Litigation

The Settlement Quotes, LLC factoring exchange has published standards for funders who wish to participate on the exchange which has been growing in popularity.

"Consistent Rate Standard:

It is important that a company demonstrate competitive rates on every transaction they provide quotes for, regardless (of whether) if it is a Settlement Quotes? client. These rates have to remain consistent whether the transaction is competitive or uncompetitive.

Better Business Bureau Record:

A company has to demonstrate that they do not receive frequent complaints through the BBB. SQ will accept a company if they have complaints, but it will request more information on the reasoning and resolution to the complaints. If a company receives complaints on a regular basis they will not be accepted.

No Abusive Sales Tactics:

There are a few companies that use tactics such as ?interest drag? to gain profits off of competitive factoring transactions. A company that uses this tactic will not be accepted into the Settlement Quotes network.

Recently, another tactic has been observed by SQ legal and sales staff, which is frowned upon .  ?Servicing?** of annuity payments by structured settlement factoring companies is becoming more and more prevalent and will not be tolerated by Settlement Quotes.

?Servicing?** is when a factoring company purchases the rights to an individual?s settlement payments, but instead of transferring only the purchased amount of settlement payments, the factoring company transfers the entire structured settlement annuity into their company?s name. The company now receives a check in their name and then pays the tort victim when they are scheduled to be paid. This takes the power out of the tort victim?s hands and significantly reduces the present day value of the structured settlement.

Any company that uses these types of tactics are not accepted into the Settlement Quotes network".

Comments

Structured settlement brokers, settlement planners and financial planners who are called upon with  questions on this subject and who decide to put themselves out there by giving advice to cash crunched structured settlement payment recipients who have exhausted all other options may wish to give Andrew Cravenho a chance to impress you. Using a factoring exchange saves time. The saving time aspect is a tonic for the immediate gratification impulse that sucks victims into costly deals that compound the loss of long term financial security.

** Read Seniors Being Taken Advantage By Prominent Factoring Company (click title)