Litigation

• This is an advertising lie from "cash now pusher"  Peachtree, that was picked up on a Google search today:

  Structured Settlements

  Get All Your Money Now! Get Cash for Structured Settlement Payments.

  peachtreesettlementfunding.com

Lie Number 1 Get all your money
Lie Number 2  Now

Fact 1: You cannot get ALL of your money if you sell or transfer your structured settlement payment rights to Peachtree Settlement Funding. As an aside, Peachtree is known for having some of the most uncompetitive discount rates in the factoring industry. Even if the discount rates were competitive the annuitant would NEVER get ALL of their money from Peachtree Settlement Funding or any factoring company.

Fact 2: If  Fact #1 is true then Lie Number #2 cannot be true

In the opinion of this author, judges evaluating structured settlement transfer requests where Peachtree Settlement Funding should be aware that the annuitant may have been solicited from an advertisement using these two lies.

HOW can states' attorney general continue to allow this abhorrent behavior to go unpunished?

I reported on this same ad in April 2007  and in February 2008

WHEN will truth in advertising laws be enforced?

FACT: Peachtree Settlement Funding is one of the largest companies in the National Association of Settlement Purchasers (NASP).

Questions:

1. Does NASP have a code of ethics and a means of enforcement? Does NASP sanction the form and substance of the Peachtree Settlement Funding advertising lies?
2. How about it Earl Nesbitt?
3. How about it Robin Shapiro?
4. How about it Robert Ostrov? (running for Florida Senate-primary is next week, works for another "cash now pusher", but used to be in-house counsel with Peachtree when this campaign was operating in 2007)

The following comments , were published in October 2007 in the NASP wiki on the Structured Settlement market, following a panel discussion at the NASP annual meeting:

Comment 1 "No one benefits from bad business practices. NASP members are committed to good business practices throughout the structured settlement industry."

• Should we now assume that NASP's word is not good, or not credible, members of congress, state regulators, judges and members of the bar?

Comment 2 "The primary market's current view of factoring can be compared to Tiffany diamonds vs. pawnbroker diamonds. We want the primary market to view factoring as a positive - like the re-sale value on a Lexus automobile."

• It is evident that there has been little effort by NASP to stand behind the commitment embodied in comment #1. Shame on NASP and its leadership!
• To characterize the factoring industry as any form of "diamond" is wishful thinking on the part of NASP. With a few exceptions the factoring industry is seen as an association of pawn brokers, hustlers and false advertisers.

The NASP wiki is published by Patrick Hindert of S2KM. The wiki includes Google Adsense (pay per click) ads from a number of factoring companies including Peachtree Settlement Funding. Site owners profit each time a visitor clicks on one of ads. Patrick Hindert is a member of NSSTA and SSP, however it is not believed his efforts to promote factoring are sanctioned by either association.

Postscript 211pm- Jeffrey Weiner (jeffreyweiner@yahoo.com), IP address 208.62.18.126, obviously a fan of high teens discount rates to tort victims, writes me with a "Nice Try" snipe and the message "Too bad if you actually read the add (sic) you would see that the word ALL does not appear". Perhaps Weiner works for Peachtree, perhaps he doesn't. Perhaps he's a NASP operative. It doesn't matter. Let's show Weiner what Peachtree is capable of.

Download peachtree_all_you_money_now_4132008.pdf    Res Ipsa Loquitur! The same ad appeared today. Perhaps Peachtree is running several ads.  Maybe someone read this blog and actually changed the text of the Google Adsense ad. If that is the case then I would call that "mission partially accomplished".

False advertising is bad for consumers period.

I know of a good optician if you need one Jeffrey.

Further Reading

Is "Cash Now" for Structured Settlements Pitch a Fraud on Consumers? April 13, 2008. Includes a quote from the NASP President admitting that selling structured settlement payments is not like  going to an ATM as advertising implies