by Structured Settlement Watchdog
Skip the "sham hock" on the menu of HighSpeedPayouts(dot)com, a website whose domain was only anonymously registered just over a week ago and targeting
minorities with structured settlements. Pardon the pun, but to hock is to pawn as in pawn shop.
HighSpeedPayouts.com makes a devious and deceptive sales pitch to sell your structured settlement at its figurative pawn shop, for the purpose of "Taking Dream Vacations and Exotic Travel", which is probably one of the all time dumbest things anyone can do with their structured settlement. It says a lot of these cash now pushers to place "dumb" at the top of the list for HighSpeedPayout.com Why give up or reduce your guaranteed income stream to pay for a vacation that you can't afford? Not just a trip to Disney World, but an exotic locale, like Bora Bora, Bali, the Maldives, a safari or Mt Kilimanjaro, Bariloche, or schussing down the North Face of The Eiger. The winner is the structured settlement buyer whose pennies earn them your dollars, no matter who that is. Why not just save income from your job, if employed, or your structured settlement "job", like everyone else?
When you sell structured settlement payments, the most any company can give you is pennies on the dollar. It's a money loser every single time, without exception. It's a sucker play that could see you fall off your own fiscal cliff, which is another way of saying you are S.O.L.
HighSpeedPayouts also refers to "Court Awarded structured settlements". Courts do not award structured settlements. The Court's role in the establishment of a structured settlement is to approve the settlement. A settlement is not an award and an award is not a settlement.
- Taking Dream Vacations and Exotic Travel (One and Dumb on the HighSpeedPayouts' list)
- Educational and Re-training Expenses
- Attractive New Investment Opportunities ( Beware factoring companies with investment ideas, bearing illusory non-guaranteed returns' and high risk, that start with you getting pennies on the dollar. For example, see my July 24, 2016 post Was Client First Settlement Funding Show Of 8% Investment Projection to Structured Settlement Annuitant A Permissible Inducement? and my April 4, 2018 post State Attorney General Alert on Structured Settlement Factoring | Is This Part of Your Investigation?)
- Purchasing a New Dream Home (Make sure that you do the math. Remember selling means that you start out with a pennies on the dollar loss. Buying is one thing, maintenance and carrying costs is another. Unlike the United States government you can't print money)
- Estate Planning and Distributions
- Starting a New Business Venture
- Settling Legal Matters / Divorce ( Structures can be split in the event of a divorce. Why split pennies on the dollar?)
- Financial Planning / Paying Off Debt
- Paying Unforeseen Medical Expenses
- Covering Expenses Due to Job Loss