by Structured Settlement Watchdog
Annuity.org may be good at SEO, but for the reasons backed by the examples and anecdotes often cited in this blog, Annuity.org often comes up short on the facts
Fact checked my ass
CBC Settlement Funding shill Annuity.Org, published bogus information that was purportedly fact checked and financially by a PhD only last month. In "Why Is Court Approval Necessary?" Annuty.org writes:
"Before the industry was regulated, some factoring companies took advantage of people who were not informed of the nuances of selling their structured settlements. To prevent this from happening, the United States government passed several laws — such as the Federal Periodic Payment Settlement Act of 1982 —that mandate court approval for the sale process. mandating court approval ensures the sale is in the consumer’s best interest and a factoring company is not taking advantage of the person’s ignorance".
How do consumers save themselves from Annuity.org's ignorance?
Here are 5 ways that the Annuity.org and its "fact checkers" got it horribly wrong
- The Periodic Payment Settlement Act of 1982 says nothing about "the sale process".
- The relevant act for the company that Annuity.org is shilling for is the Victims of Terrorism Tax Relief Act of 2001 (VTTRA)
- The United States Government does not pass laws, Congress does.
- Congress, is part of the legislative branch of the United States government and is one of three branches of government The other branches are the Executive branch (the President, Vice-President and the Cabinet)) and the Judicial branch (Court system)
- Mandating court approval (as part of VTTRA and state structured settlement protection acts)is a guardrail but does not absolutely "ensure that the sale is in the consumer’s best interest and a factoring company is not taking advantage of the person’s ignorance".