Thursday, September 10, 2015

Structured Settlements Are Structured for a Reason

The Washington Post recently did an investigative report on companies that buy "structured settlements" from people in Baltimore who are due to receive money each year, based on a court settlement for damage done to them by lead.

Melissa Harris Perry did a story on this, summarizing the problem and interviewing the WaPo reporter. Buying out structured settlements happens locally also, as I wrote back in 2011

People who receive structured settlements get their money in this fashion for a reason, and the payments should stay structured over time.

These vulnerable adults need to be protected from predatory practices, like payments of 6 or 11 cents on the dollar. This business model should be illegal.

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