What in the world is going on with Structured Asset Funding. After observing the saga of the Connecticut woman in this article, one would think that the folks over at Structured Asset Funding (123 Lump Sum or FundingCash.com) would finally get their act together. Well apparently not!
What is the servicing of structured settlement payments?
The servicing of structured settlement payments occurs when an annuitant enters into a structured settlement factoring agreement in which the annuitant chooses to split one or more payments and the factoring company becomes the payee of the entire payment. Once the factoring company receives the entire payment from the insurance company, they keep their agreed upon amount and pay the annuitant their portion.
There have been many articles written throughout the World Wide Web that promote misinformation about the structured settlement factoring industry and specifically selling the rights to structured settlement payments. This author would like to dismiss these myths and provide a faq for annuitants to refer to when selling the rights to their payments.
In a recent article published by a representative of Stone Street Capital, a list of characteristics were provided to look for in a structured settlement factoring company that you may want to do business with.
Here is a summarized list:
After receiving approval by a Delaware judge, JG Wentworth received $100 million from their parent, private equity firm JLL Partners of New York. This boost significantly helps JG Wentworth continue to operate their ongoing business.
Now that JG Wentworth’s bankruptcy plan was accepted, they have zero debt and enough cash to operate for the foreseeable future.
If you have any questions about this matter, please feel free to contact us with any questions.
Today, JG Wentworth announced that three of its non-operating parent holding company level affiliates – JGW Holdco, LLC, J.G. Wentworth LLC, and J.G. Wentworth, Inc., — have filed a voluntary reorganization plan under Chapter 11 of the U. S. Bankruptcy Code in the U. S. Bankruptcy Court for the District of Delaware.
Settlement Quotes has received several inquiries regarding structured settlement factoring companies delaying their obligation to pay annuitants.
Here are a few of the blog comments that Settlement Quotes has received in the past few months:
Stone Street Capital, a structured settlement factoring company located out of Bethesda Maryland recently created a blog to “facilitate open communication.” There has been much controversy over Stone Street’s advertising practices of late and this author hopes that Stone Street would be willing to communicate to both the primary and secondary markets on why they continue to use such terms as “cash now” in their advertising.
Mike Green, an attorney based out of Philadelphia who represents several structured settlement factoring companies published an informative article on the Settlement Capital blog late last week. There are a couple of points that were mentioned in the article that I would like to discuss.
In the article published by Mr. Green, he explained the concept of an annuity’s present value. I would like to provide a few examples on the concept.
Settlement Quotes strives to make our blog entries current. Yesterday this author published an article “JG Wentworth Loses Satisfactory Rating From the BBB,” in the article this author discusses how JG Wentworth has had their satisfactory rating removed from their Better Business Bureau profile.
Within a period of 12 hours, JG Wentworth’s rating went from unsatisfactory to satisfactory. J.G Wentworth’s BBB profile was under review for a three week period throughout September. Once their profile came back online on October 3rd, 2008 their profile was stripped of the satisfactory rating.