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Structured Settlement Websites Most Popular March 2009
2009-03-25 03:08:00
Three Month Trailing Top 10 Traffic Rank (Alexa Rank as of 03/24/2009) of Structured Settlement and Settlement Planning Industry websites* (+ or- traffic from 02/25/2009 report). Lower number means more traffic (e.g. Yahoo.com is ranked 1 in the overall scheme) Who Are Ya? Structured Settlements 4Real Blog (John Darer) 928,622- Beyond Structured Settlements Blog (Pat Hindert) 1,213,367- Structured Settlement Services 2,728,156+ 4structures.com, LLC 2,944,536+ National Structured Settlement Trade Association (NSSTA) 3,443,861+ Ringler Associates, Inc. 4,055,691+ Millennium Settlements 5,428,562+ EPS Settlements Group 5,472,604+ The James Street Group 5,751,302-- Settlement Professionals 5,848,585+  *Daniel Alvarez, JD, from Delta Settlements, who contributes to a Settlement Blog at Claris.com and HIgh Impact Structures, LLC have been omitted from the search results as their ISPs do not differentiate between them and the ISP i...
More About: Websites , Popular , March

Puffing Professional Credentials Is Not Cool in Houston or anywhere
2009-03-24 03:40:00
On January 3, 2009 I posted Truth In Structured Settlement Advertising, SSP is Not a Professional Designation, after discovering that a veteran member of the profession was holding a trade association that he/she was not on record as being a member of as a professional designation on a company website. Two and one half months later Michelle Pardue of Settlement Professionals, Inc. Houston , Texas office, is still listed on the Settlement Professionals website as Michelle Pardue, CSSC SSP. She also continues to list herself as a member of the Society of Settlement Planners and displays the logo under her profile. THEN Download Pardue bio Settlement Professionals In.. NOW Download Pardue bio Settlement Professionals In.. 3-23-2009 As of March 23, 2009, Ms Pardue is not listed as a member of the Society of Settlement Planners   Download Pardue look up Ssp As of March 23, 2009 SSP IS NOT a professional designation, accredited or otherwise. That Ms. Pardue apparently us...
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Stone Street Capital Mascot Resembles Which Teletubby? CAST NOW!
2009-03-23 16:39:00
Showing its sensitive side Cash Now Pusher Stone Street Capital says: "Some people are critical of annuitants who choose to solve their financial problems by selling some of their structured settlement payments.  This criticism is unfair; we should admire those who recognize that they need help with their financial situations, and are responsible enough to realize it’s time to ask for help instead of keeping creditors in limbo and continuing to get into more and more debt.  The secondary market’s goal is to tailor each transaction to the annuitant’s specific needs and, in turn, put them into a better financial situation when their transaction is completed".Generally the criticism is of the cash now pushers not the annuitants. Meanwhile a playful diversion. First check out Stone Street Capital's web site and take at look at it's goofy Blue "Cash Cow". THEN watch this video and CAST NOW in comments on which Teletubby the Stone Street Capital cow's face remind...
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What is A Qualified Assignment?
2009-03-23 15:34:00
An assignment of obligation to make future periodic payments which satisfies the requirements of Internal Revenue Code (IRC) § 130. In a structured settlement agreement the original obligor (the defendant, insurance carrier for the defendant, or the trustee of a qualified settlement fund, assigns its obligation to make the future periodic payments called for in the settlement agreement to a "qualified assignee". Generally a qualified assignment company is a special purpose company, which does little more than hold an annuity as a qualified funding asset to back up the obligations it assumes from Defendants, Insurers or qualified settlement fund trustees. A qualified assignment company may actually be an insurance company itself. The qualified assignment company is usually related to the life insurance company issuing the structured settlement annuity. The qualified assignment company typically purchases an annuity from the related life insurance company as a qualified fun...

AIG-"Making Informed Decisions Is More Important Than Ever"-NAIC Chief, PA
2009-03-22 20:02:00
In the face of continuing media and consumer confusion regarding American International Group, Inc. (AIG) and the role of state insurance regulators, the National Association of Insurance Commissioners (NAIC) has moved to correct the misinformation and in a published statement urges caution and a close examination of the facts.The following news release was published by the NAIC on  March 19, 2009 (underlines for emphasis) “In uncertain times, making correctly informed financial decisions is more important than ever,” said NAIC Chief Executive Therese M. (Terri) Vaughan, Ph.D. “This is especially true for AIG’s policyholders, where unsubstantiated information and misstatements in the media have led to unnecessary consumer frustration and fear.” First and foremost, AIG is typically described as the world’s largest insurance company. In fact, it is a global financial services conglomerate that does business in 130 countries. AIG owns 176 other compani...
More About: Decisions

Do Annuity Issuers Really Give a Crap About Plaintiffs?
2009-03-21 01:44:00
I am going to go out on a limb with this one because I, for one, want to know how many structured annuity issuers really give a crap about plaintiffs? One can read the brochures, look at the web sites and the marketing hype, but... Are you angry at me for posing this seemingly outrageous question yet friends? GOOD.The Halpern Group,  an undisputed friend of plaintiffs, has strong anti-assignment language in the qualified assignment agreements for its United States Treasury Bond Structured Settlement Trust. The company has recently been endorsed by the American Association for Justice whereas no structured annuity issuer or intermediary has. My sources tell me that cash now pusher companies such as J.G. Wentworth have tried but now hardly bother going after Halpern clients because they're going to be shut down by the Halpern anti-assignment language. Halpern Group anti assignment language is available to resourceful members of the structured settlement industry, including structure...
More About: Crap , Give , Annuity

The T'SNOT Heard 'Round the World
2009-03-20 23:15:00
Yet another factoring company has tried to overcome the United States sovereign immunity status and failed. This time its the "Thompson Twins" Bobby and Bob, Bobby, the surviving recipient of an annuity purchased by the United States from National Home Life Assurance Company* on March 5, 1993 to resolve a 1989 claim brought by her step brother Melvin Ladell Smith, and Bob Thompson, the President of Annuity Transfers, Ltd (collectively "Bobby Bob")."Bobby Bob" entered into a formal Transfer and Assignment Agreement on January 22, 2008, conditioned on "the approval by a court of competent jurisdiction in accordance with an applicable state transfer statute of a state of the United States of America and must be structured, consummated, closed and approved in accordance with certain applicable laws of the United States of America".Bobby represented that she had "all the requisite power and authority and had taken action necessary to execute and enter into" the transfer agreement."Bobby ...
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Fresno Tomahawk Chop Suey
2009-03-20 17:13:00
While the Recent Appellate decisions in the Tomahawk and Ramos cases in Fresno County California represent a victory of sorts for J.G. Wentworth, in that California is not sinking into the sea as feared, Patrick Hindert ruins his own commentary with his presentation of "The Bigger Picture"Hindert's "Bigger Picture" Final results for the Fresno County factoring cases are still to be determined. TRUE The primary and secondary structured settlement markets both face unprecedented challenges. TRUE Primary market challenges: IRC section 468B Qualified Settlement Funds (QSFs); The secondary market defined by IRC section 5891 and the state protection statutes; Successfully integrating structured settlement laws, processes and documentation with Social Security, Medicare and Medicaid; Surviving the current financial crisis without annuity provider insolvencies and/or payment defaults. Comments Hindert continues to try and milk IRC 5891 like a growing child unwilling...

Structured Annuity Issuers Again Rank Well In 2009 Fortune "World's Most Ad
2009-03-19 02:20:00
Structured settlement annuity issuers again appear in the FORTUNE list of America's Most Admired Companies for 2009. The annual FORTUNE survey has been called "the definitive report card on corporate reputations". There's nothing better than having your peers recognize you and the survey that forms the basis for these rankings does just that. Peers are asked to rate their competitors on the basis of these 8 points: Innovation, People Management, Use of Corporate Assets, Social Responsibility, Quality of Management, Financial soundness, Long Term Investment and Product/Service Quality.There is something new for the 2009 "Most Admired", Fortune has consolidated to a single global survey Structured settlement annuity issuers fall into two categories (1) Insurance-Life and Health; and (2) Insurance-Property and Casualty. A number of structured settlement annuity issuers fall into the P&C Category because of the diversity of their businesses. Life &...
More About: Rank , Annuity

Fixed Annuity Sales Up 90% in Q4 2008 over Q4 2007 and Up 60% Calendar Yea
2009-03-19 00:19:00
According to Beacon Research Fixed Annuity Premium study of 53 insurance companies representing 86% of the market, U.S. sales of fixed annuities were up 60% in 2008 . Surprisingly in the 4th quarter of 2008, at the height the financial crisis and bad press, in which a number of large insurers were downgraded by rating agencies, Q4 results were estimated at 90% above Q42007 and 23% higher than Q3 2008. Beacon reports that fixed annuity sales were the strongest since they began the study in 2003. The study includes immediate annuities (income annuities) but DOES NOT include structured settlements. The study shows that the public generally has faith in insurance companies despite the negative financial press concerning AIG, Hartford, Conseco and others.
More About: Sales , Calendar

Settledmoney.com Scraper Site Is NOT Affiliated With Structured Settlements
2008-12-18 05:56:00
Over the past few weeks we have noticed that our copyrighted content was regularly appearing on a site called settledmoney.com. Settledmoney.com also used our category headings and the confusion was such that I heard from several friends who questioned me about it  because the site claims to be about money now-one of my favorite targets of late.The settledmoney.com site is owned by someone whose name, or pseudonym is Jesse James of Austin Texas. The site is registered through Godaddy.com and hosted on servers at dimesnionsystem.com in a Pennsylvania location eerily close to the folks from Bryn Mawr although no connection has been made at this time.This author sent a cease and desist notice to Mr. James and also informed Godaddy's copyright complaint area as well as a similar department at Google. The owner of Settledmoney.com had positioned himself to profit off my content through the placement of Google Adsense ads on pages featuring my content, which again was not author...
More About: Site , Settlements

Equity Indexed Annuities To Be Regulated As Securities...SEC
2008-12-17 21:59:00
The Securities and Exchange Commission (SEC) today approved adopting rules on a 4-1 vote based on SEC proposed Rule 151A**, which is intended to regulate equity indexed annuity products as securities, rather than the non-securities treatment they have received to date.  The effective date appears to be January 2011. Additional details are forthcoming.Structured settlement consultants who are currently selling equity indexed annuities to tort victims will need to obtain the appropriate licenses and affiliations to be able to sell the product in the future.**   SEC Proposed Rule 151A 
More About: Equity , Annuities

Testimonials From One Cash Now Pusher Show That All Is Not As Rosy As Stone
2008-12-17 20:37:00
Finally the message is getting through to the factoring industry, some of whom are attempting to defend the "cash now pusher" moniker. In attempting to re-write the dictionary Stone Street Capital's Patricia Laborde says that NOW really means a couple of days, not immediately.First let's be clear that individual exceptions aside, according to an insider. the factoring industry's poop DOES stink. For example:"In an industry which I believe has many players with questionable integrity, XXXXXXXX  shines well above the competition"."I would like to say thank you for everything you did even though you were unable to help us due to another company???s incompetence and what I would consider lawless action"."You are the only ones that stuck by what you told me. Everything you told me was on the money.  No hassles, no lies and no deceptions".These quotes appear right on the Patriot Settlement Resources web site. The factoring...
More About: Show , Testimonials , Cash , Pusher

Literacy Chasm Exists Between Shills For "Financial Crack Dealers"
2008-12-17 07:16:00
Some schmo actually wrote this "steaming pile" entitled "How To Sell So-called Structured Settlements""Structured settlements do guarantee a steady flow of income, but they are given in "bits", or periodic payments. For some that settled a case with this method, there does come a time when they need a lot of cash during some point of time, usually when the payment from the structured settlement isn't due yet".First it's "point in time" NOT "point of time". For example  "at some point in time", although in my case I could say what's the point of wasting my time with this schmo's run on sentence? A "steady flow" and  "bits" is a non sequitur. Perhaps the cash now pushers in question could add to their "to do list" that a modicum of literacy is prerequisite to hiring shills .
More About: Financial , Literacy , Crack

Aviva Exits Structured Settlements, Industry in Shock
2008-12-16 16:48:00
The structured settlement industry is buzzing today with the abrupt decision of Aviva to cease writing NEW structured settlement business effective December 15, 2008. The company is NOT going out of business , it is simply stopping writing structured settlements. Aviva Life and Annuity Company (and its New York subsidiary), rated A+ by AM Best, part of one the largest insurance groups in the world, is one of the fastest growing life insurance companies in the United States. Who could have predicted this? Aviva's structured settlement operation had rapidly expanded in the last year. Less than 7 weeks ago, at the San Francisco NSSTA Regional meeting , where I had the pleasure of dining with a number of Aviva and Platinum representatives, I was left with the impression that business was going gangbusters as they benefited from some of the uncertainty created by the financial press about some of their competition. The company's structured settlement growth was notable because ...
More About: Industry , Shock , Settlements

Andrew Cravenho... Someone Who Gets It!
2008-12-16 02:06:00
Michele Determan Hsu, Senior VP Marketing of "cash now pusher" Stone Street Capital, blogs that she wants to have an open discussion with the "primary market" to address "cash now". What's to address? It's fraud!. It seems that the intent is merely to draw more traffic to its website. Andrew Cravenho, one of the youngest and most intelligent in the factoring industry gets it. Here's what he says:"Technically speaking, an annuitant cannot receive ???cash now??? when involved in a structured settlement factoring transaction. These types of transactions need to be court approved which takes an average of 6-8 weeks and in some states longer. The primary market???s main concern of the secondary market is the advertising practices that some companies in the secondary market continue to use. If companies in the secondary market can clean up some of these problems, the primary market may look upon the secondary market with a brighter li...

Afraid of Losing Business Due To Structured Settlement Transparency Initiat
2008-12-16 01:51:00
It has come to this author's attention that there are one or two structured settlement brokers, settlement planners who have told one of our sources that they will "turn it over to their lawyers" IF they lose any business over the Matter of Honor Project, a grass roots structured settlement transparency initiative in the structured settlement industry that is designed to improve confidence in lawyers, tort victims, judges, insurers, regulators and other stakeholders who benefit or are involved in the establishment of structured settlements. Factoring broker Rhonda Bentzen, of Bentzen Funding Solutions, made such a threat last December when this project started. Bentzen of course had just disclosed to the world that 90% of her clientele was on the take and that the majority of her clientele were settlement professionals. Ms. Bentzen followed this nugget up by trying to defend the taking of kickbacks by structured settlement brokers and settlement planners whic...
More About: Business , Transparency , Settlement

J.G. Wentworth in Major Contraction? Lays Off 120 Employees
2008-12-15 19:16:00
J.G. Wentworth has laid off 120 employees according to a report in today's Philadelphia Business Journal, citing a required filing with the Pennsylvania Department of Labor and Industry.According to the J.G. Wentworth website the "cash now pusher" went from 100 employees in 2005 to 200 employees in 2006. Now in 2008 there appears to be a SIGNIFICANT CONTRACTION in its workforce.One wonders if this has anyting to do with S&P's recent downgrade of J.G. Wentworth to CCC+ (junk status)Has the fat lady begun to warble?Read  At J.G. Wentworth, WE need cash now"?  November 30, 2008
More About: Employees , Lays , Major

Madoff Ponzi Scheme and Structured Settlements. Any Exposure?
2008-12-15 18:54:00
As the extent of the fallout from the massive Madoff Ponzi scheme continues to unfold, the breadth of investors and firms affected is already staggering. According to reports several Israel insurers, European Banks, the owners of the Mets, the IRA of the Chief Economist for Market Watch, numerous charitable foundations (some of whom have been forced to close) and the North-Shore-LIJ Health System.  As if the financial services community needed another confidence sapper, the New York Post reports that international losses alone could exceed $8 billion!While Mr. Madoff appears destined to meet his maker in jail (unless he does a Ken Lay), the reporting of the fraud in the financial press is likely to cause some confusion. Therefore 4structures.com, LLC has conducted a brief structured settlement survey of the primary structured settlement annuity issuers for official statements on their Madoff exposure, if any. As the responses come in they will be posted here.Stuctured Annuity I...
More About: Ponzi Scheme , Exposure , Settlements

Does your Structured Settlement Consultant Take Kickbacks From Cash Now Pus
2008-12-14 20:16:00
Questions for trial lawyers Does your structured settlement broker or settlement planner take kick backs from "cash now pushers"? According to one factoring broker 90% of structured settlement consultants referring her business do!  The money comes out of your client's recovery! Has any client of yours told you that they were approached by a "cash now pusher" even though the annuity issuer sent written assurances of privacy along with the structured annuity contract AND the settlement agreement for their case was subject to a strict confidentiality agreement? Have you heard through colleagues that a structured settlement broker or settlement planner has purportedly "partnered" with one of the "cash now pushers" and is selling names to them? Is your structured settlement broker or settlement planner sharing strictly confidential case documents with "cash now pushers" to facilitate structured settlement factoring transactions...
More About: Consultant , Cash , Settlement

Patrick Hindert Is All "Poultry" On Strategy of Factoring as Growth Tool
2008-06-08 18:46:00
It's pushing 100 degrees in the nation's capital, close to that out here on Long Island Sound, and the "The Hindert Chicken Meter" is on roast. Many in the structured settlement/settlement planning industry have for years  been subjected to Hindert's pontification about how factoring is route one to structured settlement industry growth while he simultaneously slags off the industry. This author has challenged Mr. Hindert to write a white paper to spell out his ideology and the struggle he is fighting. If he really believes in it, then put it out there for all of the world to see. 26 days have gone by since Hindert has been challenged. Hindert challenged me to a debate in a phone call shortly before May 13, 2008. The "Hindert Chicken Counter" hit the press on May 24, 2008 when it became obvious that Hindert is avoiding the question now. The aforementioned is a continuous clock that will keep ticking until Patrick Hindert responds. You can access the cl...
More About: Strategy , Tool , Poultry , Growth

What Is A "Structured Settlement License"?
2008-06-07 21:59:00
On a number of structured settlement industry/settlement planning industry web sites it is advertised that one or more individuals are a "licensed structured settlement broker" There are structured settlement brokers who hold life insurance broker's licenses , or agent's licenses for life insurance (in most states that includes non variable annuities) with carrier appointments, in the various states where they solicit annuity or insurance business. There is, however NO SUCH THING as a "structured settlement license". Those that place structured settlements are required to possess a valid life insurance license as one of the prerequsities to receiving an appointment from the life insurance companies who write structured settlement annuities. A number of individuals and  companies that purchase structured settlement payment rights deceptively try to position themselves as a "structured settlement broker". Those individuals and companies do not a...
More About: Settlement , License

"Squidward" on Securitizations of Structured Settlements
2008-06-07 18:07:00
Investment Dealers' Digest, a publication of Sourcemedia, is the weekly magazine more investment bankers turn to for essential news that helps them identify market opportunities and new deal structures. Securitization is the practice of reselling regular payments made by consumers on mortgages, credit cards student loans and, among other things. factored structured settlement payments In a May 26, 2008 article by Aleksandrs Rozens entitled "The Future of Securitization", John Calamari, CFO of JG Wentworth, was quoted as saying that his firm has done $1.7 billion worth of deals since 1997.  On the one hand that seems like  an enormous number, yet  for a company that claims to be the undisputed leader in the industry that's an annual amount of only $154,545,454.55 employing a straight average However, there is something more revealing and important quoted from Rozen's article "Initially, the firm (J.G. Wentworth) had to structure to bonds with 16%...
More About: Settlements

J.G. Wentworth "Commercials"... What People Really Think?
2008-06-07 17:13:00
Follow up with a post with a collection of comments on how people on the street really feel about J.G. Wentworth commercials gleaned from a Google search of "J.G. Wentworth commercial". "This has nothing to do with celebrities, or boobs, (oh my god! I know) but have you seen this commercial? I f***ing hate this commercial. This is the worst piece of advertising ever. You know what it does instead of making me want to go out and get more information about J.G. Wentworth’s financial services? It makes me want to drive a burning tanker truck filled with radioactive waste into an orphanage." The Last Brain Cell May 28, 2008 ". Click here to read the "undulterated" story of how he really feels in I Hate J.G. Wentworth" "The JG Wentworth commercial with the big, yapping mouthed, losers, hollering shit out of windows is enough to make a guy want to smash his TV set. ..." Omaha Craig List "If see that commercial one more time I might my sue them for harrasment (sic) and and when ...
More About: People , Commercials

JG Wentworth's "Beserker Warriors"
2008-06-06 16:31:00
It seems somewhat curious how "cash now pusher" and  Academy of Special Needs Planners sponsor JG (“Just Gimme”)Wentworth, in their commercial "Viking Opera", has chosen to adopt Vikings as part of their latest attempt to pry money from structured settlement recipients. Let’s take a closer look at a few of the similarities between JG Wentworth and the Vikings: The activities of neither is/was regulated enough, not having to answer to anyone but themselves One group is known for "pillaging" victims while attempting to take over whole communities – just like the Vikings. One group would attack unprovoked to get what they wanted – just like the Vikings. One group would take advantage of situations to further their cause – just like the Vikings. For one group’s victims, daily life became a struggle – just like those who fell victim to the Vikings. Both have some association with "spam" Now let’s look at...
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Deal Flow Media Implies "They Should've Illegally Rebated"
2008-06-06 05:20:00
DealFlow Media 's attempt to portray as irony that The Hartford Financial Services Group is included on the Ethisphere Institute's second annual "World's Most Ethical Companies" list, despite allegations of unethical practices that the company has faced in its structured settlements business, ends shambolically with the implication that the right thing to do for Hartford would have been to pay illegal kickbacks of "commissions to annuitants" . "The Hartford is among the companies honored this year because they have developed impressive and meaningful ethical business practices, making them true standouts within their industries," Alexander Brigham, executive director of Ethisphere Institute, was quoted to have said in a statement. Ethisphere cited Hartford's company-wide effort in recent years to build a stronger, more cohesive ethics and compliance program for its 31,000 employees. The Hartford is facing a class action lawsuit where it is accused of using "approved lists"...
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Structured Settlement Quotes...Do You Need One Now?
2008-06-06 04:50:00
If you need structured settlement quotes you want to get in touch with a specialty insurance agent or broker who is licensed in your state**. For the average person searching on Google it's tough to tell who can give you structured settlement quotes. 4structures.com, LLC appears on the 1st page and can give you structured settlement quotes either by calling their toll-free number 888-325-8640 or using its secure structured settlement quote form (information you enter is secure if the https shows in the URL) But then to find the next one, you have to go several pages in before you get someone who can give you structured settlement quotes. There are a ton of companies in the search engine results who do not give you structured settlement quotes. Many of them are willing to buy structured settlement payment rights from people who already have structured settlements. There needs to be a distinction between structured settlement factoring quotes and structured settlement quotes so th...
More About: Quotes , Settlement

AIG American General Issues Q&A on Recent Ratings Releases
2008-06-06 02:33:00
The following Question and Answer Memo was distributed by AIG/American General today. The AIG/American General memo addresses the recent AIG corporate earnings announcement, the recent ratings actions and reaffirms the strength of AIG/American General and the entire AIG global operations. Download qa_2008_earnings_and_updated_rating_agenc y_actions.pdf The AIG/American memo follows two recent Structured Settlements 4Real posts on the topic: AIG Removed From Credit Watch by S&P  May 24, 2008 and AIG Posts Q1 Earnings Loss-Putting Things in Perspective for Structured Settlement Payees, Lawyers for Tort Victims and Parties in Litigation Removed   May 8, 2008
More About: Issues , Recent , Ratings

A Stupid Financial Mistake...A Big One Is Looming for The Unwary As Structu
2008-06-05 21:10:00
The intrinsic value of  your existing structured settlement will likely increase over the next 4 years regardless of who is the next President of the United States, John McCain or Barack Obama. To best part is that to get this increase in value you don't have to do anything except keep receiving your payments as you always have. Does anyone believe that taxes will NOT increase in next 2-4 years? Whether you are receiving a structured settlement as a result of the settlement of and payment of damages in a physical injury, wrongful death case,  or a workers compensation claim, such payments are excludable from gross income under the Internal Revenue Code  (IRC 104(a)(1) for workers compensation and IRC 104(a)(2) for personal physical injury). Excludable from gross income means income tax free. Investing the same amount of money at the same interest rate will result in a dramatic difference in your bottom line because of the tax leverage. A 6% tax free rate is th...
More About: Financial , Stupid

Pre-Settlement Funding Nothing To Do With Structured Settlements! DealFlow
2008-06-05 17:17:00
The "structured settlement illiterati" at Deal Flow Media served up more digital diarrhea with a story about pre-settlement funding on the company's online Structured Settlement s Wire. It  SHOULD be obvious to readers that Pre-Settlement Funding HAS NOTHING TO DO WITH structured settlements. Pre-Settlement Funding is a form of cash advance available to tort victims with choking bills, whose cases are still pending, where specialty finance companies (like Law Cash, Magnolia Funding  provide non recourse funding to tort victims. If the plaintiffs win or settle their case the finance company has a lien on the proceeds. Non recourse essentially means that if you lose your case you owe the finance company nothing. Due to the risk involved for the finance company a large effective rate of interest (as high as 2.5% per month) is charged. Thus modest amounts advanced can grow to substantial amounts if there is a long period of time between the advance and the time the...
More About: Settlements