by Structured Settlement Watchdog®
Novation Funding advanced money to a quadriplegic 4 times in the space of 2 years, then filed suit against the 50 year old Westbury, NY resident to get their money back after Mr. Shaw decided he was getting scammed by Novation and refused to move forward with selling his payments. [Novation Funding, LLC d/b/a WLTI, D/B/A Rainy Day Processing D/B/A Sunshine State v Frederick Shaw Nassau County Supreme Court 603713/2017] Download Frederick Shaw re Novation suit, alleges Novation Funding scam.
According to Mr. Shaw's affirmative defenses filed Pro Se
"(Mr Shaw) Never refused to pay money. Plaintiff tried to scam closs (sic) to $900K for $338K. When dependant (sic) refused to deal Plaintiff held the defendant's annuity hostage for 90 days. When the defendant told them to take their money several times but the Plaintiff would not Release the Defendant account unless the deal was done".
Note that Mr. Shaw is a quadriplegic and signs his documents with an "X". His handwritten answer was dictated by him to a friend who assisted with the filing.
In my opinion, after speaking to Mr. Shaw, who is yet another African American New Yorker in vulnerable circumstances apparently targeted by Novation Funding, an investigation needs to be conducted about the proposed deal that Novation was suggesting Mr. Shaw enter into and providing advice. Purportedly an address in another state was set up in contemplation for the transfer. That would be bad.
New York structured settlement annuitants should never agree to use an address in another state where they don't reside. If a company offering to buy structured settlement payments suggests that you do something shady like use an address to Florida, CT, Virginia or a state that you don't reside, run! If you can't run, wheel, hobble or hop away fast! Report the company to your state's attorney general. Report it to the Structured Settlement Watchdog®