Structured Settlements in Mississippi
Structured Settlements in Mississippi
Structured Settlements in Biloxi, Greenville, Gulfport, Hattiesburg, Jackson, Meridian, Pascagoula, Southaven, Tupelo, Vicksburg, Mississippi by structured settlement expert John Darer at 888-325-8640. Structured settlements expert John Darer reviews the latest structured settlements news and information and provides expert opinion and commentary, including settlement planning issues/ ideas for settlement management, incisive Structured Settlement Watchdog® commentary that may be helpful to lawyers, plaintiffs, claims adjusters, judges, the news media, sellers and buyers of structured settlement receivables,and interested others. The style is spicy, informative, irreverent and effective. The most prolific structured settlements blog, Now in 19th Year! Check back daily for something new. Read more about What is a Structured Settlement? What is Settlement Planning? Structured Settlements for Minors Structured Settlements for Seniors
"Mississippi Burning" on Current Structured Settlement Protection Acts
It's Your Money and We Want It Now: Regulation of the Settlement Factoring Industry in the Era of Dodd-Frank and the Consumer Financial Protection Bureau 86 Miss. L.J. 151, 173-75 (2017) by Alexander Ash.
"Calls for reform in the structured settlement factoring industry have recently grown louder across the nation. However, those calls ring hollow and many recipients of structured settlements are suffering abuses at the hands of the structured settlement factoring industry. Structured settlements substitute a lump-sum award with periodic payments, protecting against spendthrift behavior. The purpose of a structured settlement is to provide an income stream for the long term care of an injured party, and by “factoring,” often at a heavily discounted rate, the rights to future payments form the settlement leads to this purpose being completely undermined.
The Missisippi law professor suggests a comprehensive approach enhancing existing protections, and layering in new federal regulation will advance the purpose of the structured settlement. Three solutions to protect the purposes of structured settlements and minimize unwanted outcomes in structured settlement factoring transactions. These include (1) increasing existing standards of review, (2) creating three protected “classes” of structured settlement recipients, and (3) regulating structured settlement factoring on an industry-wide scale with the Consumer Financial Protection Bureau. These proposals do not call for sweeping changes, but instead using existing mechanisms to protect the goals of structured settlements, as well as the recipients of structured settlements"
" Blue Bayou"
Indeed in the next state over, Louisiana's structured settlement protection laws could do with a little beefing up. A 2016 predatory deal, concocted by a personal injury lawyer in a position of superior knowledge and trust, may have taken financial advantage of a personal injury client a little more that one year after placing him into a large structured settlement, by entering into a structured settlement factoring transaction using an offshore company controlled by the lawyer and shafting his client for in excess of $1 million spread, in an awful deal that bore an effective discount rate in excess of 22% when a fair cost of money would have been less than a third of that amount. The documents submitted to Acadia Parish (twice) each contained false representations to the Court as to the discount rate and the documents in public record show the client's and his wife's social security numbers in plain text. An attempt was then made to pawn of the cash flows to other settlement purchasers for a profit through an intermediary. Read Personal Injury Lawyer Buys Client's Structure 1 Year After Settlement and Shafts Client in Awful Deal and Houston Plaintiff Lawyer's Company's Purchase of Client's Structure | "Crossing The Streams" for more details.