Litigation

This author has now learned that there WAS a structured settlement broker who referred the structured settlement factoring deal to Bentzen Funding Solutions whose offer to a New York annuitant was bettered by 50% by another factoring company. We're not talking chump change here folks, the difference was in excess of $40,000!

Purportedly the broker WAS NOT going take any commission. Even if this is in fact true, it bodes a very serious warning to any settlement planners or structured settlement brokers. The structured settlement broker in question purportedly did little more than ask around and one of the people he asked said to call Rhonda Bentzen. Rhonda Bentzen may be a former structured settlement broker and may be the only factoring company member of the Society of Settlement Planners AND the only factoring representative on the Board of the Society of Settlement Planners. But Rhonda Bentzen is not the only game in town. Despite her previous remonstrations she will have to concede she choked on this one and cannot get the best deal every time.

There is no secret that there are structured settlement brokers and settlement planners offering to help callers and clients with structured settlement factoring tranactions. The degree of help varies and the number of people taking kick backs and referral fees varies. But thinking you are helping your client or prospect out by referring business to a single funding source, without competitive bidding, has the potential to back fire. In this case it did in spectacular fashion.

Read yesterday's coverage of this story for background by clicking here