by Structured Settlement Watchdog
It has been 2 weeks since the SuttonPark Voice Greeting was changed for the first time in almost 3 weeks on December 16, 2024. The recording stated that payments due end of November through December 1 were being released by direct deposit (only for those on direct deposit) and to allow for up to 72 hours for the payments to post at your bank.
I recently spoke to a 75 year old Florida investor on direct deposit who had not received a payment for two months from SuttonPark. She depends on those payments. No meaningful discussion about payment servicing and what it is, why it is necessary, potential risks etc. Payment servicing needs to be thoroughly explained up front for both sellers and investors. Is there a back up servicer? This explanation should be part of the selling process.
The longer this goes on the worse it's going to be for those companies without an efficient servicing arm. Why would any investment adviser acting in good faith, want to put their client through this nonsense?
