Canard of the Week from MJ Settlements' Structured Settlement Annuity "Presto Change-o Total Bunko"

by Structured Settlement Watchdog

MJ Settlements, Inc. falsely claims  "When an original structured settlement annuity is sold, either partially or in full, it then becomes known as a Secondary Market Structured Settlement Annuity"
 

Just like that huh? In the immortal words of Carl Spackler, the groundskeeper at Bushwood Country Club "I have to laugh".

The original structured settlement annuity, which is a qualified funding asset, is never actually sold.

Ipso facto, original structured settlement annuities don't become anything else. Not even birds with arms.  They retain their individual qualities and characteristics even if certain payment rights are transferred lawfully to an investor in accordance with state and federal law.

via GIPHY    Birds with Arms

It's a pity that the Coral Springs Florida company can't properly articulate such a basic material fact about its own business, a fact that would be critical to investors in my opinion, especially vulnerable investors.

So why trust MJ Settlements when they say they offer their investors "the safety and guarantee of high yield Secondary Market Structured Settlement Annuity", when what they're seeling to investors is not actually an annuity, let alone a structured settlement annuity? 

Another Goober from MJ Settlements' LinkedIn

MJ Settlements Story    "Sam turned to MJ Settlements and discovered the power of Secondary Market Structured Settlements"

1. A purchase of structured settlement receivables is not equivalent to the purchase of a structured settlement, or an annuity.
2. A purchase of structured settlement receivables is not equivalent to the purchase of an insurance product. 
3. The purchase of structured settlement receivables does not make you "a party to a suit or agreement or to the worker's compensation claim or a person who has assumed the liability for such payments under a qualified assignment in accordance with (IRC) Section 130". 

IRC 5891 (c) (1) Structured settlement

The term “structured settlement” means 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 section 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 the character described in subparagraphs (A) and (B) of section 130(c)(2), 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 section 130.