by Structured Settlement Watchdog
What is a structured settlement agreement? asks Andrew, a purported author with a purported economic background and purportedly over 10 years of industry experience in a publication from a website called Wall Street Selector, which is registered to the Cohen Pagano Accountancy. in Los Angeles* that includes a contextual link to SSQ, that is in turn, associated with a certain company that operates out of Vancouver.
Andrew's answer is dreadfully uniformed and, in my opinion, is a disgrace to the accounting firm who the publication is associated with, not to mention the member of NASP which through its control of SSQ, utimately benefits from the link.
Wall Street Sector Selector
"Many of you reading this won’t know what a structured settlement quote is and what it entails. This article will aim to illuminate what it can offer you and why it can sometimes be the most logical thing to do with your cash plan".
Structured Settlement Watchdog
A shot of Pepcid should do the trick for the "acid reflux" caused by "mixing apples and oranges".
Wall Street Sector Selector
"Having access to a lump sum rather than incremental monthly payments can provide you with the freedom you have always desired with your money. It can open up so many more doors than receiving a set amount each month."
Structured Settlement Watchdog
Having a "steady pay check" opens doors to you too. Who's more attractive, a guy with a steady pay check or one with "shrinkage" (a shrinking pile of money)?
How many employers pay your salary in advance or guarantee it for an extended period of time, say 20 years, 30 years or the rest of your life?
Wall Street Sector Selector
"In the modern era many people have a “live for the moment” attitude and this level of cash can be perfect and will certainly help you adhere to this mindset".
Structured Settlement Watchdog
Generally "the modern era" began in approximately the 16th Century. In the 600 or so years in between then and now, there have been those that have lived for the moment and those that have given thought to the future and the future of their families, neighbors, countrymen, beliefs, rights and planned accordingly.
When it comes to money, does 'live for the moment" mean "kick the can down the road", like the City of Detroit and other municipalities have done with their pension liabilites, or as some have alleged the United States goverment is doing with its debt?
Does a suicide bomber "live in the moment" or is he (assuming for the sake of discussion it is a male) enticed into commiting murder by the purported "sales pitch" with the proverbial "virgins" that await? (i.e. planning for the future…in whatever form that may be)
Some sellers of structured settlements, who perhaps "lived in the moment", regret it later, Did Illinois resident, Cathy Brenston live in the moment when engaged in three structured settlement transfers over 2 years and then several years later commenced legal proceedings in an attempt to have the transfers voided?
Wall Street Sector Selector
"Having the access to your money early is one of the greatest benefits of a structured settlement quote. The basic idea of a settlement quote is that the claimant is offered a lump sum of money for a value less that the original amount".
Structured Settlement Watchdog
What a poor way for someone purportedly associated with, or reporting about the structured settlement factoring industry to explain their business.
We can debate this point "until the cows come home". A structured settlement quote represents the cost of a qualified funding asset (annuity or treasury obligations) that wlll fund a structured settlement, NOT the amount of cash that a willing investor would pay to a seller for the court approved transfer of his or her structured settlement payment rights in the secondary market. Those that provide annuiuty quotes must at least be licensed in the state of solicitation. Those that give "structured settlement quotes" as opposed to structured settlement quotes are not subject to much regulation at all.
Wall Street Sector Selector
"The lump amount can give the claimant the opportunity to help loved ones and friends. This is something many people dream about being able to do and having the access to a large amount of capital can provide them with the opportunity they have always wanted".
Structured Settlement Watchdog
Sadly some personal injury victims whittle down their settlements by excessive random gift giving to family, friends, or even hangers on. A structured settlement provides a certain amount of spendthrift protection. The opportunity that "Andrew" is suggesting is a dignity play being deployed as a marketing gimmick. It is important to remember that the sale of structured settlement payment rights is subject to court approval. Do you really think a judge is going to approve random gifts? If the "gifts" are to help out a friend the judge will be duty bound to assure that the sale (transfer) of structured settlement payment rights is in the best interest of the seller, and any applicable dependents of the seller.
Wall Street Sector Selector
"Having access to a large sum of money doesn’t necessarily mean there will be no opportunity to save; in fact it may even make it easier. The claimant can put away a large chunk of the money into a high interest bank account for a rainy day, this would have been much more difficult had the payments been incremental"
Structured Settlement Watchdog
Here is a link to to nationally available Jumbo CD rates at the time of publishing. Jumbo as $100,000 or more. These are fully taxable interest rates. A structured settlement provides tax free income at a higher rate assuming the payments represent damages for physical injury, physical sickness, wrongful death or workers compensation as set forth in IRC Section 104.
So is what "Andrew" suggesting, to sell your payments earning an income tax free rate for a discount and then putting some of discounted proceeds
This also goes back to living off your shrinking principal or living off a guaranteed income source, a "steady pay check".
Wall Street Sector Selector
"It really is a matter of personal preference however access to the full amount for a small loss has more benefits than problems. As long as the claimant seeks the correct advice and doesn’t let the money get the better of him/her then there is no problem in seeking a structured settlement agreement
Structured Settlement Watchdog
The "full amount" for a "small loss"? Not only does "Andrew" not make sense, but it is just plain dumb
Structured settlement social media road kill is enabled by members of the structured settlement factoring industry who purchase links or search engine optimization services and do not monitor what these services are doing. They do a tremendous disservice to the industry. How difficult is it to write something that is informed and articulate?
The beneficiary of the contextual link is not a stranger to being a beneficary of social media road kill, most notably the spam comments last year praising the company for unlikely events we documented, such as funding structured settlement factoring transactions for the comical impossibility of "the loss of left hands" or a mishap while riding a motor scooter sold only in India or Mexico or a tragedy that never occured at a zoo in the United States.
* Whois records
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