by Structured Settlement Watchdog
Forgive me for tweaking a quote from Alexander Pope’s aptly named An Essay on Criticism to dive into today’s rant about Imperial Structured Settlements, LLC. Beyond the sultry photo and flattering words of its Senior VP Deborah Benaim, much is technically off from a structured settlement perspective:
Imperial Structured Settlements, LLC False Statement #1
Michael was severely burnt as a young adult during a work related injury and was awarded a very large structured settlement.
You can’t be awarded a structured settlement. A structured settlement is a compromise not an award.
Imperial Structured Settlements, LLC False Statement #2
Several years ago, Julie suffered minor injuries in an auto accident. She was awarded a structured settlement.
You can’t be awarded a structured settlement. A structured settlement is a compromise not an award.
Imperial Structured Settlements, LLC False Statement #3
We have pioneered the field, revolutionizing the way the structured settlement process takes place
Take my word for it, Imperial is NOT involved in any of the steps in “the structured settlement process“. Imperial Structured Settlements, LLC is NOT a “pioneer in the field” of structured settlements.
Imperial Structured Settlements, LLC Dubious Statement #1
We are members of the National Association of Settlement Purchasers (NASP), the trade association that determines best practices and provides strength and credibility to the industry.
With few exceptions the structured settlement factoring industry suffers a huge credibility problem from a truth in advertising standpoint and wonders why it is vilified.
Marketing Hype #1
Get the money now that rightfully belongs to you.
Why what Imperial says is total rubbish
When you accepted a structured settlement you agreed to release the defendant in exchange for the right to receive a series of payments over time (in lieu of receiving a lump sum of cash) the total of which may far exceed the lump sum payment being used to fund them. Some of those payments include interest that might otherwise be taxable if you had simply taken the lump sum and invested it. In order to get the tax exclusion you could not take possession of a the lump sum used to fund your structured settlement payments. Imperial gives you cash in exchange for all or part of the rights to receive the future payments. You have the right to receive the payments in the future. You don’t have the right to receive money now if you have already agreed to a structured settlement. You have the option to receive money from a factoring company like Imperial, IF you agree to the discounted amount of cash that Imperial is willing to give you AND IF a court approves the transfer as being in your best interest and that of your family .
“Cash now pusher” Imperial leads you on because you can’t even get money now. Depending on which Imperial statement you believe it could be 2-3 weeks or 45 days, or who knows?
Perhaps one of these days, the majority of the members of the National Association of Settlement Purchasers (NASP), the trade association that determines best practices and provides strength and “credibility” to the industry will actually live up to what they promise.
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