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What Steps Should Factoring Companies Take to Ensure Non-Contravention Of Court Orders?

What Steps Should Factoring Companies Take to Ensure Non-Contravention Of Court Orders?

Forty-nine states have structured settlement protection acts – laws that say that if a person who is entitled to receive future structured settlement payments wants to sell the right to those payments to a factoring company in exchange for a more immediate (but lower) payment, then the transaction is not legally effective unless a court approves the deal. These SSPAs generally provide that a court can approve a transaction only where the court can find that such a transaction is…

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