Litigation

Using Credit Card vs Selling Structured Settlement

By John Darer

Paid to post shill for Prosperity Partners, Brit Julie-Ann Amos states in Structured Settlements in Georgia:

"It?s real easy to reach for the plastic when you don?t have the cash to pay for things. The problem with that is that your credit card debt piles up as well as an exorbitant amount of interest. And, let?s not even mention those late fees. But, if you own a structured settlement, you don?t necessarily have to keep relying on the plastic to make ends meet"

Amos suggests that you tap your structured settlement by selling structured settlement payment rights to "pay for things". There is no mention or consideration for how the individual has arrived in the financial predicament. Compulsive spending is an addiction like alcoholism. Someone who cares about an alcoholic is not going to support bad behavior, so why support the same in a spendthrift?

Without a well reasoned plan that includes education on how the person got there, a recognition of the reason and a plan to mitigate the risk of a recurrence, one is just throwing gasoline on the fire which could have disastrous consequences.There is a reason that credit cards have limits. The only thing standing between the recipient and cash now is a single person, the judge.

Despite their feigned beneficence some factoring companies continue to solicit consumers with "why wait?" sales pitches and bribing customers with promises of financial or "in kind" rewards for destroying long term financial security.

Ms. Amos who is not by any means an expert on structured settlements was the subject of our post The Truth About Julie Ann Amos" last month.

Full post as published by Structured Settlements 4Real on March 26, 2009 (boomark / email).