by Structured Settlement Watchdog
Is business that tough for a certain structured settlement factoring companies that they must solicit a New York man with a Traumatic Brain Injury for a pennies on the dollar " bounty", on his sole source of income? The man has contacted me. He does not need to sell and does not want to sell.
If you are one of the factoring companies currently soliciting the New York man (whose last name sounds like the last name of someone famous) with TBI who has an AIG/ American General structured settlement paying him bi-weekly payments for life, please stop doing so. Move on. It's a New York workers compensation structured settlement and it represents the New York man's sole source of income, so one way or another it will not get approved.
Unfortunately a huge gap in regulation fails to protect how structured settlement consumers and structured settlement investors can be solicited. What regulation there is, is not consistently effective enough and weaknesses are exploited to the detriment of American consumers. New York has a Structured Settlement Protection Act (SSPA) which is generally quite effective. However this has not stopped unscrupulous companies and individuals employed by or or contracted by structured settlement factoring companies in Maryland, Florida, Delaware and elsewhere to do the devil's work. Structured settlement factoring company predators have been know to take New Yorker's and fabricate a purported residency in another state to complete a terrible financial deal that induces certain structured settlement annuitants to commit fraud on the courts in the states of purported residency.
Read more about my pro bono work as Structured Settlement Watchdog