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  2. By submitting this form, I am providing Structured Settlement Quotes with express written consent to contact me regarding product offerings by SMS/text messages or by using an auto dialer (or automated means) at the phone number(s) provided and such consent is not a condition of a purchase. I also consent and agree to Structured Settlement Quotes’s Privacy Policy and/or Terms of Use.

 
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    1 - Enter General Information:
    I have a:
    Structured Settlement Lottery Payments Other Annuity Worker's Compensation
    Name of Insurance Company That Pays Me
    2 - Describe each Payment Stream you want to Sell (one payment stream at a time):
    Would you like to enter another payment stream?
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    # Frequency Next Payment Amount Last Payment Guaranteed COLA Increase On Date Delete
    3 - Tell us about your highest offer so far, if any, then Click on "Finished":
    Have you received offers from other companies?

Response to WSJ on Investing in Structured Settlement Factoring Transactions



The Wall Street Journal on Friday, July 23, 2010 published an article titled "Another Can't-Miss Deal That Can Miss Spectacularly".

This article is inaccurate and misleading on a number of accounts.

Firstly, our Group has transacted over $350 million in these types of payments with zero defaults.

Secondly, the liquidity risk that is mentioned in the article is a risk common to many investment insurance annuities and is not unique to annuities purchased on the secondary market.  It is a risk that is fully disclosed in our Group’s Buyers Guide that is given to all prospective buyers.  Buyers accept this risk because the guaranteed nature of the investment with significantly superior fixed rates of return are worth it.  The investments are designed as long-term holds and should not be purchased for short term strategies.   For example, they qualify for IRA plans.

Finally, with respect to the Dallas court case referred in the article:

  • No structured settlement annuity case is sold by our Group until a fulsome due diligence process is completed and results disclosed to the buyer.  This includes a benefits letter from the annuity issuer confirming the annuitant’s payments still for sale.  ( If a prior sale transaction had been concluded, same would be noted in this benefits letter.)  Court, lien, and bankruptcy searches are conducted in all cases as against the annuitant and the annuity to confirm if a prior transfer order or UCC filing statement evidencing a prior transfer or encumbrance exists.   It is important to note that even pre-2002 transfers had recorded UCC filing statements providing notice of these transactions.
  • each transfer application is served upon the registered owner of the annuity and the annuity issuer and they are provided with a minimum of 21 days notice to respond or object to the transfer prior to the court hearing the matter.  If a prior transfer has occurred the annuity issuer does object and the transfer order is not granted.  In such case transaction is never completed.
  • At transfer court hearings, often the court will refuse to issue a transfer order on account of a prior transaction having been disclosed.  This is a positive thing and is further evidence that the system is working so as to prevent a double sale of the same annuity payments.

In summary, provided proper due diligence is carried out there is not the risk referred to in the article.  This is why it is important for a buyer to carefully choose the company from which it buys these annuities.

 

Unfortunately the article fails to mention the benefits of this product:

  • High yields, between 5 - 8%.
  • Fixed returns on fixed dates paid by S&P A- to AAA rated insurance companies.
  • Certainty through court order.

In conclusion, some things really are not too good to be true.

 

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