Litigation

This week's financial literacy lesson comes to us from a review of the website of cash now pusher Northeast Capital Funding:

1. "Many States have recognized the need for lump sum payoffs, and have provided for them in their by-laws"

Comments

• A by law is a law or rule governing the internal affairs of an organization. 
• A state is not an organization.
• The New York structured settlement protection act does not refer to the internal affairs of the state
• The structured settlement protection act in New York is part of the General Obligations Law. That is not a by law.

2. "From it's conception in 1997, Northeastern Capital has only handled lump sum payoffs"

Comments

• Conception is the formation of a viable zygote by the union of the male sperm and female ovum; i.e. fertilization.
• Is Northeast Capital Funding implying that it was a fetus conceived in a fallopian tube? If so let's see the birth certificate!

3. "Northeastern Capital processed our first lump sum payoff in 1997. Since then, we have gone on to assist many other clients in obtaining lump sum payoffs for their lottery, trust, settlement and annuity payoffs"

Comment

These guys are giving payoffs, on payoffs?

FINANCIAL LITERACY, GET IT!