by Structured Settlement Watchdog
Annuity Payment Freedom, a San Francisco lawyer-owned website that solicits structured settlement purchasing services, self describes its role as "Once we gather information about the regular payments that you have a right to receive, the period of time over which you receive these regular payments, we information we will be a place that allows us (sic, sic) to provide payout information"
Once you get past the word salad and start walking on the pavement you realize there's something malodorous and unpleasant under foot.
Here is what Annuity Payment Freedom says about Seneca One Finance on a page that is noted as "last revised February 3, 2022":
"Since 2002 Seneca One has grown to be one of the largest financial services companies of its kind in the country. The company not only buys structured settlement annuities and lottery prize winnings, but also the specialists in Seneca One explore options and opportunities designed to help their customers realize their long-term financial goals. The company is a member firm of the National Association of Settlement Purchasers, the only professional trade organization for participants in the secondary market for structured settlements. SenecaOne has an A+ BBB Rating".
In fact, (1) it's highly improbable that Seneca One actually bought any structured settlement annuities as anyone who knows what they are talking about would know; (2) Seneca One is NOT a member of the National Association of Settlement Purchasers (3) Seneca One has an F BBB rating and the BBB has been on to them for Misuse of BBB Name and/or Logo for more than 18 months! To wit:
"On August 5, 2020, the BBB requested that the company remove the BBB Accredited Business Logo along with the incorrect Rating off their website. The company received 3 emails, a mailed letter and the BBB left 2 Voice Mails regarding the matter, they failed to respond. To date the logo is still on their website. This business is not Accredited with the BBB and our policies prohibit such a reference" The BBB listing for Seneca One lists one unanswered complaint from 2020 and the toll-free number goes to a purported company Payment Genius which lists two contacts in Mexico on LinkedIn.
in June 2018 I reported
"Seneca One, the Bethesda purchaser of structured settlement receivables from annuitants, falsely displays a BBB Accredited Business shield on its website when the company is NR (not rated) and has 5 unanswered negative reviews. Seneca One falsely advertises that it has an A+ rating when it does not have any rating at all. Maryland has become a witch's brew for false advertising by settlement purchasers and intermediaries, something I've disdainfully labeled the Maryland Cauldron of Deceit.
Seneca One also continues to mislead in Promoting Unlicensed Individuals as "Annuity Specialists"
While Annuity Payment Freedom correctly notes that Peachtree is part of JG Wentworth, it fails to do the same with Stone Street Capital which has been part of the JG Wentworth family since.
Jovan Johnson, who self-describes as an "SEO Addict" on Linkedin, operates Annuity Payment Freedom as well as a similar website Paymaster.co
While it's nice to read about Johnson's sustainable water usage and that "they try to ensure that faucets don’t run unnecessarily and that they have also taken the initiative to use filtered water and reusable bottles rather than purchasing bottled water", why has he fluffed it with Seneca One?
If you are a structured settlement broker or settlement planner you may see your name, contact information and the word website which purports to be a link, but in many cases when I tested was a deadlink. Members of NSSTA, AASC, SSP others are not spared being linked with the factoring shill. Johnson's business is generating leads for factoring companies, and he freely discloses he gets a piece of the action. Sites like Annuity Payment Freedom and Paymaster.com capitalize on the brands of members of NSSTA, AASC, SSP in search engine results. Not even an original scheme.
In the about us section of Annuity Payment Freedom self describes what it does as " We provide free, publicly accessible, financial information. We earn money if a visitor contacts us to sell annuity payments rights and completes such a transaction" It may be free publicly available information (taken from the NSSTA member list and list of brokers from the Department of Justice, but your name, company name, logos (possibly trademarked) are being used to promote Johnson's factoring business, right down to the Google map for your location being used to get people to Johnson's website in local searches.
A Foot Shooting Gallery by Annuity Payment Freedom
"Who purchases annuity payments?
If you have an annuity or structured settlement and are interested in selling your payment rights in exchange for a lump sum payment, there is a market full of companies, aside from us, that are seeking to do business with you.
How to find the best annuity buyer
Review our list below as we have listed most companies in the secondary market. As important as it is to understand a company’s reputation, it is important more important that you are treated fairly. Relevant factors you may want to consider are as follows:
- Whether the company can be easily contacted.
- Whether the customer service representatives are cooperative and easy to deal with.
- Whether their offer is fair and competitive in the current market.
- Whether their representatives clearly explain the timeline and available payment options.
- Whether they are properly licensed and are in compliance with applicable laws.
- How do you feel about the process and service being provided to you?"
If only there were licensing of participants in the structured settlement secondary market.
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