Litigation

This is the first part in an ongoing series about the Urban Legends of Structured Settlement primar6y and secondary markets.

CLAIM: "My credentials...

• Certified Structured Settlement Consultant (CSSC) specializing in designing safe and secure investment vehicles for injury victims who win multi-million dollar settlements. (one of less than 100 people in the world who have qualified for and earned this designation)"--Jack Meligan, SPI as one of the reasons why you should trust him  (Structured Sale website as of 2/22/2010 450 PM EST)
  

FACT: More than 400 individuals have qualified and earned the professional certification. Time to update the website. You're not so unique any more are ya?

B. CLAIM:  " The first major new firm in the structured settlement industry in more than a decade"- Forge Consulting, LLC, on its website and in various paid advertisements with state trial lawyer associations (as of 2/22/2010  455PM EST)

FACT: This Forge Consulting falsehood assigns a high value to this lie which has been perpetuated for years. It has been blogged numerous times that Atlas Settlements Group was founded AFTER Forge Consulting, LLC. Moreover, IFS Corp's founding post dates Forge Consulting, LLC by a mile. Amazing that a company whose founders SAY they place a high value on integrity yet continue to

C. CLAIM: "IRC 5891 made factoring Legal" Rhonda Bentzen, Bentzen Funding Solutions and various structured settlement brokers and settlement planners

FACT: IRC 5891 simply deals with the imposition on the purchaser of structured settlement payment rights, of an excise tax on the "factoring discount" that applies to the sale by annuitants of the rights. IRC 5891 also sets forth exceptions to the tax.

D. CLAIM: "FAST CASH NOW", "CASH NOW" for your structured settlements-made by many cash now pushers

FACT: The court approval process requirement in most state structured settlement protection acts assures that one will not receive the full value of the transaction today, or even tomorrow. Some companies offer a modest bonus or gift to help tide you over and others advance a modest anmount. Don't be fooled.

The structured settlement watchdog adopts the motto of the mother of the Verizon saleman in the Optimum TV advertisement ("If It's Not Optimum It's Not Right),  THE TRUTH IS IMPORTANT!