by Structured Settlement Watchdog
Court scraping is the scourge of the structured settlement secondary market. The minute you file a petition to sell/transfer structured settlement payments for a lump sum of cash, expect hundreds of calls from cash now pushers. Proponents believe that it is good for consumers because it drives prices down. Detractors include annuitants and their families who are harassed and not left alone. Others are big companies like Peachtree Settlement Funding a division of JG Wentworth which "finds its clients through search and advertising methods and offers to buy their structured settlements for a lump sum". Peachtree alleges that Rapid Settlements (now RSL) peruses court filings to intercept and "poach" its clients by providing a more generous offer before the court can approve the arrangement with Peachtree
According to Judge Jolly, the third-party complaint alleges that Peachtree and J.G. Wentworth conspired to artificially depress prices in the structured settlement (secondary) market. Squawking to the 5th Circuit didn't amount to Peach pittance as the court dismissed for lack of jurisdiction