by Structured Settlement Watchdog®
If you are an annuitant receiving structured settlement payments and thinking about selling structured settlement payment rights, be wary about giving your personal details online to a factoring company, or potential buyer of your structured settlement payment rights, that:
(1) Has no privacy policy
(2) No telemarketing policy
(3) Is asking for extensive details, but the transmission but is NOT in a secure SSL session ( in a secure session you will see https://, instead of just http://, at the beginning of the web address in your browser.
Here is a sampling of the factoring companies who pay "cash now" for structured settlement payment rights, and how they rate in the above categories as of April 5, 2007
JG Wentworth
Extensive details, No HTTPS, No Posted Privacy Policy on Form page (now has one as of 4/11/07), You agree to allow them to share with affiliates. No telemarketing policy
Peachtree Settlement Funding
Requests only basic info, No https, posts privacy policy. No telemarketing policy
Novation Capital, LLC
Requests only basic info. no https, posts privacy policy AND telemarketing policy
Patriot Settlement Resources
Requests extensive details, no https, no posted privacy policy, no telemarketing policy
Prosperity Partners
Requests extensive details, no https, posts privacy, no telemarketing policy
Check to see if there are any Privacy Seals such as TrustE, where a company's privacy policy has gone through an independent review. The BBB Symbol of Online Reliability is useful, but should not conclusive. There are sites that have the BBB Symbol of Online Reliability that do not appear to be using secure forms!
Checking to see what security measures are in place is a precaution for ANY type of financial transaction. You have a right to know how any information you give will be treated and how you can seek redress if it isn't.
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