Litigation

Shouldn't It Be The Judges Responsibility to See That Factoring Company "Servicers" Are Bonded As Part of Judge's Oversight of Structured Settlement Factoring Transactions?

By John Darer

Much has been said of the state structured settlement protection acts which leave it to a judge to determine if the structured settlement factoring transaction is in the plaintiff's "best interest". Many judges are already doing a great job. But here's something that must be addressed.

It is imperative that JUDGE who reviews a structured settlement factoring transaction determine whether or not a servicing agreement will be in place as the result of the judge's approval of the transaction.

If such an agreement is to be in place shouldn't that purchaser be required to post a bond? Judges need to be acutely aware that the issue must be addressed in their review. Nobody has spoken out of the consequences to the annuitant if the "servicer" goes Chapter 7 and the judge is the last line of defense

Full post as published by Structured Settlements 4Real on August 12, 2009 (boomark / email).