Reason to have a Structured Settlement Advisor

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Reason to have a Structured Settlement Advisor

Just another reason to have a Structured Settlement Advisor

I just came across this article which shows just why it is so important when selling your structured settlement you seek Independent Professional Advice from a Structured Settlement Attorney that works independently protecting the rights and best interests of the sellers.

It is unclear at this time what ramifications this could have on those transfers of structured settlements, but it is sure going to cause a ripple effect that will come back on the original sellers.

http://www.insurancejournal.com/news/national/2015/07/14/374928.htm

Stone Street Capital LLC sued a Manhattan law firm it retained to seek court approvals for structured settlements, claiming the firm gave them 76 fake judicial orders.

The Maryland-based company, which purchases the rights to structured settlements from individuals in exchange for lump-sum payments, hired Paris & Chaikin PLLC to file the papers in state courts in New York seeking approval of the sales.

In addition to the firm, the company sued partners Jason Paris and Ian M. Chaikin and a paralegal, Thomas Rubino.

Paris and Chaikin told Stone Street they were experienced in presenting structured-settlement transactions to New York courts, the company said in a filing.

The firm advised Stone Street to send them the case files, which would be assigned to Rubino, “who was experienced in handling these types of files,” the company said. The law firm told Stone Street Rubino would be supervised at all times, according to the complaint.

Stone Street sent more than 100 files to Paris & Chaikin, from 2009 to 2013, with Rubino as the company’s main point of contact. The firm advised Stone Street of court scheduling matters and would send Stone Street “a file stamped order,” the company said.

In October 2013, Chaikin and Paris visited their client to advise that they had “uncovered irregularities” and were aware of at least one phony court order, Stone Street claims. The firm was uncertain how many others like it there might be.

Seventy-six court orders were falsified, Stone Street claims. When it disclosed the problems to the insurance companies, they stopped making payments to Stone Street and institutional investors, the company said in a filing.

The law firm, Chaikin and Paris “failed to exercise the care, skill and diligence commonly possessed” by the legal profession, Stone Street said. They also did not properly supervise Rubino, the company claims.

Chaikin, Paris and Kevin Szczepanski, the lawyer representing Stone Street, didn’t respond to calls seeking comment about the lawsuit. Rubino could not be contacted.


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Structured Settlement Advisor

New Hampshire Transfer Payment Rights

New Hampshire Residents:  MuStructured Settlement Advisorst go out of State to Transfer Payment Rights

You may have an opportunity to still transfer structured settlement payment rights even though New Hampshire does not have a Structured Settlement Protection Act.

 

According to the National Association of Settlement Purchasers, “This state [New Hampshire] does not yet have its own structured settlement transfer law enacted.  People who live there MAY be able to transfer their structured settlement payment rights under the law of the state where the insurance company is based.”

 

There are two insurance companies involved, a Life Insurer and a Casualty Insurer, whose offices may be in multiple states.  Which state do you choose?  Did you know that different states and different counties will offer you a different price on your dollar?

 

Which state will best protect you and give you the most amount of money for your dollar?

 

We’re a nation-wide independent professional advisor.  Not only can we help locate and contact the insurance companies for you, but we are able to negotiate a better price for your dollar.

New Hampshire Transfer Payment Rights

Let us help.  Call today for a free consultation.

Andres Financial Group, is a highly professional group in Independent Professionals providing advice in the transfer of structured settlements. Associates across the US, with the ability to pool all our resources in your best interest.

IPA services include but are not limited to; best interest advice, fair market analysis, court document review, & court appearance.

We pride ourselves on getting 90% of our cases approved the first time in front of the judge. We do not accept a denial as a possible decision, and will seek to keep the case open should the judge attempt to deny.

New Hampshire Transfer Payment Rights


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Structured Settlement Advisor

Missouri advice from Disinterested Counsel

Missouri Residents:  You are required to receive advice from “Disinterested Counsel”

Below we cite the Missouri code that defines “Disinterested Counsel” and we cite the actual “requirement” code for disinterested counsel during the transfer of your structured settlement payment rights.  Missouri residents do not have a choice,  you must obtain disinterested counsel to transfer your payment rights.  We are a “disinterested counsel”.  Read on:

 Structured Settlement Advisor

  • 407.1060(4) “Disinterested Counsel”, legal counsel that has no business relationship with any transferee of structured settlement payment rights, will not receive any compensation directly or indirectly from any such transferee in connection with representing the payee, and whose compensation for representing the payee will not be affected by whether the transfer occurs or does not occur;

 

  • 407.1062(6) The payee has been represented by disinterested counsel in connection with the transfer or the payee understands the nature of the transaction and the economic consequences of the transaction.

 

Disinterested counsel is the same as “independent professional advisor”. We are a nation-wide disinterested counsel that can help you.  Call today for a free consultation.

Missouri advice from Disinterested Counsel

Andres Financial Group, is a highly professional group in Independent Professionals providing advice in the transfer of structured settlements. Associates across the US, with the ability to pool all our resources in your best interest.

IPA services include but are not limited to; best interest advice, fair market analysis, court document review, & court appearance.

We pride ourselves on getting 90% of our cases approved the first time in front of the judge. We do not accept a denial as a possible decision, and will seek to keep the case open should the judge attempt to deny.


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Structured Settlement Advisor

Minnesota Independent Professional Advice

Minnesota Residents:  You must receive independent professional advice

If you reside in Minnesota and are interested in selling your structured settlement payment rights, you must obtain the advice from an independent professional adviser.

AFG Logo small

Below we cite the code that defines independent professional advice, and we cite the code that REQUIRES you to obtain independent professional advice:

 

  • 549.30 Subd. 6. [INDEPENDENT PROFESSIONAL ADVICE.] “Independent professional advice” means advice of an attorney, certified public accountant, actuary, or other professional adviser:

(1) who is engaged by a payee to render advice concerning the legal, tax, and financial implications of a transfer of structured settlement payment rights;

(2)  who is not in any manner affiliated with or compensated by the transferee of the transfer; and

(3) whose compensation for providing the advice is not affected by whether a transfer occurs or does not occur.

 

  • 549.31(d) the payee has received independent professional advice regarding the legal, tax, and financial implications of the transfer.

 

We are a nation-wide independent professional adviser, we can help.  Call today for  a free consultation.

Minnesota Independent Professional Advice

Andres Financial Group, is a highly professional group in Independent Professionals providing advice in the transfer of structured settlements. Associates across the US, with the ability to pool all our resources in your best interest.

IPA services include but are not limited to; best interest advice, fair market analysis, court document review, & court appearance.

We pride ourselves on getting 90% of our cases approved the first time in front of the judge. We do not accept a denial as a possible decision, and will seek to keep the case open should the judge attempt to deny.


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Structured Settlement Advisor

Maryland Independent Professional Advice

Maryland Residents:  You must have independent professional advice

 Structured Settlement Advisor

If you are a Maryland resident and you are interested in selling your structured settlement payment rights, you must obtain independent professional advice.  Below we cite how Maryland defines independent professional advice, and then we cite the code that REQUIRES you to have independent professional advice.

 

  • 5-1101(c) Independent professional advice.–“Independent professional advice means advice of an attorney, certified public accountant, actuary, or other licensed professional adviser:

(1) Who is engaged by a payee to render advice concerning the legal, tax, and financial implications of a transfer structured settlement payment rights;

(2) Who is not affiliated with or compensated by the transferee of the transfer; and

(3) Whose compensation is not affected by whether a transfer occurs.

 

The Maryland code that REQUIRES you to have independent professional advice is:

  • 5-1102(b)(3) The payee received independent professional advice regarding the legal, tax, and financial implications of the transfer.

 

We have nation-wide independent professional advisers.  Call today for a free consultation.

Maryland Independent Professional Advice

Andres Financial Group, is a highly professional group in Independent Professionals providing advice in the transfer of structured settlements. Associates across the US, with the ability to pool all our resources in your best interest.

IPA services include but are not limited to; best interest advice, fair market analysis, court document review, & court appearance.

We pride ourselves on getting 90% of our cases approved the first time in front of the judge. We do not accept a denial as a possible decision, and will seek to keep the case open should the judge attempt to deny.