Comments by Ron Walters Against the Settlement Factoring Industry
Jake Stump of the Charleston Daily Mail published an article this morning about the pending legislation bill for structured settlement factoring companies in West Virginia. The new West Virginia bill would require the following:
- courts to appoint a guardian ad litem (attorney or other financial professional to act as the person's guardian in front of the court)
- changing the standard for approval from “best interests” to requiring clear and convincing evidence that the transfer is to avoid a financial hardship (and is in the seller’s best interest)
- companies buying structured settlement annuities would be required to pay their own attorneys' fees in court More...