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Been Called by a Structured Settlement Factoring Company Shortly After Submitting a Change of Address to an Insurer?

by Structured Settlement Watchdog

A question appeared on social news aggregator Reddit about why someone has been receiving alleged "scam calls" regarding their structured settlement annuity?

The Redditor states he "has a life-long structured settlement annuity was won in court against an insurance company when he was 6 [they not the parents who obtained the settlement for their child when he was 6 :-)].  In the past couple of days I have received a few calls from random spam companies, I believe they said insurance companies, asking if I'd be interested in selling my annuity for a large cash settlement. Like I said earlier I've had it since I was young so my parents ensured my whole life that I know better and I would never consider selling it. What I'm curious to know is, how do these scam call agencies/insurance companies, or whoever they are, know that I even have an annuity? I believe there is a confidentiality agreement from my court case, I could be wrong, but how are they obtaining my info and my name and number curious if anyone knows or has an idea, thanks!

What is Reddit?

Reddit is an American social news aggregation, content rating, and forum social network. On this platform, registered users (commonly referred to as “Redditors”) submit content such as links, text posts, images, and videos. Other members then vote on these submissions, either upvoting or downvoting them. The site organizes posts by subject into user-created boards called “communities” or “subreddits”. 

What is a Redditor?

A Redditor is a registered user of the website Reddit.

Out of the Blue Contacts to Sell Payments After You Submit Address Change to the Company that Issued the Structured Settlement Annuity funding your Payments?

• A structured settlement annuitant receives a mailer tied to a South Florida structured settlement factoring company within a month of submitting a change of address to the life insurance company
• In another case the guardian for a minor who is receiving a structured settlement was contacted by a South Florida structured settlement factoring company at the new address, shortly after submitting a change of address directly to the life insurance company.

If you are such a structured settlement annuitant or the annuitant's guardian, or a structured settlement broker or lawyer who has heard from a client about this scenario, please contact me. 

There is No Structured Settlement Registry

• There is no structured settlement registry. Aren't you getting enough robocalls?
• If you receive a call or text and you have never sold any payments before, hang up. Don't respond to any texts. If you receive such a mailer, save it and send me a copy.  Don't volunteer any personal information.        
• There is no need to register your structured settlement like you would register a car. Think about it. Why would you need to be registered when the people who are targeting you for pennies on the dollar demotions are not required to be licensed in most states?

 

 

 

 

Novation Settlement Solutions Cons With Ugly West Palm Structured Settlement Road Kill Con

by Structured Settlement Watchdog

As Elvis Presley or BIg Mama Thornton might parody to Novation Settlement Solutions "You ain't nothing but a con dog"

Novation Settlement Solutions is conning structured settlement annuitants by intentionally and falsely stating that the fact that punitive damages and attorney fees are subject to taxes are a con of structured settlement annuities.

I'd Rather Eat a Corn Dog than Deal With a Con Dog Like Novation Settlement Solutions

Just another twisted move by West Palm Beach based Novation Funding LLC to twist people out of their structured settlement by saying and doing anything so that it can make fat profits. 

The true facts about structured settlement annuities:

1. The issue of taxation of structured settlement payments  is a function of the type of damages, not structured settlement annuities that fund them.
2. Structured settlement payments that represent damages on account of personal physical injury, physical sickness, wrongful death, workers compensation and wrongful imprisonment are income tax-free subject to the applicable sections of the Internal Revenue Code.
3. Punitive damages and other taxable damages can be structured via a non qualified assignment, which are funded with structured settlement annuities,  or periodic payment reinsurance.  
4. Structuring taxable damages is a customized financial solution, with many applications that helps avoid a major tax hit in year one and may mitigate AMT.

You Ain't Nothing But a Con Dog

You ain't nothing but a con dog, scratching all the time

I'd rather eat a corn dog, bitchin' better time.

You don't know squat about structures, so you ain't no friend of mine.

Well, you said there was taxes

Found out that was just a lie...

 

 

 

Cedric Martez Thomas "Was Looking For a 2nd Chance" He Chose Novation", Got Burned For $1MM Plus

by Structured Settlement Watchdog®

Novation Settlement Solutions keeps trotting out Hector Picard, a remarkable adaptive triathlete as its spokesman with the message "When  Hector Picard Was Looking For a Second Chance He Chose Novation" and the sales pitch "Get Your Second Chance Now".  Whatever Novation may have got right on Hector Picard they got horribly wrong on Cedric Martez Thomas.

Cedric Martez Thomas went to Novation for a second chance and he got burned for over ONE MILLION DOLLARS. 

That's just a fraction of how much more Cedric Martez Thomas would have received had he not done business with Novation Funding LLC/ 365 Advance Services. Novation had enough fat in that deal to (figuratively) warm a colony of fur seals.

Elephant seal bellows "Novation Melt The Fat in The Thomas Deal"

It's personally sickening to me to see Novation, a member of the National Association of Settlement Purchasers, prattle on about Hector Picard when they completely hosed young Cedric Martez Thomas.

The Cedric Martez Thomas case is one more example of why members of the National Association of Settlement Purchasers are sometimes referred to as vultures.

Novation Capital's "Personal Stimulus Check" | Handing You Your Own Money At A Cost

by  Structured Settlement Watchdog

I nearly spit out my tea this morning upon hearing a Novation Capital spokesperson on CNBC refer to a selling a structured settlement payment rights as your own "personal stimulus check". 

The implication that money derived from the necrosis of your future financial security is  a "financial stimulus" in the same vein as the checks United States taxpayers received in 2009 is just "stunning".

Yet another example of how the lack of regulation of advertising and promotion in the structured settlement secondary market enables cash now pushers to say and do anything to shill their wares.