Litigation

On August 3, 2010 the Recscue Capital " Word of The Day" was  Cost of Living Adjustment (COLA). Here is Rescue Capital's contribution to finnalcial illiteracy:

 

"COLA is a featured added to an annuity contract that allows the annuitant to receive more money each year in order to counteract the effects of inflation. Tied to the consumer price index, the yearly increase in annuity payments is usually a specific percentage. For example, if the annuitant receives $10,000 last year from his annuity and COLAs for this year were 6.1%, then his benefits for this year would be $10,610".

 

This author, John Darer, covered the "Un-COLA" in the following blog post June 3, 2010:

 

May as well ring up the score. Add Rescue Capital to the pile of misinformers who promote the oxymoron that you can be "awarded a settlement".