Is it nice to see that some members of the structured settlement secondary market step up to the plate and take a swing at some of the bad actors and bogus marketing that is impacting the credibility of the secondary market. 123 Lump Sum cautions "Don't Get Fooled by Structured Settlement Scams".
The Ft Lauderdale, Florida based firm says:
"Unfortunately, there are many sham structured settlement buyers on the scene. A quick web search may bring you to dozens of sites that are merely fronts for marketing companies who want to collect your personal information and sell it to others. How do you tell the legitimate companies from the scams?"
The suggestions made by 123 Lump Sum:
- Check and see if the website lists an actual physical address for the company. If there is a physical office location, there is less chance you are dealing with a scammer.
- Look for information on how long the company has been in business. Generally, if the website is fairly recent, you are dealing with a sham company. If you call the company, don’t be afraid to ask how many years they have been in business or how many years of experience the employees have. You can also check the Secretary of State website in the state the business was formed to verify the company’s history.
- Finally, verify the company has a privacy policy that stipulates what they will and will not do with your personal information. If they do have such a policy, read it, and make sure you are comfortable with the language it contains. If they do not have a privacy policy, it is a sure sig
n of a scam.
Thank you Michael and Andrew. It's about time other members of the National Association of Settlement Purchasers got out in front of an effort to vanquish the market of its bad actors.
The "bone" has been passed!
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