Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews

Years of Experience Stacking | Absurd Is The Word | Structured Settlement Edition

by Structured Settlement Watchdog

One structured settlement industry website claims "over 60 years of experience".

That would  at minimum, take them back to the year 1964, when Martha Reeves and the Vandellas were "Dancing in the Street", when the Fab Four sang lustily about wanting to "hold your hand" and of special interest to a watchdog, Underdog began fighting "Simon Bar Sinister". You know, or perhaps your Mom or Dad (or grandparents) know "Speed Of Lightning, Roar Of Thunder. Fighting All who Rob Or Plunder". 

What is Years of Experience Stacking?

While taking an average years of experience would be more reasonable, years of experience stackers exaggerate by advertising a sum total but not making it clear it's a sum total.  It's silly season when you go back the number of years they advertise and cross reference dates with actual facts about structured settlements.

"Absurd is The Word"

If one were to assume, arguendo, the illegitmate practice of years of experience stacking was legitimate (it isn't), the largest structured settlement firm in the United States (which I emphasize DOES NOT stack years of experience), with 250 brokers and let's assume an average of 20 years experience, could advertise it had 5,000 years of experience, tracing its roots smack dab in the Stone Age and the Invention of Writing, in stacking "fantasy world".  The Stone Age ended between 4,000 BC and 2,000 BC. While the firm with 60 stacked years of experience could conceivably raise the "modern Stone Age Family" in retort, the 1960's group The Trashmen drew a line in the sand with "the B side version" to their #4 in January 1964 "surfing avian" tribute,  "Absurd is The Word". But then "everybody's heard about the word".

"The Incredible 'Ulp' "

The great Roman jurist "Luigi Ferrigno" Ulpian (170-228 AD) is credited with being one of the first dealers of annuity contracts in history. Not only that, he was reputed to have created one of the first actuarial life tables.

Early Development of the United States Court System (thoughtco.com)

Article Three of the US Constitution stated:

"[t]he judicial Power of the United States, shall be vested in one supreme Court, and in such inferior Courts as the Congress may from time to time ordain and establish."

Thalidomide to The Bo Diddley Beat

In the late 1950s and early 1960s, the use of Thalidomide in 46 countries by women who were pregnant or who subsequently became pregnant resulted in the "biggest anthropogenic medical disaster ever," with more than 10,000 children born with a range of severe deformities, , as well as thousands of miscarriages.  Some of those were purportedly settled with annuities.

"Over 60 years of experience" would put you at the epicenter of the Bo Diddley beat" and the anti-year of experience stacker song "You Can't Judge a Book by It's Cover"

The Periodic Payment Settlement Act of 1982 was signed into law by "The Gipper" in January 1983, 41+ years ago

Time for breakfast

 

 

Word Salad Mania | Legacy-Funding Bangs on California Man's 1990 Structured Settlement in 2024

by Structured Settlement Watchdog

Who is Interstitial Man?

"Interstitial Man" is a new moniker for people that work as sales reps, or underwriters of structured settlement factoring companies cloaked as reps, who flit and float in and around the structured settlement factoring "interstitial" spaces with a sales pitch of word salads with homemade "everything croutons" on top. 

Last week one such "Interstitial Man" named Aaron Davis, a  Senior Underwriter at Legacy Capital, contacted a California structured settlement annuitant with a gaffe ridden miche mache, to be highlighted for educational purposes, the good of humanity and the titillation of connoisseurs of "Salade de mots" everywhere. 

The "Spurious Case of Gwendolyn Glutton" Word Salad

Writes the Florida based Legacy Capital (Legacy-Funding.com) Senior Undewriter/Rep soliciting a California structured settlement annuitant...

"We show policy holders how they can "rewind time" and bring things back to when this settled. Giving you the option to choose between any products on the market to create a plan that can outpace your current policy by attaching a much more competitive interest rate". 

My Thoughts

1. Structured settlement annuitants are not policyholders.  See "Faint Glimmer of Hope Extinguished Word Salad" below.
2. "Turn back time"?..."Bringing things back to when your case settled"?  If you are receiving structured settlement established in 1990 with your parents or grandmother, the latter of whom has been deceased since 2004, are they saying they are going to bring her back. Are they going to bring the insurance company claims people, who have retired, back to work, if still living? 
3. is Legacy Funding somehow going to bring back the interest rates of 1990? Perhaps they're going to resurrect recently departed Irish crooner Sinead O'Connor, whose 1990 #1 song of the year could be paraphrased as Nothing Compares 2 U(r) 1990 Rates, while the #5 song by MC Hammer piles it on with "U Can't Touch This (1990 rates) in 2024. Especially so if those 2024 rates are taxable, because you sold your payment rights for pennies on the dollar and invested the proceeds in a taxable investment.

The Waldorf Word Salad

With no proof, the structured settlement factoring company representative's attempted hustle of the structured settlement annuitant is a figurative bowl of muddled sliced and diced fruit and homemade mayo. Check out this excerpt of Aaron's email:

"How much do insurance companies make on your money? Insurance companies make extremely lucrative returns on policyholders' money, simply because they have agreed to only pay a small amount of interest to the policy holder. 

· Insurance companies make the market average if not more, which can exceed 10-12% . 

· You annuity is only paying you a return of around 3%

· Following this math, your insurance company can be keeping 2x-4x more what you are receiving per month and per year". 

Let's toss the fruit and the mayo! It's "Hammer Time"!

My thoughts:

Not familiar with song?

1. Structured settlement payees are not policyholders.  Please see "Faint Glimmer of Hope Word Salad" below
2. The Daikon radish Intertitial Man tries to pull for garnish, reveals a bit too much "Pecor-no-see-no" understanding of how insurers make money. 
3. If you are receiving payments from a long term fixed rate structured settlement annuity that was funded more than 30 years ago, Absent a COLA (and I'm not talking Pepsi or Coke here folks), I think you will find the monthly payment is still the same. 
4. What happens when you get a fixed rate mortgage? If you took out a 15 year fixed rate mortgage at 3.75% in November 2010 (as I did), the payments are still the same in 2024, even though an adjustable mortgage, or a new mortgage at the prevailing rates rate would bring higher in 2024. 
5. If you have a long term structured settlement that was issued in 1990, the internal rate of return of the structured settlement on the funding amount would have been locked-in somewhere north of 8.5%, income tax-free if payments represented damages on account of personal physical injury or physical sickness or otherwise satisfied IRC 104(a)(2).  What is the taxable equivalent value of 8.5% income tax free? Better than 10-12% taxable depending on your tax bracket that the Waldorf Word Salad being served up. See  Tax Advantages of Structured Settlements | Taxable Equivalent Yield Chart (4structures.com)
6. A "return of around 3%" is an uninformed and deceptful approach by the Florida structured settlement factoring company representative. 

The following references may also be helpful to readers for point #5:

US Treasuries Historical Interest Rates (ustreasuryyieldcurve.com)

Use to get an idea of where interest rates were at a point in time. Bear in mind that annuity issuers may hold difefrent types of bonds in their portfolio such as corporates which may yield more than Treasuries.

Historical mortgage rate trends | CNN Underscored Money

"A Faint Glimmer of Hope Extinguished" Word Salad

"One important thing to take from this is that you are NOT the owner of this policy. There was a law put in place many years ago by Congress to protect you from the insurance company that made themselves the owner of your settlement.It is called the Structured Settlement Protection Act. I would like to go over this law with you as well. "

My thoughts

1. "Aaron", the Intertitial Man and sender of the email from legacy-funding.com, was just talking at the outset about what "rewinding time" for "policyholders". Seems like there are some signals crossed.
2. What is a policyholder under Florida law? According to the Klotzman Law Firm in Hollywood Florida 

Definition: A policyholder, in Florida, is an entity or individual who purchases and owns an insurance policy issued by an insurance company. The policyholder is the primary party involved in the insurance contract and is entitled to the benefits and coverage specified in the policy.

Ownership: The policyholder is the legal owner of the insurance policy and holds the right to make claims for benefits and exercise other rights and responsibilities outlined in the policy. See Policyholder (klotzmanlawfirm.com)

        3.  Aaron clearly lacks understanding of how a structured settlement is established, basic contract law  (offer, acceptance, consideration), or sentence construction for that matter. Case in point "There was a law put in place many years ago by Congress to protect you from the insurance company that made themselves the owner of your settlement". Funny that there is one (or more) insurers that fund a settlement. Where there is a structured settlement, the annuity issuer is a life insurer. 

Doesn't the United States have a bicameral Legislative Branch? Aaron's old enough to have seen Schoolhouse Rock's "How does a Bill become law?"

What about the 50 States and the District of Columbia's Structured Settlement Protection laws? See Structured Settlement Protection Acts (4structures.com)

     4. Aaron's approach demonstrated a lack of understanding of what the Structured Settlement Protection Act is and its origins. But didn't he state that he had 15 years experience to the target of his solicitation. Go figure.  The operative point is who is "target of his solicitation". The Structured Settlement Protection Acts are primarily to protect individuals who are receiving structured settlement payments as compensation for damages on account of  physical injury or physical sickness, wrongful death or workers compensation from snake oil.

Examples of Who the Structured Settlement Protection Acts are Designed to Protect

Judge in Niagara Foils Structured Settlement Factoring, Cites Bob Dylan Rejects of Boca Broker - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com)

Was Client First Settlement Funding Show Of 8% Investment Projection to Structured Settlement Annuitant A Permissble Inducement? - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com)

Black Square Financial Bogus Claims That You Can "Take Control Of" and "Structure Your Policy" - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com)     

The "Fuzzy Math" Word Salad

"One thing to note is that the longer the insurance company holds the lump sum, the more they will make over time. They will make over 20 million in 40 years while you only receive 1.5 million or less. That is not fair to you because you are the one who this money belonged to when the case was settled in court" -Aaron Davis Legcacy Capital (Legacy-Funding.Com) actually sent an email solicitation with this excerpt in it.

Let's see the back up Aaron!

Legacy-Funding.com is the website of Legacy Capital

Exhibit A

 

How is it someone in business in an industry "for over 15 years" can have such a tough time of explaining facts accurately and succinctly?  

 

"From: Aaron Davis <ADavis@legacy-funding(dot)com>
Date: Fri, Jan 26, 2024, 10:12 AM
Subject:          / Annuity Information
To: @gmail(dot)com>

 

_____ It was a pleasure speaking with you this morning. I've been in this industry for over 15 years. The purpose of reaching out is to unveil/uncover information about structured settlements, annuities and new available options with your annuity that you may not be aware of. Before we get into the consideration of making any changes it would be in your best interest to equip yourself with information. Afterall information and knowledge is power. I'm sure you will agree.

 

____________________________________________________

 

SIDE BAR

 

Exhibition Histories | Afterall

 

After all, means "despite all expectation to the contrary"

 

So, is what Interstitial Man trying to say "despite all expectations that information and knowledge isn't power, knowledge is power?

 

____________________________________________________

 

I know this email is long, however I want you to see the whole picture and at least understand how the annuity investment works. We can dive in a little more specifically to your situation when we speak on Monday. 

 We are not in the business of taking anything away from you** but more to provide clarification on the type of investment you were put in when your case was settled. We look at these policies from an investment lens and not how you may view it- we only say this because there are a lot of things that most people don't know about their annuity".

** except only pay you pennies on the dollar  (sniffles)

Wonder why I would take the time to give a rat's a$$?

The Structured Settlement Watchdog® John Darer®

 

 

 

 

 

 

 

 

 

 

 

 

 

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JG Wentworth is Subject of Money Maker Mag's Loud AI Driven Explosive Word Fart

by Structured Settlement Watchdog

This is a Meme. Not a JG Wentworth ad

JG Wentworth "Babble-on"

Metaphorically speaking, Money Maker Magazine's work about JG Wentworth is about as over the top as the opening scene of the 2022 movie "Babylon" which showcases the challenge of transporting the proverbial "elephant in the room" to a house up a hill using a rickety 1920s era truck, with "explosive" results. See Babylon’s wild elephant poop scene took an ungodly amount of work - Polygon.

Here instead of pachyderm, the subject is JGWentworth, the structured settlement secondary market's figurative 800 lb Gorilla  that falls well short of reality. Money Maker Magazine demonstrates that it's a puffery dispensary on this showing. Money Marker Magazine's astounding lack of attention to detail makes JG Wentworth look ridiculous for anyone that knows.

A. "The Journey of JG Wentworth: Pioneering Structured Settlement Solutions"

CLAIM

"For decades, they’ve carved out a name as a steadfast ally for folks navigating the complexities of financial windfalls. Here’s the scoop on how they became the go-to experts

• JG Wentworth started off with a bang, cutting through the financial jargon to offer clear-cut solutions.
• They’ve been riding the wave of success, constantly evolving their services to meet the changing needs of their clients in structured settlements.

FLAWS:

1. Argle-Bargle. JG Wentworth does not provide financial advice by its own admission. See below. That has not stopped JG Wentworth from being promoted as "Structured Settlement Brokers" using Google Adwords.
2. Cash, cash and more cash is not a steadfast ally for folks navigating the complexities of financial windfalls. And oh yeah (in case you missed #1), JG Wentworth, by its own admission (in the legal declaimers on its website-see below) states it does not provide financial advice.
3. Cash, cash and more cash, varying in the degree of "pennies on the dollar", are three solutions that do not require a sophisticated GPS.
4. To the extent that JG Wentworth has the lowest cost of money at a particular point in time, if a customer shops around and comes back to JG Wentworth they will usually get a more competitive deal than its first quote.
5. I suppose two bankruptcies while surfing the "wave of success" is really "shooting the curl" puff daddy.

B. "JG Wentworth’s Approach to Structured Settlements"

• JG Wentworth steps up to the plate, offering up their signature blend of customer care and savvy financial advice.

FLAWS: 

1. Are we speaking about a baseball game, a salad dressing, coffee beans, a Bordeaux blend (I was just there in August), or perhaps a Chianti or Amarone? Maybe just a spirulina smoothie.
2. Oh yeah, JG Wentworth does not provide legal, financial or tax advice by its own admission. See for yourself!

Image retrieved for critical commentary 11-25-2023. No Copyright claimed. 

C. "How JG Wentworth Has Shaped the Structured Settlement Industry"

"Before JG Wentworth stepped into the spotlight, the structured settlement industry was like a wild frontier. Now, let’s journey through their industry-changing influence:

• It’s like comparing apples and oranges when you look at industry standards pre and post-JG Wentworth’s era.
• Crack open the case studies, and you’ll find the undeniable mark they’ve left behind".

FLAWS: 

1. Given that they’ve "been around since the peachy days of 1991", JG Wentworth could not have played  a role (and did not play a role)  in Private Letter Rulings, the Periodic Payment Settlement Act of 1982, the establishment of IRC 104(a)(1), IRC 104(a)(2), IRC 130. 
2. The insinuation that J.G. Wentworth has anything to do with the primary structured settlement market, its origins or market place standards, is just an elephant sized serving of poo poo stew.
3. Ironically Peachtree Settlement Funding, has been a member of the JG Wenwtorth family since July 12, 2011. But Peachtree was not established until 1996. An example of industry standards in the JG Wenwtorth era Illinois Supreme Court Tosses Brenston "Turkey" at Peachtree - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com)
4. Arguably the efforts of JG Wentworth and similar companies included directly or through proxies, attempts to adopt and usurp primary market terms and served at times to confuse consumers and judges. 
5. There is little regulation of the structured settlement secondary market, especially its participants. Just a few states require registration of transferees and then in response to some national or regional news story in the mainstream press  [see, for example, Minnesota, South Carolina, Louisiana, Maryland, Florida, Virginia]

D. JG Wentworth and Strategic Financial Planning

"Let’s not beat around the bush; integrating structured settlements into your financial plan is a brilliant move.

• JG Wentworth’s foresight has helped many turn structured settlements into a cornerstone of their financial future.
• Testimonials overflow with praise, hailing JG Wentworth’s masterstroke advice and services. Like a Dior Lip oil at a TS concert".

FLAWS: 

1. How about not bullcrapping consumers? J.G.Wentworth is not a licensed financial advisor or insurance agent by its own admission and cannot offer financial advice  [ AI driven BS impeached by irrefutable statement on the JG Wentworth website as you can see above discovered by Google search]
2. JG Wentworth does not place structured settlement annuities
3. Great analogy. Dior Lip oil and the dubious JG Wentworth promotion on display.  Both are used to plump it up.

E. Breaking Down JG Wentworth’s Structured Settlement Process

"Wading through the process of obtaining a structured settlement can feel like navigating a labyrinth. But fear not, here’s the lowdown with JG Wentworth:

• Step one, two, and beyond – JG Wentworth’s process unraveled.
• A picture says a thousand words, and the visual aids here speak volumes".

FLAW: 

1. J.G. Wentworth by its own admission, is not licensed and does not provide financial advice.  J.G. Wentworth has no role in "obtaining a structured settlement". 
2. Couldnt agree more on a picture saying a thousand words, as you can see the above excerpt of a clear legal disclosure from J.G. Wentworth's website which renders the Money Maker Magazine puff piece useless in less than a few words. Why waste resources when you can do it with a lower carbon footprint eh?
3. We clearly demonstrate the virtue of concise and informative vs.blah, blah, blah!

F. Analyzing JG Wentworth’s Structured Settlement Success Stories

"Nothing speaks louder than success, and JG Wentworth‘s track record is chock-full of them: 

• It’s like thumbing through a rapper Drake photo album, they say, each customer profile tells a story of financial transformation.
• Satisfaction and financial health metrics post-JG Wentworth’s touch are off the charts".

FLAW: Success means two bankruptcies, the first in May 2009. On November 8, 2017, J.G. Wentworth filed for Chapter 11 bankruptcy for the second time in nine years. JGWE stock plummeted as much as eighty-seven percent on November 10, 2017. JGWE literally was OFF the charts! But the 800 lb gorilla is resilient.

What is JGW Connects?  (NEW DEVELOPMENT)

JG Wentworth is now using its well recognized brand to advertise other products and services through JGW Connects.

However, according to the JG Wentworth website, JGW Connects does not provide ANY of the products or services advertised and does not make any decisions regarding your eligibility for those products or services. All decisions regarding approval or denial of a particular product or service are the responsibility of the participating company and will vary based upon your particular financial situation, and criteria determined by the company to whom you are matched. Not all consumers will qualify for the advertised rates and terms.

Any information provided on this site is for educational purposes only. JGW Connects, LLC is not an agent of you or any third party advertiser on this website. You should rely on your own judgement in deciding which available product, terms and provider that best suits your personal financial requirements. We (JGW)  do not offer financial advice, advisory or brokerage services. We recommend that you consult with your own independent advisors regarding these products and services.

Last updated November 26, 2023

Coral Springs Co. Wholly Misleading Statement Re "Purchase of Structured Settlement Annuities"

by Structured Settlement Watchdog

Coral Springs Company Makes False Wholly Misleading Statement Re "Purchase of Structured Settlement Annuities"

According to MJ Structured Settlement Annuities' (MJSSA) definition, "a Structured Settlement Annuity (SSA) is an annuity from an insurance company paid over a period of years as a result of a legal settlement for financial restitution". For example, MJSSA says, "the victim of a motor vehicle accident may be awarded an SSA where the guilty party will fund an annuity to pay out to the victim over time"

MJSSA Fails to Comprehend Basic Difference Between Civil and Criminal Lawsuits

Setting aside MJSSA's showing a lack of understanding of the difference between a civil suit (where at the conclusion of trial a civil Defendant may be found liable (as opposed to a criminal trial where a Deendant could be found guilty)**, MJSSA makes a false and wholly misleading marketing claim by holding out  the purchase of factored structured settlement receivables as a purchase of a structured settlement annuity (or structured settlement annuities).  

"MJSSA offers investors the opportunity to purchase Structured Settlement Annuities that deliver a guaranteed, fixed income stream over a defined period of time. These are individual, one-time-only secondary market annuities available for a limited time". See the screenshot immediately below.

Screenshot for critical commentary, retrieved from MJSSA website 9-14-2023

It is well settled that factored structured settlement payment rights are not annuities 

1. Factoring is a sale of receivables. For example, see  A. DRB Capital -- Structured Settlement Receivables Successfully Acquired | News & Insights | Arnall Golden Gregory LLP (agg.com) "DRB Capital, LLC, is a Florida-based specialty finance company that buys and sells structured settlement receivables, such as annuity payments and court-ordered payments"  and "As a result of the deal, DRB, which has over $1 billion in committed capital and employs more than 150 people, was able to add a substantial inventory of structured settlement receivables to its balance sheet". B. Genex Capital Corporation Issues "Recall Notices" on Certain Pre-2015 Genex Capital Receivables - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com);

2. The National Association of Insurance Commissioners (NAIC), in its Statutory Issue Paper No. 160, which was finalized April 6, 2019,  made it clear that acquired structured settlement payment rights are not annuities or insurance products. See NAIC Statutory Issue Paper No. 160 p6 Section 6, footnote which states clearly  " This guidance is specific to acquired structured settlement income streams (legal right to receive future payments from a structured settlement) and does not capture accounting and reporting guidance for the acquisition of any insurance product (e.g., life settlement, annuities, etc." ]

3. In the event of insolvency of the underlying annuity issuer, investors in acquired structured settlement payment rights are screwed in 80% of the US states, have adopted the 2017 Revisions to the Life & Health Guaranty Associations Model Act (#520), which expressly excludes acquired structured settlement payment rights from insolvency schemes. The application of the exclusion expressly applies to acquired structured settlement payment rights that were acquired prior to the effective date that the investor's state adopts the 2017 Revisions to the Model Act. 

4. Section 5891 of the United States Internal Revenue Code of 1986, as amended states that "The term “structured settlement factoring transaction” means a transfer of structured settlement payment rights (including portions of structured settlement payments) made for consideration by means of sale, assignment, pledge, or other form of encumbrance or alienation for consideration".

5. Structured Settlement factored receivables do not meet the definition of annuity under the laws of the State of New York. For example: "An annuity is a contract between a purchaser and an insurance company in which the purchaser agrees to make a lump sum payment or series of payments in return for regular disbursements, beginning either immediately (within 12 months) or at some future date"  Source: New York Department of Financial Services. 
6. Structured Settlement factored receivables do not meet the definition of annuity under the laws of the State of Georgia.  For example "An annuity is a contract you enter into with an insurance company to provide a guaranteed income in exchange for a payment or series of payments"  Source: Annuity | Georgia Office of Insurance and Safety Fire Commissioner
7. Ask MJSSA if any of their current structured settlement receivables offerings (falsely held out as annuities) are covered by your state's life & health guaranty association?  Here is where the MJ Structured Settlement Annuities has been a bit naughty and says that they are (not even a "maybe"). See number 3 from the screenshot of September 14, 2023 10:11 below.
8. 

   Wow, no no, just WOW!  Check out #3 | This is an excerpt retrieved 9-14-2023

Factored Structured Settlement Receivables Are An Unregulated Non-Insurance Product Sold, and Continuing to be Sold by Certain Salespeople and Companies under the Wholly Misleading "Secondary Market Annuities" 

Factored structured settlement receivables have been marketed to investors, including seniors in Florida, injury victims, trial lawyers and fiduciaries as "structured settlement annuities",  "secondary market annuities", even by people they trust that hold insurance licenses. There is little regulation of the the sales practices of structured settlement factoring companies and these receivables being deceptfully marketed as "annuities" or  "secondary market annuities" to investors by the secondary or tertiary markets. With what is known, the lack of regulation is just reckless at this point and has been for more than a decade.

Here MJ Structured Settlement Annuities is holding out a list of stuctured settlement factoring receivables for sale as if they are annuities and advertising them as offerings to investors. See  Available Offerings - MJ Structured Settlement Annuities (mjsettlements.com)

And the operative question is why? Where are Regulators Protecting Consumers and Investors?

Helpful References for Consumers

1. Under Florida law  Chapter 626 Section 99296 - 2023 Florida Statutes - The Florida Senate (flsenate.gov)  titled  Transfers of structured settlement payment rights. As opposed to sale or transfer of a structured settlement annuity contract.
2. annuities-guide.pdf (myfloridacfo.com)
3. Structured Settlements | What Is a Structured Settlement? (4structures.com)
4. What Are Structured Settlement Annuities? Structured Settlements FAQ (4structures.com)

____________________________________________________________________________

**SIDE BAR 

Broward County Confusion? Who led which horse to water?

"Let’s start with the basics. A structured settlement is an agreement reached during a lawsuit, where the guilty party agrees to pay the victim a specified amount of money in periodic payments".   -123Lump Sum website 123 Lump Sum in Quandry Over Whether Civil Defendants Are Guilty (or Liable)? - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews (typepad.com) August 24, 2022

_______________________________________________________________________________ 

MJ Structured Settlement Annuities appears to also use the name EZStructuredsettlementannuties, based on what was found on its website at time of original posting.

Last updated October 20, 2023

Silver Dollar Financial's Vacuous Explanation of Structured Settlements After Death

by Structured Settlement Watchdog

According to the vacuous explanation of Atlanta Georgia's Silver Dollar Financial, "If you were listed to receive the structured settlement, you can inherit it after the death of the original owner. Structured settlements are inheritable so long as there is a will or other legal provision that allows you to take ownership of it".

Silver Dollar Financial's explanation is just "fupped duck".  Silver Dollar Financial has no demonstrable understanding of the fundamentals based on their poor articulation as John Darer Reviews immediately below.

Six Ways That Silver Dollar Financial is " Fupped Duck" on Structured Settlement Inheritance

1. What is "listed to receive the structured settlement"?  Does Silver Dollar Financial expect you to believe that if Mama left a list on a crinkled foodstained corner of a notepad sheet thumbtacked to a corkboard in the kitchen, it's going to hold any weight with an insurance company?  For example a list lis something like " "1. Eggs, 2. a loaf of bread, 3. Crisco and 4. in case I meet my fate because that banana peel ain't just gonna pick it's freckled self up off the floor, the structured settlement payments go to my 3 sons Barney, Beavis and Tetris" isn't going to work.
2. In order to inherit structured settlement payments you must be named as a beneficiary (or contingent beneficiary)  by the Payee of the structured settlement and the beneficiary recorded with the insurance company, before the decedent passed.
3. These requirements are set at the time of settlement and are agreed to by and between the parties to the negotiated  settlement agreement. Generally that means the designation of beneficiaries must be in writing and in proper form
4. The "original owner of a structured settlement" annuity is a qualified assignment company. See  How Structured Settlements Work | Structured Settlements Explained (4structures.com).
5. The death of a structured settlement payee does not change the ownership of the structured settlement annuity from the qualified assignment company
6. Naming a beneficiary or beneficiaries is better than doing nothing because payments continue after filing a death claim, without having to pass through the Estate of the deceased. If they pass through the Estate account, the Executor or Administrator can charge a fee on that money. In addition fees may be due to state government based on the value of all of the assets in the Estate.

Advocating The Clearest Path to Accurate Structured Settlement Information is Part of My Mission

Part of my stated mission as Structured Settlement Watchdog is to help give consumers the clearest path to accurate information about structured settlements.

Hopefully Silver Dollar Financial founder Wil Foy can up his company's game.  No excuses after 4 years in business. Foy's structured settlement factoring company has been in business since 2019 according to the Better Business Bureau records. It serves nobody to have inaccurate information about structured settlements facing consumers.

Accurate information About Structured Settlement Beneficiaries and Inheriting Structured Settlements for Consumers and Attorneys

How to Name a Beneficiary on a Structured Settlement Annuity (4structures.com)

Structured Settlement Death Claim | What You Need to Know 2024 (4structures.com)

Inherited a Structured Settlement? (4structures.com)

Structured Settlement Beneficiary Designations (4structures.com)

Lady Liberty Used as a Tool in Florida Factoring Company Puffery

by Structured Settlement Watchdog

Anyone who has seen the National Treasure movie series may remember the clue "Laboulaye Lady" in the sequel.

Édouard René Lefèbvre de Laboulaye 18 January 1811 – 25 May 1883) was a French jurist, poet, author and anti-slavery activist. In 1865, he originated the idea of a monument presented by the French people to the United States that resulted in the Statute of Liberty in New York Harbor. He got the idea thinking that this would help strengthen their relationship with the United States

The Statue of Liberty was sculpted by  Frederic Auguste Bartoldi and dedicated on October 28, 1886.

A Florida factoring company on June 1, 2023 posted to Instagram ad featuring a "Pop Art" rendition of Lady Liberty that serves to hoist it on its own petard.

A member of the National Association of Settlement Purchasers (NASP) has made inflated and exaggerated claims, in soliciting structured settlement annuitants and mischaracterizing pennies on the dollar as:

• a "Summertime Jackpot"
• a "Sizzling Lump Sum of Cash"
• to "cash in those payments and make your dreams shine brighter than the summer sun".

Here's the NASP member's quote as it appears on Instagram at time of posting:

"June 1st marks the beginning of sunny days and unlimited possibilities! Let ________Settlement Funding turn your structured settlement into a summertime jackpot! Cash in those payments and make your dreams shine brighter than the summer sun!"  (the image accompanying the Florida company ad includes "sizzling lump sum of cash")

What is a Jackpot?

A jackpot is "a large cash prize in a game or lottery, especially one that accumulates until it is won".

• Selling a structured settlement is not a game.
• Selling a structured settlement is not a lottery.
• You, or someone who loved you, suffered a physical injury loss or died
• Selling your structured settlement is not "won".  

Selling A Structured Settlement? Get The 411 on Cash Now. Don't Be a Victim (4structures.com)

 

Stone Street Capital | Where Pennies on The Dollar Is Seen as a "Reward"

by John Darer Reviews

In a world where "words matter", in my opinion Stone Street Capital is pushing an inconsiderate narrative on structured settlement annuitants.

"Off The Deservation"

Stone Street Capital advertising attempts to hook structured settlement annuitant fish with the worm that implies that Pennies on the Dollar is "What You Deserve"

What Does "Deserve" Mean?

"do something or have or show qualities worthy of (reward or punishment)" -Oxford Languages

You Might "Deserve" a Bubble Bath as a "Reward", But You Don't Need to Get Soaked Financially

When you feel exhausted after a long day at work, or on a homework asssignment in college, you feel tired and you deserve a nice trip to the spa. But when it comes to the steady income stream you're receiving from your structured settlement, you surely don't need to get soaked. A person receiving tax free or tax deferred structured settlement payments suffered a physical or emotional loss and had to survive the trials and tribulations and the emotional roller coaster of claims and litigation. If you are such a person, is a crappy insensitive sales pitch what you deserve?

That's more like it, eh? I made my own "Stone Street" 

 

 

 

Stone Street Deceptful Use of "Settlement Withdrawal" to Describe Structured Settlement Factoring

by Structured Settlement Watchdog

When legislators finally get around to a licensing standard for structured settlement factoring companies,  perhaps Stone Street Capital will become less brazen than using the term " Settlement Withdraw" to describe a pennies on the dollar structured settlement transfer.

"Structured Settlement - Settlement Withdraw" is how the Google paid ad looked at time of publication

1. When you have a bank balance of $20,000 and want to withdaw $3,000 to pay your dentist for that root canal, post and crown, that is not covered by your dental insurance, you get dollar for dollar. You need $3,000 and you withdraw $3,000
2. But when you go to Stone Street Capital you get nothing more than pennies on the dollar, so it's really not a withrawal is it? For the same $3,000 you would have to sell more than $3,000 to net $3,000.
3. You cannot withdraw from your settlement.
4. In fact there is a Structured Settlement Protection Act (SSPA) in each and every one of the 50 United States and the District of Columbia. A structured settlement factoring transaction is not a withdrawal. The immutable fact that court approval is required and that the structured settlement transfer acts refer to a transfer of structured settlement payment rights (NOT a withdrawal) flushes the slurry of Elsie's cow poo from Stone Street Capital, a JG Wentworth company, down the trough.

I will continue to document these sales practices of companies in the structured settlement secondary market so that state and federal legislators can continue to see examples of how structured settlement factoring companies disrespect consumers.  How hard is it to simply use the right terminology and make it a habit to do so?

The collective strategic failure of the majority of state legislatures to regulate the sales practices of structured settlement factoring companies has in some cases led to disastrous outcomes. 

John Darer Reviews Structured Settlement Canards of The Week

by Structured Settlement Watchdog

Introducing the Canard of the Week

Time to bring a little more levity to some of the claims that factoring companies make to attract people to sell their structured settlement payment rights through structured settlement factoring transactions, for pennies on the dollar. 

A. Is JG Wentworth a Structured Settlement Broker?

JG Wentworth is not a structured settlement broker, it is a structured settlement factoring company, alsocalled a structured settlement transferee in certain states like Maryland, Georgia and Louisiana. JG also does pre settlement loans. Simply buying a Google adword does not make JG Wentworth a structured settlement broker.

B. Is J.G. Wentworth an annuity company?

According to the Pennsyvania Department of Insurance "you must be licensed to sell, solicit or negotiate insurance in the Commonwealth of Pennsylvania, or be appropriately licensed to transact other insurance-related functions. JG Wentworth is based in Chesterbrook, Pennsylvania. When it acquires structured settlement payments for pennies on the dollar, as all such companies do, JG Wentworth is not buying an annuity, it is buying structured settlement payment rights which are not an annuity. A search of the Pennsylvania Inusrance Department website performed by this author on February 9, 2023 did not show JG Wentworth as having a valid insurance license. With all due respect I don't know how Consumer Affairs can mischaracterize JG Wentworth as an annuity company.

C. Is DRB Capital Telling the Truth When it Claims You "Can Collect All of Your Money all at once"? 

No Ducky, it's nothing but a "Merry Mallard-y". DRB Capital is channeling the Old Peachtree. DRB Capital states on the Annuities section of its website (at time of publication)  "there are many circumstances that lead to the need for the person receiving an annuity to collect all or some of the money all at once, rather than waiting for payments over several years".

DRB Capital is mistaken. Nobody but nobody gets ALL of their money if, or when, they sell structured settlement annuity payments to DRB Capital or anyone else. In fact selling your structured settlement payment rights is a guaranteed loser. Peachtree quacked the same canard years ago,in 2008, before "Mr. Wentworth and the Zaftig Viking Opera Singers took over.

See this capture of a 2008 Google search  http://www.google.com/search?hl=en&q=peachtree%2C+%22cash+now%2 (typepad.com)

 

 

 

Sell Any Annuity "75 Years of Experience Scam" | What Happened in 1947?

by Structured Settlement Watchdog

Sell Any Annuity, claims to have 75+ years of experience in a display of dogged factoring slobber.  If that were true, that would mean that Sell Any Annuity was established in 1947, or possibly earlier given the plus. 

The post war year of 1947 had some notable events, notably...

1. Roswell UFO incident
2. U.S. Secretary of State George C. Marshall announces the “Marshall Plan”
3. The International Monetary Fund IMF begins to operate.
4. The start of the Cold War which endured over four decades
5. The United Nations votes in favor of the creation of an Independent Jewish State of Israel.
6. India and Pakistan gain independence from Great Britain.
7. Jackie Robinson took to the field for the Brooklyn Dodgers becoming the first African-American to play in Major League Baseball.
8. Bell Laboratories invents the transistor.
9. Thor Heyerdahl's balsa wood raft the Kon-Tiki, smashes into the reef at Raroia
10. Chuck Yeager, a United States Air Force Captain and World War II veteran, becomes the first person to break the sound barrier, and perhaps significant to this line of thought,
11. Artist Henri Matisse painted "The Circus" and 
12. My late mother was 9 years old.

Structured settlement factoring companies, their representatives and their sales practices, are mostly unregulated, often to the detriment of consumers. 

Someone who was aged 20 in 1947 would be aged 95 now. Someone who was aged 30 then would be 105 now.  The first purported structured settlements were associated with the Thalodomide cases in the 1960s, but structured settlements didn't really establish a foothold until the late 1970s with a series of IRS Private Letter Rulings. 

Sell Any Annuity is Just Another Shill Site for CBC Settlement Funding 

Adding up the years of experience of indivduals in a firm is an ever changing scam on consumers who fall for it. The Wayback Machine shows records for Sell Any Annuity (dot) com since only December 10, 2016. CBC Settlement Funding was spawned from ex JG Wentworth people.  JG Wentworth's first iteration was established in 1991, which is about 31 years prior to this posting.  According to its BBB report, CBC Settlement Funding was started in 2008, 14 years prior to this posting. The footer of the Sell Any Annuity website states  "By submitting my information to Sell Any Annuity, I consent to be contacted by phone / text or email by a representative from CBC Settlement Funding. Representatives may utilize an autodialer and standard cellular rates apply". The Privacy Policy page lists a non-working number 800-123-4567. LOL

Here's how a "Years of Experience Scam" works

Newer companies attempt to beef up their resume, by adding up the years of experience of each employee and present the total number as years of company experience to consumers. For example,  3 people times 25 years of experience each equals "75 years of experience" under a " Years of Experience Scam".  

Now follow me here, let's say "CPO Sharkey", who had 25 years of experience  of experience pushing "cash now" quits and the company then hires C3PO Marky, who has only 5 years experience working in the same industry. Now Sell Any Annuity, a company (or lead generation website) that has been in business for 6 years  (almost a dog year, how about that?), but advertises 75 years of experience, just like that, has only 55 years of experience.

Drawing a line under the chucklesome

Let's say Grandpa Rockhead started the flint milling business 55 years ago and his twin 18 year old grandchildren have been working the last 3 summers.  Gramps dies and leaves the flint milling business to the grandchildren Fred and Barney  (his only grandchildren for you sticklers).  Assuming a high school summer is 2 months and then (3 times 2)*2 is 12 month or 1 year.  That means under the fuzzy logic of a "years of experience scam" Grandpa's death pulverizes the flint mill's years of experience to 1 year of experience, dropping from 56 years to 1 year just like that. That's why a "years of experience scam" makes no sense.

There are numerous possible combinations that the companies that deploy the "Years of Experience Scam" could use to deceive consumers. It's just fuzzy math.There is really no need for a years of experience scam. Just be truthful with customers.