by Structured Settlement Watchdog
In October 2015, Novation Settlement Solutions, a Florida-based company, engaged in a forum-shopped Florida structured settlement factoring transaction that financially exploited a young Black New Yorker, resulting in over $1.4 million in profit spread. The company appears to struggle with distinguishing questions from facts.
A Question of Facts
Novation Settlement Solutions published 10 Facts that Explain Structured Settlements in 2018. However instead of 10 facts there are 10 questions.
What is a Fact?
A fact is an event, occurrence or state of affairs known to have happened; to be distinguished from opinion or law. Facts can however be found proven in legal proceedings where they may or may not have actually happened. Facts may also be inferred from other facts -Legal Dictionary
What is a Question?
A question is an utterance which typically functions as a request for information, which is expected to be provided in the form of an answer- Wikipedia
What Novation Settlement Funding misrepresents as “facts that explain structured settlements”
- What is a structured settlement and how does it work?
- Who is responsible for making the ongoing settlement payments?
- Why would I want to sell my structured settlement payments?
- How much will I receive for my future payments?
- Why is court approval necessary?
- Do I have to pay taxes on the proceeds from the transaction?
- Can I sell just some of my structured settlement payments or do I have to sell them all?
- How long does it take?
- Will I be punished by my insurance company for selling my structured payments? What if my agreement states that this type of transaction is not allowed?
- How old do you have to be to sell some or all of your structured settlement?
Given that 80% of the Novation Settlement Solutions’ questions (“facts”) have nothing to do with explaining structured settlements and the answers to the other 20% are so poor and wanting, the Novation Settlement Solutions agenda is like someone out on a date who feigns sincerity and interest but has a poorly disguised ulterior motive to ” go all the way” with your structured settlement for pennies on the dollar