by Structured Settlement Watchdog®
New York cash now pusher Northeastern Capital Funding's website provides fodder for this week's financial literacy lesson. I've analyzed what Northeastern Capital Funding says to the public at the time of the original posting* and followed with my comments on the inaccuracies, some of which may amuse you.
Straight from the Empire State Building...
A. Northeastern Capital Funding "Many States have recognized the need for lump sum payoffs, and have provided for them in their by-laws"
- A bylaw is a law or rule governing the internal affairs of an organization.
- A state is not an organization.
- The New York structured settlement protection act does not refer to the internal affairs of the state
- The structured settlement protection act in New York is part of the General Obligations Law. That is not a by law.
B. Northeastern Capital Funding "From it's conception in 1997, Northeastern Capital has only handled lump sum payoffs"
- Conception is the formation of a viable zygote by the union of the male sperm and female ovum; i.e. fertilization.
- Is Northeastern Capital Funding implying that it was a fetus conceived in a fallopian tube? If so, let's see the birth certificate!
- Again that word "payoff"
3. "Northeastern Capital processed our first lump sum payoff in 1997. Since then, we have gone on to assist many other clients in obtaining lump sum payoffs for their lottery, trust, settlement and annuity payoffs"
These guys are giving payoffs, on payoffs?
FINANCIAL LITERACY, GET IT!
*and when we last checked on August 11, 2015