by Structured Settlement Watchdog®
My crusade against the advertising and business practices of certain factoring companies (particularly on the Internet) has continued for over 9 months. A positive result is that a dialog has begun, with a number of factoring companies who have a sincere interest in distancing themselves from their "black hat" competitors. Other companies such as Settlement Capital and Prosperity Partners have differentiated themselves and continue to make positive steps to educate consumers in a non confusing way.
In my January 3, 2006 post "Courts Recognize that Structured Settlement Brokers Must be Licensed" I highlighted the confusion created by factoring companies and sploggers using the term "structured settlement broker" among other things. I also pointed out that Courts in Bronx County New York even recognize such a licensing requirement in their guidelines (see blog post for details).
While most of the factoring companies with whom I have a dialog understand the problem and seem to be willing to work towards a constructive solution, apparently Peachtree Settlement Funding employs the type of person who really is the root of the problem. Given the opportunity to be a shining example of what Peachtree advertises as "an unparalleled level of professionalism". Instead of being a mantle of the company's alleged "strength", Stephan the spammer, direct from the Peachtree server, fails to walk a "straight line", miserably failing the "sobriety test". He simply replies to the story ( more than 7 months later!), with an ad for Peachtree. Download moronic_link_from_peachtree_8212006.pdf
As I have previously written as well as in a recent post licensing and regulation is essential to clean up the practices of certain factoring companies and sploggers and offer more protection to consumers before they get to a Court review of their factoring transaction.
Peachtree is one of those factoring companies which uses the "trickle down" approach. This is where they (and others) attempt to "separate" people from the sensible stability of their weekly, monthly, quarterly, semi-annual or annual structured settlement payments through the payment of a single deeply discounted lump sum payment.
It's within people's rights to sell their "payment rights", but it's not the promised land of waterfront homes and "fanned out" bills of cash (like a fanned out deck of cards at the casino) as suggested in the window panes of Peachtree's new pages.
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