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Structured Settlement Scams Read About what to Avoid

The primary and secondary structured settlement industry is ripe with scams and misnomers purpoted by everybody from lawyers, citizens, and newspaper writers that tweet and write about things that are not quite the truth. It is important to read the reviews, fine print, and to see if you are being scammed in one way or the other.

Here are some things to watch out for:

Free money - there is no such thing. If you are offered a check for $10,000 read what it says below. You will probably have to do a deal to sell your future payments to receive the money. While it may be very beneficial as a consumer you will need to do yoru research first.

Taking Pre Settlement Loans - Sometimes its a gamble for a structured settlement company to offer money to an annuitant who is offering money in exchange for the commitmment to be the buyer of their structured settlement payment rights. While this is great the public often will flake and take the advanced money and not pay it back. Of course this can have legal sanctions and can be seen as fraudelent activity so it is very important to make sure that you follow an ethical line and course of action.

Forum Shopping - This is where you are a resident of one state but yet you receive a chance to go to a different state and sell your payments before a judge that is not the one you would be going before in your state. We should not have to discuss the ramifications and reasons why this can be seen as illegal and unethical.

Lawyers - Does the attorney put you into the structure settlement but asks to be paid his percentage all up front? This is a question that is asked many times. Who has who's best interest in mind.

Insurance Companies - Your insurance company that offered you the annual or monthly payments is now trying to repurchase your payment stream. Depending on what the reason is can be construed as you are welcome to see it.

Presetting Court Dates under John Doe Names - This is to hurry up the process of getting you into the court room and getting yourself paid. IF this backfires then the trouble getting your money ends up taking longer. It is a gamble that some do participate in and others do not. We do not share names of those in the structured settlement industry that have shady, unethical, and scamming practices as it is fair game and a part of doing business. This is just a way to let you know some of the scams that may be scrutinized in the industry.

There are a lot of players in the primary and secondary structured settlement industry. JG Wentworth Einstein, Peachtree, Novation, and the like all have different ways of doing business. We wish you the best of luck on selling your future payments.


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