Litigation

Credit and Debt Blog Reporting of Judge Vogel's Rhode Island "Vultures" Decision Inaccurate

By John Darer

Before anyone starts hurling up their breakfast through their nose, this author has confirmed with the general counsel of a member of the National Association of Settlement Purchasers (NASP) that the Credit and Debt Blog inaccurately reported the amount of structured settlement factoring transactions done on an annual basis as $6 billion in its coverage of the recent Rhode Island "Vulture decision" against Stone Street Capital and its client.

Here's the quote..."This is not an isolated case either. The sale of structured settlements is a $6 billion a year business. J.G. Wentworth is the largest of such companies engaged in structured settlement purchases."

Source: February 4, 2008 post on Credit and Debt Blog entitled " Rhode Island Judge Disallows Sale of Structured Settlement

Credit and Debt blog has unintentionally mischaracterized the amount of structured settlements written by structured settlement brokers and settlement planners as part of the resolution of claims and litigation on the primary side of the business. The world that Stone Street Capital travels in is NOT the primary side of the structured settlement business. Were Credit and Debt Blog's statistic really true the bag pipes would be playing "Amazing Grace".

For the February 3, 2008 post with Structured Settlements 4Real coverage of the Rhode Island "Vultures" decision please click here

The owner of the Credit and Debt blog is Vision Credit Education, Inc. is a nonprofit organization that has been granted tax-exempt status under § 501(c)(3) of the Internal Revenue Code. It's blog states that the contributors to content provided by Vision Credit are experts in numerous credit and debt related fields that work with disabled adults.

Full post as published by Structured Settlements 4Real on February 05, 2008 (boomark / email).