Litigation

Settlement Planner Commits Perjury in Court Document? OYOYOY!

Posted on February 10, 2009
Doing his job to "help elevate the profession" a New York based settlement planner having been duly sworn and deposed recently said: " A traditional structured settlement is the only mechanism that prevents a minor from cashing in on the...

Bank This...It Ain't Maundy Money- Mundy

Posted on February 09, 2009
Bill Spencer of ABC Television WXYZ-Channel 7 Action News Financial Survival Team in Detroit says "Don't Give your Settlement Away", structured settlements that is!The segment includes an interview with Troy financial adviser Michael Mundy of AXA Advisors who states "...

New York Structured Settlement Vig Takers May Not Be Able to Hide From Dinallo

Posted on February 09, 2009
The draft regulations issued earlier this week by the New York Insurance Department include rules that establish "minimum disclosure requirements." Those requirements include the nature and amount of compensation, as well as language that tells consumers an agent "may have...

Qualified Settlement Fund Use In Single Claimant Cases

Posted on February 09, 2009
On June 19, 2003, the Society of Settlement Planners armed with numerous contributions (that included $15,000 of this author's money**) hired the law firm Skadden Arps to seek clarification from the United States Treasury Department about the use of 468B...

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Ghosts of The Internet

Posted on February 08, 2009
According to a Compete.com analysis for January 2009, the structured settlement industry websites picked up by Compete.com averaged 839.67 unique visitors. While this represents an improvement from December 2008, the result is misleading because two companies 4structures...

North East Settlement Funding

Posted on February 05, 2009
Despite changing from Seeley Investments toll-free number to a local phone number Christopher J. Seeley's "tenant" cash now pusher North East Settlement Funding lists Seeley Investments as a related webpage as of February 5, 2009. Download Google Maps related web...

Nancy Pelosi's Voodoo Economics

Posted on February 04, 2009
305,749,425 Population of the United States February 4, 2009 Number of Jobs Being Lost Every Month According to Shrieker of the House Nancy Pelosi 500,000,000 (cited as a reason we need to pass economic stimulus ill right away)

Allstate Life Insurance Company in Ratings Downgrade by S&P, Fitch, But A.M. Best Affirms Rating

Posted on February 04, 2009
While A.M. Best affirmed Allstate Life Insurance Company at A+ (Superior) this week, both Fitch and Standard & Poors have lowered their ratings on the company to A (Strong) and AA- (Very Strong) respectively. The ratings also apply to Allstate...

Chartered Financial Consultant® Program Expanding "To Put More Distance Between It and Other Credentials in The Field"

Posted on February 03, 2009
As professional credentialing moves to the forefront in consumers vendor selection process, The American College has announced February 2, 2009 that the Chartered Financial Consultant® (ChFC®) designation program, will require a total of nine college-level courses for students starting the...

MetLife Announces Q4 2008 and FY 2008 Results

Posted on February 03, 2009
Although reporting earnings fro the line were down $251MM for Q4 2008, Metife reported with respect to its Institutional Business that retirement and savings premiums, fees and other revenues grew 80% in Q4 2008 over Q4 2007 to $689MM. This...

"Cash Now Pusher" Rides To Rescue "Damsel" Hindert's Distress

Posted on February 03, 2009
Patrick Hindert's "friends" are coming to his defense and not surprisingly the source of support is from the factoring industry. Cash Now Pusher Stone Street Capital's Patricia Laborde states that "while he never actually uses the term, it seems that...

Are The Tough Guys Still Tough Post Election?

Posted on February 03, 2009
Back in October the press was all agog at $20,000 worth of spa treatments at an AIG sales retreat. A October 7th hearing before the congressional House Oversight Committee brought attention to a conference which took place at the St....

Could it Be That "Simsbury Sam" Doesn't See Shadow?

Posted on February 03, 2009
Only 4 months after Harry Reid's misplaced muttering started a free fall in confidence, now the financial press is talking up Hartford Financial Services Group. Barron's Jonathan R. Laing recognizes the risk, but states that for those willing to take...

Life Insurer Capital and Surplus Reductions A No Go-NAIC

Posted on February 01, 2009
The National Association of Insurance Commissioners (NAIC), representing regulators in all U.S. states and territories, reached a decision last Thursday after nearly three months of deliberation to NOT LOOSEN life insurers' capital and surplus requirmeents...

"Go and Boil Your Bottom, You Son of A Silly Person!"

Posted on February 01, 2009
Said Richard Halpern regarding the Patrick Hindert's "Structured Settlement Credo" 1-5 and "The Holy Grail" "John, You have already called me and interviewed me after Patrick Hindert published his "Structured Settlement Credo - 3" wherein he misquoted and mischaracterized an...

If You're A Part TImer And You Know It Clap Your Hands

Posted on January 31, 2009
Lori Forthmann of Los Angeles, CA incorrectly states that the "preferential tax treatment for those injured in personal injury and workers compensation case is now a government benefit guaranteed by IRC 5891 as if it just happened". If Ms. Forthmann....

Brian Ginty Joins The Halpern Group as Senior Vice-President

Posted on January 30, 2009
Brian Ginty, recently Director of Structured Settlements for Prudential, has joined The Halpern Group as a Senior Vice President effective February 2, 2009. Rich Halpern, President of The Halpern Group said "We are thrilled to have Brian with us. I've...

New York Structured Settlement Referrals/Joint Work Need Life Broker's License to Get Paid

Posted on January 30, 2009
Without a direct carrier appointment the only way a person or entity can legally be paid for their role in placing life insurance or annuity business in New York is via a life broker's license. Please review the following opinion...

Did you Think You Sold Your Structured Settlement For One Price Only To Learn that You Were Actually Going To Get Less? COMPLAIN HERE

Posted on January 29, 2009
This author has reason to believe that a factoring company contracted with structured settlement annuitants to purchase their structured settlement payment rights for one price and THEN when the funder fell through forced the tort victims to take a worse...

Structured Settlement Brokers MAY NOT Use NSSTA Financial Handout to Solicit Structured Settlement Annuities in New York

Posted on January 29, 2009
A opinion issued January 26, 2009 by the Office of General Counsel of the New York State Insurance Department finds that a statement that "state insurance guaranty funds provide additional level of protection for future structured settlement recipients", which is...

Issue of Structured Settlement Broker Factoring Compensation "Has Become Such A Volatile One in The Entire Industry"

Posted on January 28, 2009
Stan K. Harlan is a really decent guy, long time friend and industry colleague. In December 2007 Stan was one of the first structured settlement professionals to voluntarily execute the Structured Settlement Declaration Concerning factoring Business Practices as part of...

North East Settlement Funding Still Answering "Seeley Investments" As Nightmare on Main Street Continues

Posted on January 28, 2009
Structured settlement broker Christopher J. Seeley just can't shake cash now pusher "tenant" North East Settlement Funding. Seeley stated on January 5, 2009 "I have never advised an annuitant to seek cash in exchange for future payments, nor do I...

New York Bridges to Nowhere...Yet Another New York Ponzi Scheme Affecting 6,000 and over $130MM!

Posted on January 28, 2009
In those heady days of yore New Yorkers brandished their Cosmopolitans with swizzle sticks. Now some appear to have got the swindle stick from "Cosmo". That's alleged Ponzi swindler Nicholas Cosmo who convinced 6,000 clients to put close to $400...

New York Licensed Structured Settlement Broker

Posted on January 28, 2009
THERE IS NO SUCH THING AS A NEW YORK "LICENSED STRUCTURED SETTLEMENT BROKER CONSULTANT"! It's marketing B.S. Consider these facts: Structured settlements are often funded an annuity. A structured settlement annuity is a form of annuity that permits one or...

Colonial Settlement Partners' "Think BIg Shyte"

Posted on January 28, 2009
Like the other structured settlement factoring companies that contribute to financial illiteracy Colonial Settlement Partners, LP hires a Search Engine Optimization firm (in this case Think Big Sites) which creates a blog that links back to the Colonial Settlement Partner...

United States Owned Structured Settlements and Attempted Structured Settlement Transfers, 5th Circuit Doesn't Like What It Sees in "Peachtree Dish". Affirms Lower Court

Posted on January 27, 2009
The continuing dispute over whether it is possible to factor payments made under an annuity contract owned by the United States has once again come up empty for the factoring company, this time in the Fifth Circuit Court of Appeals....

The Price of Liquidity...Annuity Transfers Website supports FACT that broker commission comes out of Tort Victim's Hide

Posted on January 26, 2009
Annuity Transfers, Ltd. pays brokers for referring it structured settlement factoring business. According to its website one of the options Annuity Transfers offers is for the money to be "wholesaled" to the broker or then charges the tort victim (structured...

Most Popular Structured Settlement Websites Monthly Report January 2009

Posted on January 25, 2009
Three Month Trailing Top 10 Traffic Rank (Alexa Rank as of 01/25/2009) of Structured Settlement and Settlement Planning Industry websites* (+ or- traffic from 12/25/2008 report). Lower number means more traffic. Who Are Ya? Structured Settlements 4Real Blog (John Darer)...

Andres Financial Group, LLC Latest CASH NOW pusher

Posted on January 25, 2009
The Andres Financial Group, LLC a/k/a The Andres Group is the latest CASH NOW pusher. Andres Financial Group/AFG operates a pedestrian looking website with the URL earlycash4u.com/structuredsettlements. (Early Cash 4 u) As we've already covered in this blog in previous...

Structured Settlement Transparency Intiative Reflects Brandeis' Adage

Posted on January 24, 2009
With only a few weeks to go before the structured settlement transparency initiative moves to the next stage it is worthwhile to harken back to the statement of late Associate Supreme Court Justice Louis D. Brandeis who said "sunlight is...

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