by Structured Settlement Watchdog
Six actionable items that help clean up sell structured settlement advertising fraud:
- Selling structured settlement advertising should include financial disclaimers that warn consumers that selling a structured settlement will result in a financial loss. Selling your structured settlement will result in a financial loss. It's not a question of may. It is irrefutable that selling your structured settlement will result in a financial loss 100% of the time.
- Selling structured settlement companies should not be advertising that they provide financial advice unless they and any representative dispensing such advice possess the appropriate licenses and/or professional credentials.
- It should be impermissible for a structured settlement factoring company to advertise that they can "discuss your options" when the only options they have involve are selling all or part of your structured settlement at pennies on the dollar. That is really not "discussing your options".
- All public facing websites soliciting the sale of structured settlement payment rights should be required to list their primary physical address where its employees and operations are located and telephone number. It should be impermissible to not list any address or to solely list a UPS store mailbox , a Regus office center or P.O. Box.
- The deceptive trade practice of structured settlement factoring companies to bait structured settlement annuitants with the illusion of a government agency to register your structured settlement and give up personal information should be illegal.
- The use of paid actors to make testimonials should be illegal unless they have actually sold their structured settlement payments to the advertiser and the transaction can be substantiated via court records. Paid testimonials should be noted as such in the advertising.
Structured Settlement Secondary Market Wall of Shame
Bogus "Agency" Name Who Was Behind It?
Department of Structured Settlement Affairs 123 Lump Sum ("you've been flagged to receive an audit")
National Structured Settlement Registry Seneca One Finance
National Settlement Registry Seneca One Finance (which registered structruedsettlement registry(dot)com in 2014
Settlement Union CBC Settlement Funding
Use of Paid Actors
Einstein Structured Settlements Ryan Blank/Richart Ruddie/JRR Funding
Sovereign Funding Group David Springer
Masquerading as Fake Employees to Make Company Seem Bigger
Sovereign Funding Group David Springer
Unlicensed advice
"Maximizing your settlement benefits" CIYA | Forensic evidence suggests commonality with Einstein/JRR Funding
"Maximizing your settlement" Novation Settlement Solutions
Using dubious investment projections Two Florida companies (ClientFirst and High Point Funding)