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North American "Registry" of Structured Settlement Consultants (NARSSC)

by Structured Settlement Watchdog®

Consumers and structured settlement consultants should be wary of a slew of websites that call themselves "structured settlement registries" that have emerged on the Internet. None of these "structured settlement registries" is a recognized authority or associated with a government regulatory body.

Last month I reviewed and rubbished Seneca One's "National Structured Settlement Registry"  exposing it, again under its modified label, for the dubious lead gathering instrument that it is.

The latest unofficial  "registry"  made for SEO, is labeled the National Registry of Structured Settlement Consultants (NARSSC).  The National Registry of Structured Settlements is a meaningless "registry". The creators of the so-called NARSSC registry are not authorities on structured settlements  and have simply taken the name and information of every member of the National Structured Settlement Trade Association and "registered" them.  

For example, my trademarked name appears but I did not register.   Structured Settlement consultants who are not members of NSSTA are not included and some are horribly misspelled.  The registration includes their name, address and Google Maps listing  In their sample listing they have have embedded a Twitter feed from Pacific Life** in a flagrantly foul attempt to establish legitimacy (and collect $99-360 per year before it increases). Given that Pacific Life is fiercely protective of its brand, I seriously doubt that it authorized the use of its Twitter feed to a non appointed third party to be used to solicit business.

Bloody parches my nose hairs it does

The tell tale "smell" parching my nose hairs, is the sample structured settlement article which promotes pre settlement loans and post-settlement advances and its privacy policy which gives the truth away:

"north american registry of structured settlement consultants reserves some parts of the Service exclusively for professional purchasers, sellers, collectors and resellers of items and accessories who are acceptable to north american registry of structured settlement consultants in its sole discretion. Although north american registry of structured settlement consultants attempts to limit the use of these parts of the Service to such purchasers, sellers, collectors and resellers of items and accessories, nothing herein shall create any right of action against north american registry of structured settlement consultants for failing to adequately screen potential users or prevent the use of north american registry of structured settlement consultants or the Service by users who are not professional purchasers, sellers, collectors and resellers of items or accessories"  [  NARSSC Terms of use]

There is a false implication that those who names have been unwittingly placed in the "registry" have endorsed, or in the future may endorse, or have any say so in whether or not settlement purchasers may use the service.

Clearly, if you post content on the so-called North American Registry of Structured Settlement Consultants, you may be giving up valuable intellectual property rights for no compensation

"By posting Content to any part of the Service  (NARSSC) , you automatically grant, and you represent and warrant that you have the right to grant, to the Company an irrevocable, perpetual, non-exclusive, transferable, fully paid, worldwide license (with the right to sublicense) to use, copy, publicly perform, publicly display, reformat, translate, excerpt (in whole or in part) and distribute such Content for any purpose on or in connection with the Service or the promotion thereof, to prepare derivative works of, or incorporate into other works, such Content, and to grant and authorize sublicenses of the foregoing."  [ NARSSC Terms of Use]

NARSSC was only registered September 27, 2015.   The registrant is Panamanian privacy service associated with the Enom domain registry, according to  Whois records, but there is evidence on the Internet that suggests that the control is US or Canadian.  There is no address stated on the NARSSC website, there is only a phone number with a Cheyenne Wyoming exchange,  307-222-9395.  NARSSC is not registered as a business in the State of Wyoming as of this morning. There is no choice of law on the terms of service or a posted privacy policy. 

Additional research reveals that the organizer of NARSSC. will be launching a "National Registry of Structured Settlement Purchasers" (NARSSP)*.  At least there, based on the prior actions of Seneca One, there would be no surprise. But establishing a "registry' for an under regulated marketplace such as settlement purchasers would simply be even more misleading for consumers than the use of paid for reviews that some settlement purchasers have engaged in.

* Society of Settlement Planners  and Registry of Settlement Planners should take note of potential brand dilution on the horizon.

** 24 hours after this post was published and Pacific Life was notified of the use of its Twitter feed, the feed was removed from NARSSC.

 

 

 

National Settlement Registry | Seneca One Expands on Madness

by Structured Settlement Watchdog®

Seneca One Finance has pushed the envelope by expanding on its highly misleading marketing stunt called "Structured Settlement Registry"

Google the definition of registry this is what comes up 

reg·is·try

ˈrejəstrē

noun

noun: registry; plural noun: registries

1. 1.

   a place or office where registers or records are kept.

   • an official list or register.

     "a recognized purebred dog registry"
2. 2.

   registration.

Seneca One Finance is not an official list or register. 

It is a for profit entity,  that as a member of the National Association of Settlement Purchasers, .purports to uphold NASP's advertised standards.

Seneca One now promotes a National Settlement Registry

National Settlement Registry appears to be a Seneca One's database beacon.  Read closely and see that it isn't a government agency, it's a subsidiary of Seneca One,  How exclusive a "registry" is it Seneca One has to pay you to join?

I've laughed at all the Who's Who "Registries",  with more bastardizations than New York Ray's Pizza, that approach you with feigned snootiness about how you've been "handpicked to appear" and "by the way a leather bound copy to showcase your achievements...." will cost some unfortunate sucker $1,500.  Then you see people putting in their bios that they are listed in Who's Who. It's a riot.

So The National Settlement Registry offers you a $100 so that it can stuff its database with your details so that at some time in the not too distant future you can receive mailing or phone calls from Seneca One.  Whats exclusive about that?

And the structured settlement secondary market is enabled to engage in this behavior that would likely not be permitted in any other financial profession,  solely because there is no regulation of its participants.

And that Congressmen Elijah Cummings,  Chris Van Hohlen, Maryland Attorney General Brian Frosh and company,  is what I'm talking about.

 

 

 

 

 

 

Structured Settlement Registry? It's Just Cash Now Pusher Seneca One

by Structured Settlement Watchdog®

Is a "Structured Settlement Registry" coming near you soon? 

Maybe, considering that an individual with a Seneca One email address has just registered structuredsettlementregistry(dot)com on May 22, 2014, with GoDaddy.

Let's nip this structured settlement secondary market scam in the bud consumers:

1. Despite the official sounding term, there is no structured settlement registry. This appears to be a putative phishing scheme hatched by Seneca One, a Bethesda MD based cash now pusher, and member of the National Association of Settlement Purchasers at the time of publication, to obtain your private information.
   
2. You do not have to register your structured settlement anywhere. So don't.
   
3. Keep your structured  settlement information to yourself unless you enjoy being bothered with loads of unsolicited mailers and phone calls.
4. Steer clear of any website that includes the label structured settlement registry.

The Structured Settlement Watchdog® will continue to monitor the situation.

• Efforts by any secondary market company to generate leads using official sounding bogus entities will be "torpedoed".
• There should be no tolerance for it, in my opinion. Any research that we develop will be turned over to states' attorneys general and the Federal Trade Commission.

.

 

 

"Investor Watchdog" Paladin Registry | Inaccurate Information About Structured Settlements

 by Structured Settlement Watchdog®

Paladin Registry Gets Swatted For It's Failure to Research the Facts on structured settlements BEFORE printing

From an email I sent to Paladin Registry co-founder Jack Waymire June 6, 2010:

"To Whom It May Concern:

 

It has come to our attention that you are listed as co-founder pf Paladin Registry and or writer of an article entitled "Structured Settlement Investment Scam" on November 17, 2009  which is published on Investor Watchdogs. The article was inaccurate when it was written. The continued posting of the article is reckless in that it contains falsehoods about structured settlements that you have been made aware of and is potentially damaging and libelous about our multi billion dollar industry and its members.

 

In addition to the title " Structured Settlement Investment Scam" specifically offensive is:

 

"A structured settlement is usually an insurance arrangement, that includes periodic payments, that claimants accept to settle a personal injury lawsuit. Attorneys who handle legitimate settlements are in a position to route the claimants to particular companies for investment - legal or illegal. It would be easy for a knowledgeable attorney to falsify documents that created fake settlements"

 

You will note that Andrew Cravenho, the President of Settlement Quotes, LLC, a structured settlement factoring brokerage, commented ON YOUR BLOG that what Rothstein was peddling were not structured settlements. Moreover, there has been significant press that makes it abundantly clear that these were not structured settlements. Yet you have done nothing to correct your post.

 

Following is a link to a number of blogs and podcasts concerning our coverage of the Rothstein matter. Following it you will note from the December 1, 2009 post,  that the Criminal complaint against Rothstein has no mention of structured settlements.

http://structuredsettlements.typepad.com/structured_settlements_4r/scott-rothstein-ponzi/

 

Your web site says that you run a "National Registry to find pre-screened, five star rated planners and advisors who provide financial advice and services in your community"as a free Public Service. For "twenty of those years" you say you were "the president of a Registered Investment Advisory firm and a Broker/Dealer".  In your former role and as a "watchdog" you must realize that presenting accurate information is essential.

 

Please cease and desist defaming our industry and either remove or correct your post immediately. Note that this email is being written independently as the structured settlement watchdog but is being copied to the members of the board of directors of the structured settlement industry trade association and others "similarly situated" in the industry.

 

Thank you for your prompt attention to this matter.

 

Very truly yours",

 

 

" Don't tread on the structured settlement industry"

Postcript: Subsequent to the posting of this email and this blog post the offensive Palidin publication was removed