Companies, Financial Literacy, Misinformation about Structured Settlement Factoring, New York City Structured Settlements, New York Structured Settlements, Northeast Settlement Funding, Settlement Advertising Wall of Shame, Structured Settlement Watchdog® | | Comments (0)

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Guide to Structured Settlements 2024

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    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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  • 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.
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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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