What the Transfer Company Can’t
Category : IPA
By AFG Newswire Nov.22, 2014 2:52 p.m. Block 13.4 Article 2.3 Transfers of Structured Settlement Payment Rights
Part 2 California Residents: What the Transfer Company Can’t Make You Do
- 10138(a)(1) “Any provision that waives the seller’s right to sue under any law, or in which the seller agrees not to sue, or that waives jurisdiction or standing to sue under the contract.”
You have a lot of rights as the seller of structured settlement payment rights. One of them is your right to sue the transfer company if need be; or not to sue. Either way §10138(a)(1) tells the transfer company they cannot include a condition in the transfer agreement that restricts the seller from suing them under any condition.
This code was created because somewhere down the line millions of consumers were unable to sue the transfer company-for whatever reason-because of a clause written in the contract by the transfer company binding the consumer not to sue the transfer company.
As a U.S. citizen with no felonies, it is your right to sue. This kind of wording, or provision in a contract is what we call oppressive, and unjust.
Clearly the transfer company is the dominant party with the upper hand: they are in charge of drafting the contract, they have several attorneys working for them, and they are the corporation, not you. You are a private person probably not well versed in contract law, let alone the California Code of Insurance 10134-10139.5.
One way you can get an upper hand is to hire an independent professional adviser that can provide insight on what to expect in the court proceedings. Call today for a consultation. We can walk you through the steps.