by Structured Settlement Watchdog
Don't take financial advice from people who are not licensed to provide such advice
There's no way to sugar coat the fact that had any structured settlement annuitant taken Roger Proctor's advice to sell their structured settlement in 2009, they would have lost thousands and thousands of dollars. Roger Proctor spent more than a year soliciting structured settlement annuitants to sell because rising interest rates were going to make them poorer. The inflation rate at present is 1.91% according to the latest release by Inflationdata.
Here's what the Proctor said on June 28, 2009:
"You may have heard in the media in recent weeks that interest rates have bottomed and are slowly creeping back up. I (Proctor)believe that this is the beginning of a new cycle of incremental increases in interest rates over the next few years. When interest rates go up, the present value of a person’s structured settlement goes down. This is a simple truth. As such, if you are considering selling your structured settlement, now is the time to get the best rate".
Here's Roger Proctor's urgent wolf call from March 26, 2010:
"WARNING AGAIN: If you are thinking of selling your structured settlement payments, do it NOW, before interest rate increases eat into the value of your future payments and make you poorer".
Millionaire with island home and multi million dollar condo
Mr. Proctor, based in Vancouver, has personally made hundreds of thousands or millions, from paying pennies on the dollar to American citizens with structured settlements. Upon information and belief he owns a home on an island and a multi million dollar condo at the Fairmont Pacific Rim complex in Vancouver, from where Genex Capital operates its business. Whether or not he/Genex pays pennies more than another company is irrelevant. His advice stunk. He has nothing in common with structured settlement annuitants.
Critique of the Financial Advice Dispensed by Genex Capital CEO July 31, 2009