by Structured Settlement Watchdog
Structured Settlement Secondary Market’s Shameless Unregulated Promotion
One Florida structured settlement annuitant received 6 checks in the mail in the last month,
- each an inducement to sell their structured settlements (for what amounts to pennies on the dollar)
- every single one of them was from a member firm of the National Association of Settlement Purchasers (NASP).
- each was a check that they had to “call to activate”,
- one was listed as a structured settlement “rebate check”,
- another a “bonus” check, A ” bonus” that you qualify for by selling your future payments for what amounts to pennies on the dollar. Isn’t that a net subtraction?
- yet another a $10,000 FTAC (Fast track approval contract.
- targets the unsophisticated and uninformed with the distraction of ability to spend it on impulse buy trips to Las Vegas or Colorado.
“Jump in dee line” folks!
The National Association of Insurance Commissioners, insurance regulators and lawmakers in Congress and the 50 states will note the irony that there are laws on the books that prohibit rebating and limits on gifts when the structured settlement, life insurance or annuity is placed with the consumer, yet the same prohibition does not exist with the secondary market for the payment rights to the regulated products.
The teaser about selling your payments (for what amounts to pennies on the dollar) and use the heavily discounted amount to induce an irresponsible impulse buy.
Shake Shake Shake Do Da Hora
Hey its rebate time
Work Work Work Do Da Hora
Do Da Bonus All The Time