The Structured Settlement Authority makes the Structured Settlement Advertising Wall of Shame this week and I don’t think it will be for the last time. Supposedly it is a source for “important new information”. Frankly the content is not fresh and more inaccurate than splog but there are the ubiquitous Google AdSense ads. There’s nothing wrong with paying for good advice but having exposed this blog for the second time in a week, it may justify your avoiding the pay per click ads as motivation for the owners of the site to put up better and more accurate content that is useful to consumers. Considering the owners make a commission each time click you are in essence tipping them for the value of information on their site. The owner(s) of Structured Settlement Authority have decided to remain anonymous according to the Whois records. Like getting bad service in a restaurant you don’t have to tip or tip as much. Moreover if you don’t stop in the restaurant, it can’t thrive. It must do something to improve its quality or it dies. Let’s consider why the Structured Settlement Authority makes the Wall of Shame. Here’s one of its postings of allegedly "important new information"
Selling Structured Settlements – Change Your Life and Financial Future
1. Structured Settlement Authority Asserts: Structured settlement payments are a wonderful opportunity to get the money you need and begin shaping your future.
Fact: If you have a structured settlement and receiving structured settlement payments you have already shaped your future.
2. Structured Settlement Authority Asserts: A structured settlement, or annuity, is normally the result of damages being awarded to an individual that is party to a lawsuit. The defendant in the lawsuit will be required to purchase an annuity from a life insurance company who will them make structured payments over a future period of time to the injured party.
Fact: Structured settlements are only about an award of damages if there has been a verdict rendered by a jury or a judge and the case subsequently settles with the parties having compromised their positions. In New York Articles 50A and 50B of the CPLR require structured annuities be purchased to fund a certain portion of future damages liability in a structured judgment. In that case there is no structured settlement it is a structured judgment! The Structured Settlement Authority also incorrectly asserts that the defendant in the lawsuit will be required to purchase an annuity from a life insurance company. The fact is that the defendant is not required to do so unless a Court Orders it to. Most structured settlements are the result of a compromise between the parties.
3. Structured Settlement Authority Asserts: These small settlement payments may not be enough to meet your needs and accomplish your financial goals.
Fact: It’s a case of simple math. Small amount structured yield small structured settlement payments just as a small cash amount placed in a bank account will yield small amounts of interest. Speaking on the other side of its mouth, in a different post, Structured Settlement Authority correctly asserts that structured settlements are an alternative to a large cash settlement . In the case its a classic "mini-max sales pitch". Minimize the structure and maximize the perception of the size of the lump sum (even if it is deeply discounted). In other words " why have something small when you can have something big?"
4. Structured Settlement Authority Asserts: You can choose to sell your annuity payments and receive a large amount of money in a short period of time.
Fact: "Short period of time" is relative and the truth is likely longer than a consumer perceives.. Much is made of quick cash, cash now or immediate cash in advertising by factoring or transfer companies. Unless you wish to have a 40% excise tax levied on the sale of your payment rights you will need to get Court approval before selling your structured settlement payment rights.
Fact: Selling your payment rights comes at a deep discount. No mention of it this flawed post.
Fact: Its ironic that in another post that a structured settlement is seen as an alternative to a large cash settlement.. Further you cannot sell your annuity payments you can sell your payment rights
Structured Settlement Authority suggests uses for the money that you get from the deeply discounted cash you receive. It tantalizes you with uses of funds but falls short on the consequences of the actions it recommends. If you consider the course of action that Structured Settlement Authority recommends then you must be sure to weight the long term consequences of your actions.
1. Structured Settlement Authority Asserts: Structured settlement payments are a wonderful opportunity to get the money you need and begin shaping your future.
Fact: If you have a structured settlement and receiving structured settlement payments you have already shaped your future.
2. Structured Settlement Authority Asserts: A structured settlement, or annuity, is normally the result of damages being awarded to an individual that is party to a lawsuit. The defendant in the lawsuit will be required to purchase an annuity from a life insurance company who will them make structured payments over a future period of time to the injured party.
Fact: Structured settlements are only about an award of damages if there has been a verdict rendered by a jury or a judge and the case subsequently settles with the parties having compromised their positions. In New York Articles 50A and 50B of the CPLR require structured annuities be purchased to fund a certain portion of future damages liability in a structured judgment. In that case there is no structured settlement it is a structured judgment! The Structured Settlement Authority also incorrectly asserts that the defendant in the lawsuit will be required to purchase an annuity from a life insurance company. The fact is that the defendant is not required to do so unless a Court Orders it to. Most structured settlements are the result of a compromise between the parties.
3. Structured Settlement Authority Asserts: These small settlement payments may not be enough to meet your needs and accomplish your financial goals.
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