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

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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.