Block 17.1 Article 2.3 Transfers of Structured Settlement Payment Rights Forget About Signing Any Waiver for Your Transfer of Payment Rights: This Contract You Don’t Control 10139.3(a) None of the provisions of this article may be waived by the payee. Do you notice how 10139(a) states “this article”? That means this entire code, not just the transfer agreement, or just the disclosure statement within the code, but the entire code itself, CA Insurance Code 10134-10139.5 cannot be waived by the payee. The person selling the structured settlement payment rights, cannot deliberately abandon any terms of the […]
When the Independent Professional Adviser is Written Out of the Contract by an Unwary Transfer Company
This results in a denial to your petition
Unfortunately, this happens today, as current as a few months ago in 2014. Not all transfer companies are unwary. This doesn’t mean the problem can’t be fixed. You can go back and petition again if the problem is amended.
The transfer company is required to pay up to $1,500 for an attorney or other professional to advise you; this is called the independent professional adviser.
It doesn’t matter if you the payee:
a. go through with the transfer
b. the transfer is denied
c. whether the attorney shows up to court
d. if you use all of the $1,500
e. switch attorneys
f. spend a little here, and a little there – incrementally
It is the law that the transfer company (transferee) pays up to $1,500
The transfer company, or any other entity does not have the authority to ignore that responsibility. The transfer company does not have the authority to write into the contract that they are going to pay all costs “except for the fees and expenses charged by any attorney representing Seller…” That is against the law.
 INS. CODE 10139(h) “the transferee shall pay the fees of the payee’s counsel, accountant, or actuary, regardless of whether the transfer agreement is approved, and regardless of whether the attorney, accountant, or actuary files any document or appears at the hearing on the petition for transfer, in an aggregate amount not to exceed one thousand five hundred dollars ($1,500)”
Originally posted 2014-12-30 23:34:17. Republished by Blog Post Promoter
The post When the Independent Professional Adviser is Written Out<span class="entry-meta">Originally Posted on December 30, 2014 and reposted on March 18, 2019</span> appeared first on Structured Settlement Expert.
IF YOU ARE A SELLING A STRUCTURED SETTLEMENT – YOU NEED TO READ THIS! Regardless of how simple the TV commercials and web-ads make it sound, any sale of a structured settlement requires Court Approval! What this means is that if you are thinking of a selling your structured settlement, you must first go to court and get a judge to approve the sale. More important, the judge must also make the decision that selling your structured settlement is in your best interests, or the sale of your structured settlement payments will be denied. Fact, this is true no matter […]
The post IF YOU ARE A SELLING A STRUCTURED SETTLEMENT – YOU NEED TO READ THIS! appeared first on Structured Settlement Attorney 800.200.4384.
The post IF YOU ARE A SELLING A STRUCTURED SETTLEMENT – YOU NEED TO READ THIS!<span class="entry-meta">Originally Posted on December 30, 2014 and reposted on March 18, 2019</span> appeared first on Structured Settlement Expert.