by Structured Settlement Watchdog
Much has been written about alleged breaches of ethics on the creation side of the structured settlement business.
Having been in this business for a number of years I can tell you that, while not perfect, the business is nowhere near as dirty as some would have you believe. How much is real and how much is marketing rhetoric?
Some would have you believe that every broker introduced by the defense is paying, and every insurance company is receiving, kickbacks based on a percentage of commissions received. There even are have been rumors of brokers introduced by the plaintiff making such payments to plaintiff attorneys, or huge payments to state or national bar associations (purportedly in exchange for that association pushing its members to do business with the vendor making the large contribution).
What is a Structured Settlement Affidavit?
One of the ways I have addressed the perception is by using a structured settlement affidavit, See Structured Settlement Ethics | Why Structured Settlement Affidavit Matters
It is important to note that I am not legally obligated to provide a structured settlement affidavit to anyone, but I do so to all parties that I do not engage in such practices, to address any concerns about the process that others raised, and to provide transparency. I encourage co-brokers involved in a transaction with to execute the structured settlement affidavit, and most comply.
Insist on a structured settlement affidavit or Certificate of Reliability and Assurances (a similar form of assurance offered by another structured settlement broker).
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