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Litigation

: Structured Settlements 4Real

Structured Settlement Quote Search Affected By Factoring Industry Fakers

By John Darer

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When searching on the Internet placing the search words in parentheses is generally going to produce the most relevant result. Using that as a starting point I want to continue shining the high beams on how "cash now pushers" are manipulating the Internet to the detriment of consumers.

A Google search for "structured settlement quote" Download structured_settlement_quote_search_google_6222008.pdf only results in 2 legitimate sources of "structured settlement quotes" out of the top 10 listings. THE REST OF THE LISTINGS in the top 10 on Google REPRESENT FAKERS who cannot deliver structured settlement quotes to consumers.  Why are they fakers?   

Consider the term "structured settlement quote".

"Structured Settlement" describes the process of settling claims using a qualified funding instrument (a single premium structured settlement annuity or a trust fund which invests only in obligations of the United States Government) resulting in a customized stream of periodic annuity payments that are tailored to the plaintiff's particular financial needs.

It is defined, for the purposes of IRC 5891, as

"an arrangement"?

    (A) which is established by (1) suit or agreement for periodic payment of damages excludable from gross income of the recipient under section 104(a)(2), or (ii) agreement for periodic payment of damages under any workers? compensation law excludable from gross income of the recipient under section 104(a)(1), and

    (B) under which the periodic payments are (i) of the character described in subparagraphs (A) and (B) of section 130(c)(2), and (ii) payable by a person who is a party to the suit or agreement or the workers? compensation claim or by a person who has assumed the liability for such periodic payments under a qualified assignment in accordance with section 130...

With the exception of Christianet.com, the "fakers" on the list are factoring companies, including the one run by the President of the National Association of Settlement Purchasers. Our research suggests that these companies are NOT APPOINTED by annuity issuers to give quotes for structured settlement  "qualified funding instruments" or the leading facilitator of the alternative permissible US Treasury based "qualified funding instrument".

With the exception of ChristiaNet.com, which appears to have simply published a submission with bad information, this is an ongoing problem where clearly the fakers willfully manipulate the code for their web sites knowing that what they do is not a "structured settlement quote". What the fakers do is clearly and unequivocably defined in the Internal Revenue Code.

Full post as published by Structured Settlements 4Real on June 22, 2008 (boomark / email).

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