by Structured Settlment Watchdog
How does a financial writer such as Tim Leonard, "with over 20 years’ experience in the financial services industry" produce such copious argle-bargle" about structured settlement annuity companies?
Word of the Day
Argle-Bargle copious but meaningless talk or writing; nonsense Source: Oxford Languages
Excellent Knowledge of "Almost Areas of Personal Finance"?
Leonard's bio states that "Tim has spent most of his career working for a financial data firm, where he was Online Editor of the consumer-facing Moneyfacts site, and regularly penned articles for the financial advice publication Investment Life and Pensions Moneyfacts. As a result, he has an excellent knowledge of almost areas of personal finance and, in particular, the retirement, investment, protection, mortgage and savings sectors". None of Tim's stated experience has any bearing or bona fides when it comes to structured settlements. Let someone who doesn't dabble in "almost areas" and has legitimate credentials and experience in structured settlements rummage through the argle-bargle, provide the clarity about structured settlement annuity companies that is needed.
Lack of credibilty of Top 10 Reviews as a source of accurate information about structured settlements
Top 10 Reviews Argle-Bargle 1 "The best structured settlement annuity companies are on hand should you prefer to swap the promise of future payments for an upfront lump sum right now"
What's Wrong Wit Dat? Structured settlement factoring companies such as those listed in Leonard's Argle-Bargle are not licensed insurance companies and do not issue structured settlement annuities.
Top 10 Reviews Argle-Bargle 2 "For this reason, structured settlement annuity companies are often used by those who've won their day in court, but would like to immediately receive the funds they've been granted under any settlement to meet the costs of their legal team.
What's Wrong Wit Dat?
- One doesn't win one's day in court. To get there one files a lawsuit. Most cases don't go to trial. They settle.
- Before a lawsuit is filed, a notice of claim may be filed and claim may be settled before lawsuit is filed. A structured settlement may result from a compromise of a claim, or a lawsuit.
- A structured settlement is not granted, it is a negotiated compromise.
- Structured settlement factoring companies, which ARE NOT structured settlement annuity companies ARE NOT at all necessary to "meet the cost of their legal team" who prosecuted the legal case for the plaintiff.
- Companies such as JG Wenwtorth and others listed are not structured
Top 10 Review Argle-Bargle 3 "With the top rated structured settlement annuity companies, you’ll have the option to receive everything owed to you in a single payout, or to take a lesser amount and continue to receive the remainder as reduced regular payments. As a result, anyone hoping to raise a specific sum of money to maybe fund the purchase of a home, or assist loved ones financially, will also often find structured settlement annuities are a good choice".
What's Wrong Wit Dat?
IMisrepresentations by Top 10 Reviews
- "J.G. Wentworth is almost always featured in the top ten of any structured settlement annuity company list". JG Wentworth is not a structured settlement annuity company. It does not buy or sell structured settlement annuities. JG Wentworth buys structured settelment payment rights
- "DRB Capital is a flashy, high-profile structured settlement annuity company that offers plenty of bells and lots of whistles". DRB Capital is not a structured settlement annuity company. DRB Capital is a purchaser of structured settlement payment rights
- Strategic Capital is listed in the Top 10 despite not being a structured settlement annuity company. The fact that Strategic Capital is no longer a member of the National Association of Settlement Purchasers (NASP) is seen as a negative, even though JG Wentworth is listed as #1 and it too is not a structured settlement anniuity company and not a member of NASP. Hmm,wonder what that's all about?
Top 10 Reviews Argle-Bargle 4
"Loss of future gains
When you sell your structured settlement, you give up future value for present gains. Structured settlement companies take into account the depreciation of future earnings and apply a discount rate to your settlement. What this means is for a $100,000 settlement, you can expect to receive anywhere from $30,000 to $50,000."
What's Wrong Wit Dat?
Do you really think you can trust a company that tries to position a 50% to 70% loss of future payments a "present gain"? You're getting a discount on present value.
Top 10 Reviews collectively mentions the terms, structured settlement annuities, structured settlement annuity and structured settlement annuity company four times in the same two sentence paragraph.
"Given the various circumstances in which structured settlement annuities can prove useful, this guide to the best structured settlement annuity companies includes recommendations that are suitable for different scenarios too. So as well as finding our choice of the top structured settlement annuity company overall, you’ll also find other companies that excel for customer support, the level of information provided, and the sheer number of structured settlement annuity choices available".
The "subtlety" is overcooked.