by Structured Settlement Watchdog
Paid to post shill for Prosperity Partners, Brit Julie-Ann Amos, states in Structured Settlements in Georgia:
"It’s real easy to reach for the plastic when you don’t have the cash to pay for things. The problem with that is that your credit card debt piles up as well as an exorbitant amount of interest. And, let’s not even mention those late fees. But, if you own a structured settlement, you don’t necessarily have to keep relying on the plastic to make ends meet"
Amos suggests that you tap your structured settlement by selling structured settlement payment rights to "pay for things".
No one seems to ask how the person ended up in this financial mess. Compulsive spending is like the drunk uncle of addictions—it’s hard to stop. You wouldn’t hand a bottle to an alcoholic out of love, so why hand over a credit card to a shopaholic? For pennies on the dollar. Madness!
Without a well reasoned plan that includes education on how the person got there, a recognition of the reason and a plan to mitigate the risk of a recurrence, one is just throwing gasoline on the fire which could have disastrous consequences.There is a reason that credit cards have limits. The only thing standing between the recipient and cash now is a single person, the judge.
While not pointing fingers at Prosperity Partners, some factoring companies use crafty "why wait?" sales pitches that whisper, "Patience is overrated, and so is your wallet!", luring consumers with shiny financial or "in-kind" rewards, only to leave their long-term financial stability wobbling like a house of cards.
Ms. Amos, who is not by any means an expert on structured settlements, was the subject of our post "The Truth About Julie Ann Amos" last month. Further evidence is her contribution to financial illiteracy by referring to a cash now pusher as a structured settlement company…NOT TRUE!
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