by Structured Settlement Watchdog
A Florida structured settlement factoring company and member of NASP could be in serious trouble, for a reckless attempt to defraud an annuitant following the mother of all court scrapes.
The annuitant had settled a personal injury cases several years earlier as a minor, with her parent as guardian. Upon investigation, a source discovered a single document contained the guardian's name was exploited. The guardian was then contacted with a classic South Florida hustle in which an attempt was made to disturb the guardian by claiming (1) that there was mistake in the structured settlement established (2) that said mistake could be cured by "restructuring". The "restructuring" scam involves first selling your structured settlement payments to the South Florida hustler for pennies on the dollar. That is not restructuring. There is no puffery defense with this lot. It's an out and out scam.
Further questions arise concerning whether such conduct is unlawful given that such solicitation and advice is typically the work product of unlicensed or unregistered individuals
Fortunately for the target of the South Florida hustler,the guardian, contacted her attorney and the original settlement planner.