by Structured Settlement Watchdog
Keep Your Settlement Confidential
One important rule when receiving a settlement is to stay quiet. You could be legally bound to keep settlement details private, so trust your instincts, resist temptation and safeguard yourself and those you care about.
If you’re not convinced, you may be after reading this story.
The Stamford Advocate, hometown newspaper of the Structured Settlement Watchdog, reports that a plaintiff’s loose lips apparently led to the barrel of a gun stuffed in his mouth and being beaten as three masked gunmen invaded his home in the middle of the night and fled with a “substantial” amount of cash.
According to the April 19, 2011 story in the Stamford Advocate ” Stamford police Capt. Richard Conklin said the victim had recently been awarded an undisclosed amount of money after winning a civil lawsuit. Conklin said the victim told police that he had mentioned his settlement to friends and associates and word got around that he had kept some of his settlement in the house. (emphasis added)
The purported statistic is that 90% of tort victims blow their awards within 5 years. The anecdotal evidence supporting the alleged statistic, clearly takes a shift on this news.
Rule #1 Don’t Talk About Your Settlement!
If you receive a settlement, keep it private and share the details only with those who truly need to know. You likely endured pain, the loss of a loved one, or the loss of your livelihood to obtain it, making it a deeply personal matter. Also, avoid keeping large amounts of cash at home, especially in today’s economic climate.
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