by Structured Settlement Watchdog
SuttonPark Capital has sent a letter to court-ordered assignees putting them on notice that it is in the process of closing its Servicing Department
The following is the text of the letter from Steven J. Pasko to court-ordered assignees (a link to a copy follows):
“Regrettably, this letter is to serve notice that SuttonPark Structured Settlement LLC is in 
the process of closing its Servicing Department. Currently, the exact date of the department closure is not known. The secured lockboxes in Philadelphia, PA will no longer receive checks effective April 15th. This could affect your asset(s) with delays.
the process of closing its Servicing Department. Currently, the exact date of the department closure is not known. The secured lockboxes in Philadelphia, PA will no longer receive checks effective April 15th. This could affect your asset(s) with delays. As the court-ordered assignee, you have the right and/or responsibility to secure your asset(s). It is recommended that you send a change of address to the annuity issuer as soon as possible. Remember to update both the check mailing and correspondence addresses of your assigned payments.
The Redirection Team are on hand to lend some assistance in facilitating these address changes, however, please keep in mind this department is still understaffed, and has daily responsibilities.
If you have any questions, please feel free to reach out via email: redirection@suttonpark.com
Sincerely, Steven J. Pasko
Note: Steven J. Pasko is not the Steve Pasko that resigned in May 2024, along with Josh Wander. See Steve J. Pasko – SuttonPark Capital
What does this mean if you are a structured settlement payee, affected by the SuttonPark Nightmare and continuing to experience delays?
If you have not received notification that payments are being serviced by another entity other than SuttonPark (e.g. DRB Capital LLC, Vervent Servicing), contact the court-ordered assignee named on your structured settlement transfer documents. Make sure that they are aware of the April 15, 2025 deadline and keep following up until you get written confirmation of the change of servicer. Don’t delay!