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In Calling For Ban on Settlement Factoring Transactions by Lead Poisoning Victims, Law Professor Says Current Laws Are Inadequate

In Calling For Ban on Settlement Factoring Transactions by Lead Poisoning Victims, Law Professor Says Current Laws Are Inadequate

Current laws regarding the sale of structured settlement payment rights are inadequate to protect lead-poisoning victims. So says law school Professor Karen Syma Czapanskiy in her recent article, “Structured Settlement Sales and Lead-Poisoned Sellers: Just Say No”, in the Virginia Environmental Law Journal (36 Va. Envtl. L. J. 1). The University of Maryland School of Law professor argues that sales of structured settlement payment rights by lead poisoning victims should be banned. Professor Czapanskiy offered a number of criticisms of…

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Tennessee Revises Structured Settlement Protection Act

Tennessee Revises Structured Settlement Protection Act

The Tennessee Structured Settlement Protection Act, one of forty-nine state statutes that provides that a secondary market transaction involving structured settlement payment rights is ineffective unless it receives court approval and meets other statutory standards, has now been revised to add additional protections. The new statute, signed into law earlier this month, is the latest state law – following revisions in the past year in Illinois, Florida, and elsewhere – to add protections against forum shopping by factoring companies, and require the reviewing…

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

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 working the way it should to catch ‘bad actors.”  One lawmaker was quoted as saying, “Obviously the current system’s not working”. The Virginia SSPA is…

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Washington, D.C., Could Move To Forefront of Jurisdictions With Strong Structured Settlement Protection Laws, Say Legal Aid Attorneys

Washington, D.C., Could Move To Forefront of Jurisdictions With Strong Structured Settlement Protection Laws, Say Legal Aid Attorneys

An editorial in the Washington Post by Legal Aid Society attorney Heather Latino and Thomas Payson pointed out that the District of Columbia is without a structured settlement protection act (SSPA), but that D.C. Council members are considering a proposal “that would put the District in the forefront of jurisdictions with strong laws.” The editorial cited that Washington Post’s recent article that “revealed, using lead-poisoning cases in Baltimore as an example, that unsophisticated people with structured settlements are being victimized…

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Baltimore Sun Calls For Two Changes To Maryland Settlement Protection Law: Eliminating Forum Shopping, and Requiring Payees Appear in Court

Baltimore Sun Calls For Two Changes To Maryland Settlement Protection Law: Eliminating Forum Shopping, and Requiring Payees Appear in Court

Following the Washington Post’s reporting on the structured settlement factoring business, the Baltimore Sun, in an editorial, called for changes to Maryland’s Structured Settlement Protection Act (SSPA). In particular, the Sun said “two reforms to Maryland’s law could help” prevent vulnerable people from being taken advantage of: (1) requiring that SSPA petitions be filed in the jurisdiction where the payee lives, and (2) requiring that payees be required to appear in court when the court is considering whether to approve a…

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