by Structured Settlement Watchdog
In time for Oktoberfest, the word on the street is that the Society of Settlement Planners (SSP) has FINALLY decided to tell factoring companies to fly a kite!
. They should never have been there in the first place. In the opinion of this author, if this is true, it is a step in the right direction. The main proponent of the factoring in the industry trade associations, Patrick Hindert, faced defeat in a fight to save factoring companies from being axed.
Here is a sampling of "yesterday's action plan" from "Beyond Structured Settlements" blog stating what, in Hindert's opinion, was lacking in speaker presentations at the SSP Fall meeting that took place in Arizona this past weekend.
- "How factoring, from a dissipation perspective, impacts a settlement planner's financial and insurance product recommendations"
- "How does factoring (and the secondary insurance markets generally) impact settlement planning?"
- "Establish communication with other settlement planning associations – including NSSTA; NAELA; NAMSAP; NASP; ASNP; and SNA. Focus on shared issues and collaboration opportunities. "
- "2007 POMS – how are SSP and NSSTA tracking this issue? – specifically what new POMS sections are being proposed for annuities, structured settlements, assignment rights (i.e.more factoring!) and special needs trusts? "
Structured Settlements 4Real comment: What big eyes you have, what big teeth you have..also a bit like a sheep… STOP howling about factoring
AND, by the way, with all due respect to its members, the National Association of Settlement Purchasers* is NOT a settlement planning association.
*also known by the acronym NASP
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