by John Darer CLU ChFC MSSC RSP CLTC
Structured Settlement Annuity Buyer is a gross misrepresentation used by some structured settlement factoring companies in their solicitation of US citizens and may come up in online search results
Structured settlement factoring companies are the ones that offer to pay you cash in exchange for the transfer of some or all of your structured settlement payment rights to them.
The actual annuity is not transferred to a structured settlement factoring company when they buy payments from the structured settlement annuitant
Even after the structured settlement factoring company has performed its obligations under the contract with the seller of structured settlement payment rights, the structured settlement annuity is still owned by the qualified assignment company, just as it waas before the sale took place, or, in rare circumstances, the original Defendant or the Defendant’s insurer.
The usage of the term Structured Settlement Annuity Buyer is thus misleading when used by a structured settlement factoring company, or settlement purchaser, unless such entities are operating in the context of a qualified assignment company, non qualified assignment company, Defendant or Insurer and such purchase is being used to fund periodic payments for damages
This author is not aware of any structured settlement factoring companies that are operating in such capacity as a qualified assignment company, non qualified assignment company, Defendant or Insurer and such purchase is being used to fund periodic payments for damages
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