Fraud in the structured settlement secondary market appears to continue unabated. One of the latest scams seems to involve transfer companies that obtain court orders authorizing an annuitant to sell his/her periodic payments, and then the company fails to pay the seller. The seller is then faced with chasing down the company or figuring out a way to go back to court and have the court order set aside. This situation is exacerbated by fly by night companies with no track record and no real business.
Not one of the 49 state structured settlement protections statutes allows a company to obtain a court order authorizing the sale of periodic payments and then fail to pay the Seller. This is fraud. Plain and simple.
If you are a “Seller” and did not receive payment pursuant to a transfer order, please contact us at (203) 504-8425 or via email at email@example.com.