by Structured Settlement Watchdog
On March 24, 2020, Lajuan Davis refused independent professional advice and paid for it by stiffing himself for the $65,000 he could have got with a 5.4% discount rate, according to our source, which would have raised $140,000 in cash for $220,000 worth of lump sum payments. He might have even been able to do better than that. Instead Davis's structured settlement was harvested by piggy Orange Blossoms LLC, which paid him only $75,000. Orange Blossoms, LLC is located at 5300 W Atlantic Ave STE 200, Delray Beach, FL 33484, the same address and suite number as Rising Capital Associates.
The effective discount rate on the deal was 13.65% which is not even in the ball park of competitive. And Judge Caroline Tesche Arkin approved it May 5, 2020.
In Re: Approval of Structured Settlement Payment Rights by Orange Blossoms, LLC, Petitioner and L.D., Respondent
in the Circuit Court for the 13th Judicial District of the State of Florida m in and for Hillsborough County Case 20-CA-002916 E-Filed March 30, 2020
- $20,000 due January 3, 2025
- $100,000 due on January 3, 2027 and
- $100,000 due on January 3, 2032
If Lajuan Davis needed only $75,000 then he could have kept some of his tax free structured settlement payments. Instead he effectively grossly overpaid the buyer and/or their investors, St James Receivables, LLC.
The lesson to be learned is to always shop around, no matter what.