by Structured Settlement Watchdog
SuttonPark Payment Servicing Nightmare Left Many with Unreliable Payments that were supposed to be Reliable
Over the years the Structured Settlement Watchdog has posted warnings that acquired structured settlement payment rights (structured settlement receivables) are not annuities and do not have the same protections as annuities in the event of insolvency.
If you have invested in a portion of someone else’s structured settlement, there is a high likelihood that your investment is subject to a payment servicing arrangement
If this payment servicing is managed by SuttonPark, based in Boca Raton and a subsidiary of Miami-based 777Partners, you may be encountering severe payment delays. These delays, which I have been discussing on this blog for the past 6-7 months, have seen a significant increase since mid-November 2024. The lack of information provided by SuttonPark is unacceptable and outrageous. The Structured Settlement Watchdog first raised questions about what would happen in the event of bankruptcy of a structured settlement payment servicing company 15 years ago in 2009.
I am now researching the demographics of investors who invested in the structured settlement receivables that were sold to the investors as annuities (e.g. secondary market annuities, inforce annuties) in the approach by financial planners (including settlement planners) that have encountered the SuttonPark Nightmare Payment Servicing Delays. I want to know your stories.
Investors could be retirees, business owners through their pension plans sold by financial advisers, as well as former plaintiffs who were recommended such investments by their settlement advisers and attorneys who may have been recommended the investments on their behalf in support of petitions on behalf of minors to State Court judges.
Urgent Need to Raise Awareness About Payment Servicing of Strutured Settlement Receivables and to Enhance Required Disclosures at Time of Sale
This research is crucial to raise awareness of the inherent risks in payment servicing that many SuttonPark victims may not have been fully aware. The research also aims to promote the creation and/or improvement of disclosures to partial sellers of structured settlement payment rights the disclosures made to underserved investors in structured settlements.
Someone? Anyone?
Believe it or not, I have spoken to investors who purchased between 2010 and 2012, and they are unable to get a return call from the individual responsible for their predicament—who is still alive!