by Structured Settlement Watchdog
Sokolove Law, LLC of Wellesley, MA , a plaintiff law firm, bills itself as "the nation’s largest marketer of legal services that help people obtain access to the civil justice system while ensuring they receive superior quality legal representation
"With over 30 years of service, Sokolove Law has helped thousands of injured parties obtain the compensation they deserve from their legal claim such as mesothelioma, cerebral palsy, nursing home abuse, dangerous drugs, disability insurance denial, and medical malpractice cases".
Sookolove Blog Linked to a Factoring Company
The same day this blog was published Sokolove Law issued a press release in the same forum, concerning a "Cerebral Palsy Lawsut Leading to a $9M award", a blog post appears on the Sokolove Law PR Blog page and twitter feed called "Structured Settlement Sales For Rainy Day Funds" in which it appears that the firm is giving an apparent endorsement to factoring company CBC Settlement Funding along with links to CBCSettlementFundng.com, a company led by " The Skyrminator" William J. Skyrm, a J.G. Wentworth alumnus. The following key words correspond to 6 direct links go from the Sokolove Law page to the CBC Funding website:
- Structured Settlement Process
- Structured Settlement Buyer (twice)
- Cash Advance
- Structured Settlement Sale
- Legal requirements for one of these deals (structured settlement factoring transaction)
- Selling a Structured Settlement
The PR blog page states that Sokolove Law's "Social Media Pitch" is "Structured Settlement Sales For 'Rainy Day Funds' ". Is this the sign of (1) a new trend of plaintiff personal injury law firms promoting factoring; (2) just one of a few law firms engaged in promoting factoring of structured settlements; or (3) a lesson to be learned by other law firms (i.e don't just delegate your social media to third parties without proof reading what they are posting first). The PR blog for Sokolove Law lists Don Martelli of d50media.com as a contact in addition to the law firm. We also noted that on YouTube this video** produced by D50media is labeled CBC Sokolove and is pitching the factoring company CBC Funding. Hmmm
Selling a structured settlement is a legal business transaction. If you have the right to receive structured settlement payments you generally have the right to sell the rights to the payments. In most states there is a structured settlement protection act that governs how the transaction goes down. The acts however, do not cover the marketing and solicitation of individuals to sell.
Selling all or a portion of your structured settlement may be a VERY costly exercise.
**while we normally would not play an advertisement for a factoring company ad in this forum, we felt that the implication of this ad to the trial law profession is serious enough to warrant the attention.
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