A structured settlement factoring intermediary that says it is annuity payment buyer and solicits money from accredited investors and financial institutions, has an address on its corporate website and Better Business Bureau submission with a fictitious suite number. There is a UPS Mail box store in the same building with a suite number that can be arrived at by juggling the fictitious suite number. Neither would give me any confidence as a potential investor. How about you?
When you consider this with the nascent and rampant use of offshore and anonymous domain registrations, a demonstrated knowledge of how to stay beyond the Hague Service Convention by some factoring entities, and you've got a very scary proposition. How do you trust dealing with merchants such as these whose activities are so shrouded in secrecy? Where is the accountability and transparency?
If you deal with a bank or trust company, you have regulations and accountability. If you deal with insurance companies, brokers or agents you have regulations, licensing and accountabilty. If you buy or sell stocks you have regulations, licensing and accountability.
- Where does the money come from to buy your structured settlements?
- Who are the people you are dealing with and why are they so concerned with hiding who or where they are? It would make me suspicious. How about you?
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