Litigation

Hot off the press!

An alert southern US judge has denied a petition to sell structured settlement payment rights.

The 23 year old tort victim attempted to sell 217 payments (18 years 1 month) of  life contingent payments of $1,000 per month , increasing at 3% annually, from a Pacific Life and Annuity structured settlement scheduled to begin January 1, 2020 to a cash now pusher for $4,000.00. THAT'S NO TYPO FOLKS $282,675.66 in future payments for $4,000.00. Effective discount rate is a "tort victim violating" 25.79%

The company which engineered this underwhelming and court denied offer appears on our cash now pushers list  wall of shame.

Structured Settlements 4Real intends to post documents when they become available which will reveal the identity of the cash now pusher

Incidentally, a competing quote offered her $22,000 for ONLY 140 payments, a discount rate of 11.81% which still leaves $117,908.66 in payments intact. A little shopping makes a huge difference and means far less destruction of sound long term financial planning.

Note that the cost from the cash now pusher and the cost from the alternative factoring company includes a cost of term insurance on the life of the seller as this involves the transfer of life contingent payments. Such insurance is required by the settlement payment purchaser to cover mortality risk on life contingent payments.