Litigation

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 industry can thank J.G. Wentworth and those industry lemmings who follow them for the reputation as cash now pushers. Like cash now , cash now pusher resonates. As memorable and notorious as the JG Wentworth commercials were, in  oversaturating an advertising message that is technically false they did significant harm to the factory industry reputation with attorneys and the perception of structured settlements by attorneys. I'm not making this stuff up, purveyors of competing products are even marketing against it! The perception is that more structured settlements are being factored and thus attorneys are thinking twice about structuring. Add that to certain elements in the factoring industry's reputation for aggressive and/or harassing phone calls to tort victims and the slop ain't so tasty.

How about Peachtree Settlement Funding's stupiculous all your money now plum? I have challenged Peachtree Settlement Funding to prove that it performs as advertised (i.e. ALL THE MONEY AND IMMEDIATELY!) It appears too busy charging high discount rates and bragging about size (of their securitizations) to bother with transparency .



As to Stone Street's efforts to separate itself from the pack, I'm all for it. If you say you give a non recourse cash advance however, then simply advertise it as such instead of cash now and don't explain it away afterwards unless you want to look disingenuous.