After almost 90 minutes on the phone yesterday, the guardian of a claimant, who found me through the Internet, expressed her gratitude that she was able to finally reach someone who could help her after spending a great deal of time attempting to reaching someone to discuss structured settlements. She indicated that those that she did reach before me either didn’t want to or mostly were incapable of helping her.
This underscores the need for regulators to step in and do something about enforcement of truth in advertising law related to insurance products, namely structured settlements. Why should a consumer have to use the Internet equivalent of a machete to hack through the weeds while running the gauntlet of web advertising that leads to call centers for factoring companies that effectively misrepresent what it is that they do? The following are examples of terms are being violated (via organic ads or sponsored-pay per click ads) by certain factoring companies. Consumers (including the elderly) are suffering as a result.
- Structured Settlement Information
- Structured Settlement Quote
- Free Structured Settlement Quote
- Structured Settlement Annuity
- Structured Settlement Annuities
- Structured Settlement Company
- Structured Settlement Companies
- Structured Settlement Broker
- Structured Settlement Brokers
- Structured Settlement Consultant
- Structured Settlement Planning
- Settlement Annuity Broker
- Settlement Structured
Unregulated factoring companies, that purchase structured settlement payment rights at a large discount, are clearly different from regulated insurance companies, licensed agents, licensed brokers and consultants who create structured settlements. Some factoring companies could be operating in a far more ethical manner. The abusive advertisers are bringing on heavy regulation themselves by abusing consumers. Such abuse should not be tolerated by lawyers, senators, congresspeople, judges and consumer advocates.
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