by Structured Settlement Watchdog
Why is Court Approval Required in a sale of structured settlement payment rights for cash now?
Awakened from a dream in which Annuity.org had adopted proper source citations aligned with their newly established editorial standards, Ronnie Zelek’s underwhelming team of researchers has returned. Catherine Byerly remains the “bête noire” for mistakenly conflating the “Federal [sic] Periodic Payment Settlement Act of 1982” (PPSA) with the Victims of Terrorism Tax Relief Act of 2001, IRC 5891, and structured settlement protection. Byerly erroneously claims that the 1982 Periodic Payment Settlement Act mandates court approval for “the sale process.” [source Annuity.org website, see below]
Unrelated Acts | How did Annuity.org publish a flub of Fundamental Knowledge about its own business?
Not only does the PPSA not have anything to do with factoring, but what factoring regulation has existed since 2002, has nothing (except in Maryland) to do with the sales process. That’s what enables lead pimps like Annuity.org to turn out BS about structured settlements faqs for Sutton Park Steve Pasko’s bauble, CBC Settlement Funding.
Mandate Schmandrate
Mandated court approval is effective only when judges take their responsibilities seriously. Retired Judge Dean Sword approved 8 out of 11 transactions in less than two years for an unemployed African American man with a four-year-old child, who had been financially secure following a childhood burn injury settlement.. Other judges dockets wee so full that they had inadequate time to properly consider best interest or any interest before making a life impacting decision. Mostly African American lead paint victims in Baltimore were all herded into another county by an Access Funding lawyer who later took bribes as a liquor commissioner. where a corrupt judge heard their cases as they were scammed. A 21 year old African American New Yorker was forum shopped into Florida where he became a victim of 365 Advance/Novation Funding who shafted him for close to $1.5 million.
