I have been in the structured settlement funding business for 7 years. In the past 6 months I have observed some funding companies make a commitment to buy certain structured settlement annuity payments from payees but then either be unwilling or unable to complete the transaction at the committed price, either abandoning the deal altogether or attempting to negotiate a lower price at the 11th hour. While the well publicized credit crisis has affected our industry and this may have been a legitimate cause for deal renegotiation a few months back, it would seem that the practice described above is continuing to this day.
In my view it is wrong for a funding company to negotiate a price that at inception it knows it cannot honor or has a reasonable expectation it cannot honor so as to lock in a seller and then later conduct a bait and switch game.
Genex Capital does not and shall never engage in such practice. Our prices are based on current funding commitments, not future hopeful commitments.
If you are a prospective seller, you should do your homework on the funding company you are considering engaging to make sure they have a solid track record.
I would be happy to personally discuss our track record with any prospect considering Genex Capital. Feel free to contact me at 302-356-1522 FREE.