Category : IPA
Residents of Riverside County are provided with a variety of services and programs that make this county an ideal place to live and play. Riverside County is the fourth largest county in the state, stretching nearly 200 miles across and comprising over 7,200 square miles of fertile river valleys, low deserts, mountains, foothills and rolling plains.
Although the county marks its political beginnings in 1893, the land was occupied long before Europeans and their descendants entered the areas, by several Native American groups including the Serranos, the Luisenos, the Cupenos, the Chemehuevi, and the Cahuillas. One of the first Caucasians to travel through the area was Juan Bautista de Anza who led an overland expedition in 1774.
Recent years have brought dramatic population growth to Riverside County. Between 1980 and 1990, the number of residents grew by over 76%…making Riverside the fastest-growing County in California. By 1992, the County was “home” to over 1.3 million residents…more than the entire population of 13 states, among them Maine, Nevada, Hawaii, and New Hampshire.
With that growth has come the usual trials and tribulations, which have had a direct effect on the court systems. Riverside County is one of the first counties in the state of California to start assigning structured settlement to one central court room. This is in an effort to reduce court costs while still maintaining their role as a protector of the consumer. The courts primary object here is to protect the sellers of these structured settlement payment from large corporations looking out for their own bottom line. With dwindling court resources that was difficult to provide adequate resources to protect the best interest.
That is when the Riverside courts realized the use of the Independent Professional Advisor, discussed in the California state statue would reduce that burden upon the court. Also insuring that less people would sell their only source of income, their payments and become a burden of the state or county.
By continuing a hearing in order for a payee to get Independent Professional advice or appointing an independent professional advisor, the court has found a way to protect the consumer, get the payees who legitimately need the money relief, and reduce the costs of research attorneys. Pushing that financial burden onto the person who stands to make the most out of the transfer, the purchasers.
The judge in these matters does not have a problem approving the transfers on the first hearing provided all of his concerns are met. First being that the payee received Independent Professional Advice from a Qualified Independent Professional Advisor. Our Structured Settlement Attorney‘s routinely get these cases approved jumping in as the IPA right before the hearing. As long a s you understand the judge and what he requires it is simple, but a lot of factoring companies still choose to attempt to get approvals without paying for the payees IPA and end up costing themselves and the payee time and money.
Beware and do your homework is the best thing i can say before walking into a court room.Andres Financial Group Independent Professional Advisors (855)313-3327 Structured Settlement Attorney Eugene Ahtirski