Litigation

Perhaps it's the case of survival of the fittest, but the word on the street is that a number of factoring companies that are promoting the "cash now" fraud while allegedly, behind the scenes, they having great difficulty funding their deals on time, or otherwise.

It is an absolute outrage that an unregulated industry coupled with a heretofore lack of enforcement of truth in advertising regulations enables these companies to mislead consumers.

This author believes that reform is necessary to require such companies to post and certify reserves to back up deals they enter into, with such certification a requirement under state and/or federal law.

We intend to keep our ear to the ground about these deals and, at a suitable time, turn the advertising and the information learned over to the Federal Trade Commission and to the relevant state attorney general.

This author solicits any annuitants, settlement professionals,lawyers and financial advisers who have relationships with, or otherwise have knowledge of annuitants who have been promised "cash now" in exchange for structured settlement payment rights, but the transaction has (1) either not been funded and the cash now pusher has walked away leaving the annuitant hanging or (2) it has taken longer than 90 days.

If you are an annuitant be sure to preserve evidence any advertising or correspondence, solicitation using a financial incentive or gift, which led you into doing business with a particular company.