by Structured Settlement Watchdog
A number of SuttonPark victims dependent on checks to pay their monthly bills for life’s basic necessities may have incurred late fees as a direct result of SuttonPark payment delays
Some of the late fees were for mortgages, rent payments. The costs for some are in the hundreds of dollars per month.
For example:
What Should SuttonPark Victims Do About The Late Charges?
- Document any and all late fees incurred due to the SuttonPark payment servicing delays.
- Document all attempts that you made to reach SuttonPark from your phone and/or email records, including responses you received (if any)
It would be nice to see the National Association of Settlement Purchasers (NASP) step up and lead an effort to get legitimate late charges to be reimbursed
It might be good for public relations.
Many such firms, who made the choice to deal with SuttonPark, made a profit when they acquired structured settlement payment rights. A few hundred bucks a month may not seem like a lot, when it stretched over a few months, but to individuals who depend on timely payments it has had ramifications.
NASP’s self described mission is “to educate the public and other interested parties about the secondary market and to ensure its continued viability and ongoing integrity.
NASP and its members could do a better job of educating customers about payment servicing up-front and in writing.