Court Scraping/Court Scrapers Feed

July 12, 2007

Factoring Company Court "Scrapers" Should be Banned

by Structured Settlement Watchdog®

In a developing story worthy of a thorough investigation, the word is that at least one factoring company is  "hanging out at the courthouse" for Court records of people who have entered into structured settlements. Like some sort of third world bazaar, with runaway clucking chickens , some are apparently using the information to make last minute offers to claimants who have hearings coming up to approve their transfers. Does this behavior represent "ingenuity" that should be admired, or does it conjure up an image of a "hooker in the doorway.

If the life insurers issuing the annuities are bound to protect the confidentiality of annuitants' financial information due to Gramm Leach Bliley perhaps, could this be a desperation move by the factoring company? Those who bring any industry to disrepute need to be dragged out of the doorways and placed in the bright lights. STAY TUNED!

The National Association of Settlement Purchasers (NASP) leadership ought to beware of this "court scraping "phenomenon', because I doubt is it beneficial to be associated with this practice.

This author welcomes any reader information or knowledge of this practice for further discussion.

Posted at 03:57 PM in Court Scraping/Court Scrapers, Factoring Company Bad Business Practices, Structured Settlement Factoring, Structured Settlement Transfers, Structured Settlement Watchdog®, The "Shriek" of the Week | | Comments (0)

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  • History of Structured Settlements
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  • Firmwide Qualified Settlement Funds Debunked
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