by Structured Settlement Watchdog
In the interest of financial literacy, I continue my commentary about how structured settlement factoring companies make false claims to to promote themselves in public facing advertising.
Exhibit A Toronto based Strategic Capital
Strategic Capital maintains that it is a structured settlement annuity buyer. Ask Strategic Capital to document a single case in which they have purchased a
structured settlement annuity in the United States since they were established almost two decades ago. Despite hash tagging for local advertising on the Internet that it is a structured settlement annuity buyer all over the place, if put to the test it's doubtful that Strategic Capital will be able to prove that it actually has bought a structured settlement annuity. Here's why.
Why Is a Company that Promotes Itself As Structured Settlement Annuity Buyer a Structured Settlement Buyer Liar?
A. They aren't buying a structured settlement annuity
B. They are buying structured settlement payment rights, a critical and important distinction
C. There are only three types of structured settlement annuity buyers
- A Defendant who is buying and holding the structured settlement annuity to fund a future periodic payment obligation to a claimant under a settlement agreement
- An Insurer who is buying and holding the structured settlement annuity to fund a future periodic payment obligation to a claimant under a settlement agreement
- A Qualified Assignment Company that has assumed an obligation to make future periodic payments under a settlement agreement and buys a structured settlement annuity as a "qualified funding asset".
Unless Strategic Capital has been a Defendant and bought an annuity to pay for damages it owes in the settlement of a dispute or litigation it will not have been a structured settlement annuity buyer.
Despite the immutable fact that what they're buying are structured settlement payment rights, which are defined under the Internal Revenue Code,
Take a look at mendacious claims made by Strategic Capital found in a Google search on August 24, 2021
- "A structured settlement annuity buyer can turn your payment agreement, the result of a personal injury claim, into a lump sum of cash now"
- "As a top structured settlement annuity buyer, we deliver"
- "Buyer of structured settlement annuity"
Sellanyannuity.net is another structured settlement annuity buyer liar "Contact a structured settlement annuity buyer Sellannyannuity.net (Source: same Google search)
Getmycashnow.org (CBC Settlement Funding answered the phone call when I dialed this afternoon) is a structured settlement annuity buyer liar "carpet bombing" the internet with " Call us today for the best structured settlement annuity buyer"
Even lawyers who give advice to people with structured settlements spread the nonsense
"People decide to sell future payments to a structured settlement annuity buyer" Eugene Ahtirski attorney, although at least Mr. Ahtirski is not claiming to be a structured settlement annuity buyer like the company in Exhibit A or the others mentioned above, but surely Mr. Ahtirski knows that these companies are not buying annuities.
The Attorney General for the State of Maryland refers to such companies as "structured settlement transferees" or factoring companies and maintains a list of such companies that are registered in Maryland. It does not refer to any of the registered companies as a "structured settlement annuity buyer".
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