Recission of Transfer Orders Feed

December 11, 2024

Seneca One, LLC Got the Okaloosa Vamoosa in 2023 Rescission of 2010 Structured Settlement Transfer Orders

by Structured Settlement Watchdog

Seneca One, LLC Got the Okaloosa Vamoosa in 2023 Rescission of 2010 Structured Settlement Transfer Orders

Alot of bad structured settlement factoring deals happened in Sumter County Florida in years before the 2016 reforms to Florida's Structured Settlement Protection Act 

Structured settlement transfer orders rescinded
Orders Vacated and Transfer Rescissions

Read my 2018 blog about the late James Mcmillan, who received the largest settlement of claims arising out of the 2003 Staten Island Ferry crash. McMillan was tag teamed by Seneca One and Structured Asset Funding. Paralyzed Staten Island Ferry Victim in Structured Settlement Annuitant v Factoring Co. War Part 1 - Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews

Granted for Plaintiff in the Circuit Court  of the First Judicial District In and For Okaloosa County, Florida

Henry Hatch Harris, III, as guardian of the property of Kristen Chambless, Plaintiff v Seneca One, LLC Case No.: 2014-CA-003562

Count 1 Recission of Transfer Agreement

Count 2 Exploitation of a Vulnerable Adult

Count 3 Interception or Use of Wire, Oral, or Electronic Communications by Seneca One-Violation of Florioda Statute §934.03(1); and

Count 4 Failure to Stipulate  Discount and Finance Charges and Failure to Properly Disclose Required Information in Violation of Florida Statutes §626.99296   [ Florida Structured Settlement Protection Act]

Plaintiff's damages stemming from the foregoing were $1,245,149.84 PLUS costs of $2,966.71 and attorney's fees in the amount of $119,341.50. Judgment was entered in favor of Substitute Party Plaintiff Phyllis Harris, as guardian of the property of Kristen Chambless against Seneca One LLC for damages plus fees and cost in the totala mount of $1,367,457.95 with interest running at 6,58% per annum, adjusting in accirdance with Section 55.03 Florida Statutes

ALL of the Okaloosa Orders for Recission and Vacation "Deep Sixed" Orders Made in Sumter County 13 Years Earlier

2010-A-000828     (Sumter County Official Records  ORB 2223 pp 588-702) dated August 20, 2010;

2010-CA-000988   (Sumter County Official Records  ORB 2237 pp 585-598) dated October 1, 2010;

2010-CA-001344   (Sumter County Official Records  ORB 2259 pp 758-770) dated December 6, 2010.

All the transfer orders involved payment streams from structured settlement annuity 861241TO02Z issued December 4, 1986, by Transamerica Occidental Insurance Company

Copy of Final Judgment in Chambless v Seneca One September 15, 2023 Download 2023-09-15 Chambless Order vs Seneca One

Consequences to Investors Growing

To the extent there were payments left where there were third party investors, this decision presents a chilling reminder that investments in structured settlement receivables are not annuities and present more risks for a marginal additional return on investment.

 

 

 

 

 

 

Posted at 11:20 PM in Factoring Company Bad Business Practices, Florida Structured Settlements, Judgments Against Factoring Companies, Okaloosa County Structured Settlements, Recission of Transfer Orders, Seneca One Commentary, Structured Settlement Factoring News, Structured Settlement Transfers, Structured Settlement Watchdog® |

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Guide to Structured Settlements 2025

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  • Rated Ages and Structured Settlement Cost
    Rated Ages for Structured Settlement Annuities present advantages to all parties. Shift the mortality risk to a life insurance company which specializes in assessing mortality risk to price its life insurance and annuity products. Rated ages boost your structured settlement annuity benefit per premium dollar, or your yield on lifetime payments. Rated ages help to reduce the cost of funding a Medicare Set Aside arrangement where a Structured MSA, is being used [WCMSA, LMSA or NFMSA].
  • Top Structured Settlement Annuity Companies 2025
    Which life insurance companies issue structured settlement annuities in 2025? A list of current structured annuity issuers, the location of their home offices and their financial ratings from A.M. Best, Moodys, Fitch, Standard & Poors and/or other Tier1 NAIC ratings, with links to their websites and other useful information. Last updated November 3, 2024
  • Treasury Funded Structured Settlements
    Treasury Funded Structured Settlements are a settlement option for the most conservative using the OTHER permissible qualified funding asset under IRC 130(d), United States Treasury Bonds in addition to, or instead of, structured settlement annuities. Treasury Funded Structured Settlements can also be used to fund installment sales, also known as structured sales and other non qualified structured settlements.
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    Use the Taxable Equivalent Yield chart to help compare the Internal Rate of Return (IRR) of a structured settlement to other alternative or complementary investments. Need help with the chart? Call 4structures.com® LLC at 888-325-8640
  • Structured Settlement Payments | Types of Structured Settlements 2025
    In 2025, you can structure your settlement payments in various ways. A structured settlement allows for multiple payment types within one agreement. You can tailor and merge different structured settlement payments to suit your individual needs, either alone or alongside other financial instruments. If desired, diversify your structured settlement by utilizing multiple annuity issuers, treasury-funded structured settlements, index-linked structured settlement payments, and market-based structured options.
  • Structured Attorney Fees for Tax Deferral for Attorney Contingency Fees
    Structured attorney fees offer a financial strategy that provides a unique method for deferring taxes for attorneys and their firms. Attorneys can structure or defer their legal fees independently of whether the plaintiff structures their settlement. There are various ways to structure attorney fees, including capped or uncapped index-linked structured settlement annuities with payments adjusted according to the S&P 500 or another index's positive changes. Trial lawyers might also opt for a special deferred payment/compensation arrangement if they seek market-based returns without a cap. As the year-end approaches, consider adding structured attorney fee specialist John Darer® to your settlement planning team for 2025.
  • Structured Settlement Annuity Company Customer Service Phone Numbers
    Receiving structured settlement payments from your own structured settlement or inherited structured settlement? You'll like this huge time saver. Click the title for a link to a comprehensive list of customer service telephone numbers that includes both current AND former structured settlement annuity issuers and reinsurers. If you have simple bank or beneficiary changes, or if the insurance company that issued the structured annuity has merged, sold or spun off its block of structured annuity business (e.g. Aviva, Allstate, Transamerica, AEGON, GE Capital, Liberty, CNA, Confederation Life), oran annuity issuer has changed its name and you're trying to track them down. Here you go! The list is regularly updated. Last updated December 9, 2024.
  • Structured Settlement Quote Lock-Ins | What You Need To Know
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  • What Are Structured Settlement Annuities?
    Structured settlement annuities are annuities that can provide one or more customized annuity payment streams in a single contract. Read about structured settlement annuities here.
  • History of Structured Settlements
    Tracing the roots of structured settlements history from 1918, when Congress exempted damages for personal injury or sickness from income tax, to the establishment of structured settlements as a core personal injury settlement planning tool to the present day.
  • What Are Market Based Structured Settlements?
    Market based structured settlements are an alternative or supplementary structured settlement solution for the plaintiff, attorney or law firm that: 1. Can afford to take some market risk 2. Have discretionary settlement dollars. Claimants and attorneys alike may find that market-based structured settlements provide the opportunity to receive tax-free income, or tax-deferred income, while enjoying growth potential.
  • iStructure |Uncapped Fixed Index Structured Settlement Annuity
    iStructure is an innovative game changing fixed index structured settlement annuity for plaintiffs or attorneys. with an intermediate to long term horizon
  • Structured Settlements and Longevity Risk| What Are the Odds?
    Do your financial resources give you enough road, or will the road run out before you do? A structured settlement annuity helps mitigate the risk of outliving your savings, no matter how long you live. A structured settlement can include one or more customized payment streams and types.

Qualified Settlement Funds

  • What is a Qualified Settlement Fund?
    Qualified Settlement Funds | What You Need to Know
  • Firmwide Qualified Settlement Funds Debunked
    Firmwide qualified settlement funds have been heavily promoted to trial lawyers, but have been debunked in a detailed analysis in a July 2022 legal opinion a tax partner at the law firm of Faegre Drinker Biddle & Reath, LLP. Trial lawyers and firms who have established Firmwide QSFs or coinsidering establishing a Firmwide QSF should read the analysis as part of their evaluation.

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Why Take a Structured Settlement?

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