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National Consumers League Praises Suit Filed Against Factoring Company by Maryland Attorney General’s

May 19, 2016  |   Posted by :   |   Uncategorized   |   Comments Off on National Consumers League Praises Suit Filed Against Factoring Company by Maryland Attorney General’s

The National Consumers League this week issued a statement praising the lawsuit filed by Maryland’s Attorney General against a structured settlement factoring company over what are alleged to have been “predatory” practices. National Consumers League executive director Sally Greenberg said the NCL applauded the lawsuit by Maryland Attorney General.  According to Greenberg’s statement, “[s]tructured settlements, by […]

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New York Court Says Transfer Was Not Fair, Reasonable Where Payee Was to Receive Less Than Half the Payments’ Discounted Present Value

February 06, 2016  |   Posted by :   |   Uncategorized   |   Comments Off on New York Court Says Transfer Was Not Fair, Reasonable Where Payee Was to Receive Less Than Half the Payments’ Discounted Present Value

A proposed transfer of structured settlement payment rights that results in the payee receiving less than half of the discounted present value is not fair and reasonable under the New York Structured Settlement Protection Act, a New York state trial court judge ruled in a recent SSPA matter. In the case of In the Matter of […]

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Virginia Lawmakers Say Structured Settlement Protection Act Isn’t Working the Way It Should, Reports Washington Post

December 29, 2015  |   Posted by :   |   Uncategorized   |   Comments Off on Virginia Lawmakers Say Structured Settlement Protection Act Isn’t Working the Way It Should, Reports Washington Post

Following up on an in-depth article about structured settlement factoring practices in Virginia, the Washington Post today said that the issue has gotten the attention of state lawmakers who intend to strengthen the state’s structured settlement protection act. The Post said that members of the Virginia legislature are considering legislative changes, because the Virginia SSPA “isn’t […]

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Too Much Was Missing from Structured Settlement Factoring Papers, Said Court

December 01, 2015  |   Posted by :   |   Uncategorized   |   Comments Off on Too Much Was Missing from Structured Settlement Factoring Papers, Said Court

A petition for court approval of a transfer of structured settlement payment rights is typically commenced by a petition that includes copies of the disclosure statement, the transfer agreement, a list of the payee’s dependents, and often quite a few other documents. But sometimes, courts look at the documentation and focus on what’s missing. Such […]

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For Those In Minerals Wells, Texas, A Talk About Risky Investments – Including Life Settlements – Is on the Calendar

June 27, 2014  |   Posted by :   |   Life Settlements,Uncategorized   |   Comments Off on For Those In Minerals Wells, Texas, A Talk About Risky Investments – Including Life Settlements – Is on the Calendar

Mineral Wells, Texas, is not too far from Fort Worth,so for those who are in that area on July 1, the Mineral Wells library will be hosting a talk about investment fraud, so potential investors know what to watch out for. Certain kinds of “risky investments”, as highlighted by the SEC, will be among the […]

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Proposed Structured Settlement Factoring Transaction: ‘Troubling’, ‘Unconscionable’, ‘Unjustifiable and Unsupportable’, Says Court

February 18, 2014  |   Posted by :   |   Structured Settlements,Uncategorized   |   Comments Off on Proposed Structured Settlement Factoring Transaction: ‘Troubling’, ‘Unconscionable’, ‘Unjustifiable and Unsupportable’, Says Court

“Troubling.” “Unconscionable.” “Unjustifiable and unsupportable.” These are some of the terms used by a New York judge, in an opinion issued last month, to describe a proposed transfer of structured settlement payment rights. Justice Jeffrey Allen Spinner issued the opinion in the case of Matter of BofI Federal Bank v. Casey, Index No.: 2013-63262, 2014 […]

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Commentator Calls Wentworth IPO ‘Glimpse Into The Types Of Financial Structures That Existed Prior To The Collapse Of Lehman Brothers’

November 19, 2013  |   Posted by :   |   Annuities,Litigation Funding,Lottery,Structured Settlements,Uncategorized   |   Comments Off on Commentator Calls Wentworth IPO ‘Glimpse Into The Types Of Financial Structures That Existed Prior To The Collapse Of Lehman Brothers’

The initial public offering of JGWPT Holdings, Inc. – parent company of J.G. Wentworth and Peachtree Settlement Funding – was completed last week (as described here). But prior to the IPO, at least one commentator offered some criticism of the financial aspects of the deal. Writer Antoine Gara wrote for thestreet.com that “J.G. Wentworth’s IPO […]

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What Does Pension Factoring Business Have To Do With Credit Unions? Article Explains The Need To Offer Alternative Funding Sources

November 12, 2013  |   Posted by :   |   Uncategorized   |   Comments Off on What Does Pension Factoring Business Have To Do With Credit Unions? Article Explains The Need To Offer Alternative Funding Sources

Credit unions need to do more to find ways to provide more small loans, and to create alternatives for people who might turn to more predatory lenders, like those in the pension factoring field, says the author of an article that appeared in a recent Credit Union Journal. Jim Jerving authored an article entitled Why […]

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Pension Factoring Likened To Payday Loans ‘In Sheep’s Clothing’

October 30, 2013  |   Posted by :   |   Uncategorized   |   Comments Off on Pension Factoring Likened To Payday Loans ‘In Sheep’s Clothing’

Yet another story about pension advances, from earlier this year, began this way: “Pension advances, also called pension sales or pension buyouts, are also being called ‘pay day loans in sheep’s clothing’ and are the latest scam to hit retirees.” That’s from an article from moneynews.com.  The article, entitled “Pension Advances Nothing More than Payday […]

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Pension-Advance Companies? Beware, Says Article

October 30, 2013  |   Posted by :   |   Structured Settlements,Uncategorized   |   Comments Off on Pension-Advance Companies? Beware, Says Article

“[P]otential threats to older Americans’ financial security can come in the form of financial products that are risky, expensive, and inappropriate for thei needs.  For example, there are companies that target retirees who may need access to cash by offering them lump sum ‘advances’ on their pension payments.  These so-called advances are reported to carry […]

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