by Structured Settlement Watchdog
MJ Settlements Inc. misleads investors by making the false claim that ” when an original structured settlement annuity is sold, either partially or in full, it then becomes known as a Secondary Market Structured Settlement Annuity
Just like that huh? In the immortal words of Carl Spackler, the groundskeeper at Bushwood Country Club “I have to laugh”. Who are the”known by”and are they credbile sources? Nope.
The original structured settlement annuity, which is a qualified funding asset, is never actually sold. You can’t sell what you don’t own.
Ipso facto, original structured settlement annuities don’t become anything else. Not even birds with arms. They retain their individual qualities and characteristics even if certain payment rights are transferred lawfully to an investor in accordance with state and federal law.
It’s a pity that the Coral Springs Florida company can’t properly articulate such a basic material fact about its own business, a fact that would be critical to investors in my opinion, especially vulnerable investors.
Why trust MJ Settlements when they say they offer investors ” the safety and guarantee of a high yield Secondary Market Structured Settlement Annuity”, when what MJ Settlements is selling is a receivable not an annuity, let alone a structured settlement annuity?
Another Goober from MJ Settlements’ LinkedIn
MJ Settlements Story “Sam turned to MJ Settlements and discovered the power of Secondary Market Structured Settlements”
- A purchase of structured settlement receivables is not equivalent to the purchase of a structured settlement, or an annuity.
- A purchase of structured settlement receivables is not equivalent to the purchase of an insurance product.
- The purchase of structured settlement receivables does not make you “a party to a suit or agreement or to the worker’s compensation claim or a person who has assumed the liability for such payments under a qualified assignment in accordance with (IRC) Section 130”.
IRC 5891 (c) (1) Structured settlement
The term “structured settlement” means an arrangement—