by Structured Settlement Watchdog
Well I have debriefed one of the NASP Las Vegas 2010 attendees about the rest of the NASP panel that Pete Vodola and I missed Friday after we left to catch flights home.
My source tells me that the members of NASP just want to see more structured settlements being written. Easy enough to understand…there needs to be a rainy season and some sunshine before “the harvest”.
Which brings me to my point about the relevance of Qualified Settlement Funds and an audience of factoring companies and intermediaries. Where is the link? (scroll for answer)
Given that the SSP and Co. have not been able to get a result on the single claimant QSF issue before Treasury and the IRS, what makes their “thought leaders” believe that NASP is a warm audience and that they have pull with the former?
Perhaps this can best be covered in a song (to the tune of the first two stanzas of “Battle Hymn of The Republic“
Mine eyes have seen Dick Risk as a QSF Trustee
Patrick Hindert and Dick-ie puffing chests so merrily
What the F*** has QSF got to do with NASP?
They keep On Marching On!
Glory Glory Non Se-quitur
Boring Boring Boring Non Se-quitur
Glory Glory Non Se-quitur
They Just Keep Droning On
The irony that the SSP was borne of a “civil” war within the structured settlement industry is not lost on this author.
What was the Qualified Settlement Fund Connection to Factoring?
ANSWERED
Two years after the NASP Meeting, a California settlement planner, submitted an affidavit supporting the establishment of a qualified settlement fund for the purpose of purchasing structured settlement receivables which were inaccurately positioned, under penalty of perjury, to a judge for the City and County of San Francisco, in 2012, as “no change in funding asset”
Despite that representation, structured settlement receivables are NOT annuities under California law and therefore there “IS a change in funding asset”
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