by Structured Settlement Watchdog
Based on what appears on a factoring company website, the following 5 questions represent the extent of "delving for details" before "getting the (structured settlement factoring) transaction rolling".
GENERAL INFORMATION
Client Name: ________________________________________________
Address: ___________________________________________________
Phone Number: ____________ Best Time To Contact: _______________
1) Is Your Client Employed? YES NO
2) What Does Your Client Need the Funding For?
__________________________________________________________ __________________________________________________________
3) What Are the Exact Dates & Amounts of Each Payment?
___________/Month From: _____________ To: ________________
LUMP PAYMENTS
$: ____________________________ On: ________________________
$: ____________________________ On: ________________________
$: ____________________________ On: ________________________
$: ____________________________ On: ________________________
$: ____________________________ On: ________________________
(Start & End Date of Guaranteed Period: _________________________)
4) What Insurance Company Is Issuing the Checks to Your Client?
________________________________________________________________________________________________________________________________________________
5) Is Your Client Shopping For Other Quotes? YES NO
Additional Notes:
____________________________________________________________________________________
I'm quite confident that the aforementioned level of documentation in a financial adviser or lawyer's file would not even pass "the smell test" in terms of adequacy of effort to determining a client's needs, much less whether or not such structured settlement factoring transaction would be in their "best interest".
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