by Structured Settlement Watchdog
The Rightway Funding ninnys sent me (yeah me!) an envelope marked “confidential information”, from ” Accounting Department”, marked to be opened only by the addressee. Unfortunately its contents were nothing that would arouse one enough to be shaken, or stirred. Inside was your run of the mill structured settlement cash advance hustle to structured settlement annuitants. “As the result of a lawsuit settlement, it says, you may qualify to receive this check now”, a check for $5012.00, a number that comes from the moon.
I neither have a business relationship with Right Way Funding, nor would I ever, therefore I have no legal duty to keep their bogus solicitation confidential. So I won’t. I am often amused at how embarrassingly lost on detail the marketing wonks for factoring companies can be.
The mailer from Rightway Funding, formerly known as BTG,( which I’ve sardonically parodied as “Badger, Torment and Grab (annuitants’ money)”) features what purports to be a crisp stacking of Benjamins locked up in a Right Way Funding branded “restraint” with a golden key in the key hole. This pratfall implies that Right Way Funding first locks up your money and then gives you a key to open it. Or you’re a jailbird locked up in Rightway’s jail and only they have the key.
Rightway Funding offer a road to indisputably losing money 100% of the time you do bsuiness with them
- If you sell any payments to Rightway Funding (or anyone else) you will always lose money. They suggest you can keep the sale proceeds (which you have lost money to receive) for an emergency fund. An emergency fund is best left in a fixed interest rate liquid account. Most likely taxable as opposed to the structured settlement payments which are income tax free if you are receiving payments due to physical injury, wrongful death, workers compensation or wrongful imprisonment.
- If you sell any payments to Rightway Funding (or anyone else), you will always lose money. They then suggest you could invest that money (pennies on dollar) that they will pay you. But you will be investing a smaller lump sum and it will take years just to break even. This is an important detail that many of these companies leave out.
The Rightway Funding scam is just one of the many marketing schemes in the structured settlement secondary market, where solicitation is an unregulated poo poo stew