by Structured Settlement Watchdog
Rising Capital, a Delray Beach structured settlement factoring company is soliciting structured settlement payees, with a
"Division of Plaintiff Rights" schmooze that turns out to be a ruse. Just a solicitation to sell your structured settlement payments to Rising Capital.
Rising Capital Sales Pitch is Like A Flaccid Souffle
Just to be clear if you sell to Rising Capital, or any other company like them, your "dough" ain't rising. "Pennies on the dollar" sure isn't rising. More like a flaccid souffle.
The recipient of the letter received an envelope that has a return address of 5300 West Atlantic Ave, S200 Delray Beach, FL 33484. Next is listed on the envclope is Division of PL. Rights C-
With even more jiggery-pokery, the envelope further states "The contents of this parcel have been filed and registered in our files office prior to sending. Please do not tamper with contents". And "enclosed belongs to receiver only".
The "Division of Plaintiff Rights" is silly billy stuff. If you settle a lawsuit against all parties with (or without) a structured settlement and your case is dismissed or discontinued with the Court, your Plaintiff is no longer a plaintiff on that case. He/she is a structured settlement payee.
Same Cats | Old Ball of Yarn
Back on May 12, 2019 I reported in Rising Capital's Rising BS | Spoofs John Hancock Life Insurance Company Internal Audit
"Rising Capital sent a mailer with the header "Audit Alert-Time Sensitive" bearing the subject line "Internal Audit for: John Hancock Life insurance Company." An audit is "an official inspection of an individual's or organization's accounts, typically by an independent body.". Rising Capital is suggesting that it has done an internal audit for John Hancock Life Insurance Company. Given that John Hancock has its own internal auditors, why would they hire Rising Capital Associates? One wonders what Martin Sheerin, the John Hancock CFO will say when he sees Rising Capital's fulminating piece of bullship? A copy of Rising Capital's work is on its way to John Hancock. A Cardeno Vice-President-Audit Department doesn't appear to come up on the grid on 3/9/2019".
See my March 10, 2019 blog High Pressure Structured Settlement Factoring Company Mailers Reviewed
An industry friend recently shared with me that the National Association of Settlement Purchasers (NASP) brought up the subject of extensive negative publicity the the industry segnment was receiving.
Maybe its time that NASP starts getting serious about collaborating, supporting, advocating and putting into place a licensing standard for the structured settlement secondary market, just like there is for life settlements. Surely that would be good for business. Solicitations such as Rising Capital's "Division of Plaintiff Rights" and the John Hancock spoofing from 2019 described in the prior posts have no place in this business. The types of mailers deployed by Rising Capital and others (like late Seneca One's old "National Structured Settlement Registry") would never be allowed if sales practices in the structured settlement secondary marklet were actually regulated everywhere instead of the unregulated morass that has gone on for more than 20 years. History has proven that self-regulation and self discipline is clearly not the structured settlement secondary market's strong suit.
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