by Structured Settlement Watchdog
Nipping the Bastardization of the term "Structured Settlement(s)" in the Bud
The Debtors' Rights Law Firm Guardian Litigation Group, a debtor's rights litigation law firm with offices in Irvine California, Washington DC, Dallas, TX and Jacksonville, FL, includes the term " Structured Settlement Debt Collector" and attempts to define it in the FAQ section of its website as follows (as of January 26, 2025):
"What is a structured settlement debt collector?
A structured settlement debt collector is an individual or company that purchases debts linked to structured settlements and seeks repayment from the debtor. Their goal is to recover the owed amount, often for a profit".
It's "JAFBOSS" (Just Another Frickin' Bastardization of Structured Settlements")
On its website Guardian Litigation Group also states...
"If you are facing a lawsuit from a debt collector, then you likely have questions about what to do"
How is Structured Settlement Defined under Nevada Law?
NRS 42.275 “Structured settlement” defined. “Structured settlement” means an arrangement for periodic payment of damages for personal injuries or sickness established by settlement or judgment in resolution of a tort claim.
How is Structured Settlement Defined under California Law?
The California Structured Settlement Protection Statute 10134
(j) “Structured settlement agreement” means an arrangement for periodic payment of damages established by settlement or judgment in resolution of a tort claim in which the payment of the judgment or award is paid in whole, or in part, in periodic tax-free payments rather than a lump-sum payment. A structured settlement agreement entered into pursuant to Section 667.7 of the Code of Civil Procedure or Section 970.6 or 984 of the Government Code is not subject to the provisions of this article other than the requirements of Section 10138"
How is Structured Settlement Defined under Florida Law?
Florida 2024 Statutes 626.99296
5(m) “Structured settlement” means an arrangement for periodic payment of damages for personal injuries established by settlement or judgment in resolution of a tort claim.
How is Structured Settelment Defined under Texas Law?
Sec. 141.002(13) "Structured settlement" means an arrangement for periodic payment of damages for personal injuries or sickness established by settlement or judgment in resolution of a tort claim or for periodic payments in settlement of a workers' compensation claim.
How is a Structured Settlement Defined under Federal Law?
IRC Section 5891(c)(1) defines the term “structured settlement” to mean an arrangement—(A) which is established by (i) suit or agreement for the periodic payment of damages excludable from the gross income of the recipient under § 104(a)(2), or (ii) agreement for the periodic payment of compensation under any workers' compensation law excludable from the gross income of the recipient under section 104(a)(1); and (B) under which the periodic payments are (i) of a character described in § 130(c)(2)(A) and(B); and (ii) payable by a person who is a party to the suit or agreement or to the workers' compensation claim or by a person who has assumed the liability for such periodic payments under a qualified assignment in accordance with § 130.
An important part of my mission as Structured Settlement Watchdog is to search out and review anything published about structured settlements, pull the weeds as needed in my opinion and help make things clearer for consumers and other stakeholders. See The Structured Settlement Watchdog® John Darer®
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