Monthly Archives: June 2014

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The Validity of Law is Not Related to Morality Structured Settlement Transfers & Independent Professional Advice

The Validity of Law is Not Related to Morality when it comes to Structured Settlement Transfers & Independent Professional Advice

 Structured Settlement Transfers, Legal vs. Moral

What is legal does not mean it is moral.  Do not confuse the two words.  Just because a judge can approve your transfer when you do not have an adviser, does not mean the judge agrees with what you are doing.  It just means it’s legal, (as long as you signed the “waiver”), not moral.  Not smart either.

What Can Be Moral and Legal (and smart)

Is that you are doing everything in your power to protect and inform yourself to get the best price possible for your structured settlement payments.  You have $1500 to hire an adviser for this purpose only.  That is legal and moral (and smart).

What Can Be Legal and Not Moral

The fact that you are loosing so much money in the first place, is legal, not moral.   But as long as you go in this contract with your eyes wide open, and you have a need right now in your life that warrants selling your payments, there is law in place that makes this legal, not necessarily moral.

There are multiple transfer companies that offer competitive prices for your payments; you might not have known that.   The transfer companies might not tell you this.  That’s legal, not moral.  But it’s good business practice on their part, not yours.  Your independent professional adviser can help you shop around for the best prices.

 

 Structured Settlement Advisor

 

AFG 
Structured Settlement  Transfers,  
Independent Professional Advisors
Structured Settlement Attorney Eugene Ahtirski
(855)313-3327
 
It is our intention here to show that having an Independent Professional Advisor in your structured settlement transfers is extremely important. As each case is very unique, only a trained =, experienced professional can see their way through the legal system correctly.
 

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Seller Voluntarily Backs Out of Transfer in San Bernardino

Seller Voluntarily Backs Out of Transfer in San Bernardino Superior Superior Court at the Last Minute 2014

 

 Transfer Started in December of 2013

The seller communicated with a transfer company in December of 2013 to sell their structured settlement payment rights.  The transfer company filed the proper court papers with San Bernardino Superior Court.  The hearing was set for February of 2014.  Then the hearing was then postponed until April 2014.

 

What Happened at the Postponed Hearing

In court, at the last minute, at the request of the sellers’ attorney, the claimant asked to be “dismissed” from the hearing.  In other words:  the seller completely backed out of the contract at the last minute.

 

This Does Go on Record

If the seller ever tries to sell their payments in the future, this failed attempt will show up to the next judge.  This case particular case will show up as “the matter is dismissed without prejudice”.  What does this mean?

 

Without Any Loss or Waiver of Rights or Privileges

“Dismissed without prejudice,” means that you are free to litigate the matter in court again, as if you never brought it to court before.  “Dismissed with prejudice” would mean you could not litigate the matter again.  That would happen if the court found that you purposely misled the court or intended to deceive the court.

 

Independent Professional Advisers

Independent professional advisers are officers of the court and are bound by an ethical oath not to deceive the court.  Remember, you can always back out of a transfer contract-even at the very last minute.

 

Structured Settlement Attorney Eugene Ahtirski

Seller Voluntarily Backs Out of Transfer in San Bernardino


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Example of a Violation that Could Deny Your Transfer of Structured Settlement Payment Rights

Example of a Violation that Could Deny

Your Transfer of Structured Settlement Payment Rights

Part I

 

Reminder:  This is Why You Want an Independent Professional Adviser… 

Structured Settlement Protection Act Experts

Structured Settlement Protection Act Experts

…to avoid snags,  delays,and a Violation that Could Deny Your Transfer of Structured Settlement Payment Rights.  The following example is a real life snag:

Example One:  The transfer company gave you, the payee, the disclosure statement 9 days before you executed the transfer agreement, not “ten or more days before the payee executes a transfer agreement.”[1]  In other words, when the hearing takes place, the judge will find out when you were given the statutory disclosures, or when you were given the rules to the game by the transfer company.

 

The law states that the transfer company is supposed to give you the “rules to the game” or the disclosure statement 10 or more days before you enter into agreement.

 

Why Does the Judge Want to Know This?

They want to make sure that you have had more than enough time to contact an independent professional adviser with your busy schedule.  That you are told about the financial implications of what you are about to do.  The court believes that less than 10 days is not enough time.  If this is violated, the transfer cannot happen.  It would be against the law.

 

What Happens Now?

The court could give you a chance to amend your petition to fix the problem and provide correct information so that the transaction could be better assessed, if you desire.

 

[1] INS. CODE 10136 (b).

 

Contact:

AFG LLC
(8555)313-3327
afg@earlycash4u.com
 

Structured Settlement Attorney Eugene Ahtirski

 
These are just examples of what could happen in your case, and should not be considered as legal advice. As each transfer case is unique and should be evaluated on it’s own merits, to warrant true and precise  Independent Professional Advice. The Law Offices of Eugene Ahtirski and  AFG LLC, ( a wholly owned and operated entity of the law offices of Eugene Ahtirski) can evaluate your case to find and explain the unique aspects of Your Transfer of Structured Settlement Payment.

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Number One Question in LA County When Selling Structured Settlements

The Number One Question in LA County When Selling Structured Settlements:

 

Do I have to go to court if I want to transfer my structured settlement in Los Angeles County California?

Yes, but you are not being summoned to court; there are no plaintiffs or defendants; no one is suing anyone; it is a formal court proceeding with a judge and opposing sides present-but no jury.  It is a “hearing”.

Who Contacts the Court First to set up the hearing?

The transfer company hand delivers the formal written request to the Court asking for a specific judicial action.  It is a “petition”.  The formal phrase is:  “Special Actions Hearing on a Petition”.

It’s Like Buying a Car

 The concept of the structured-settlement-transfer-agreement-contract is similar to the contract when you buy a car.  Providing for both types of contracts are the Consumer Protection Laws.

Except with the structured-settlement-transfer-agreement-contract, a judge must approve it, AND you have to an adviser, guiding you about the legal, tax, and financial implications of what you are doing.

Why?

More stringent Consumer Protection Laws with the sale of Structured Settlements.

Questions like these come up all the time, there are also a lot of questions . It is our job as consumer protection firm to make sure all your questions are answered.

AFG
Structured Settlement Attorney Eugene Ahtirski
afg@ealycash4u.com
(855)313-3327

Providing no cost Independent Professional Advise to sellers of structured settlements in California.

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