In part two of our series discussing the recent SEC and FINRA bulletin on pension and settlement income streams, we are joined again by Attorney Matt Bracy of the firm Nesbitt, Vassar & McCown of Dallas, TX to look at the questions raised by this alert.
As explained in this video, selling your structured settlement income stream to a third party, or factoring company, is an important decision that should not be entered into as a result of an impulsive decision after watching a TV commercial. It requires professional guidance and under state law requires court approval and a hearing in front of a judge to assess the transaction and determine if it meets the standard of being in the best interest of the person looking to sell.
Learn more about this process, the SEC bulletin and other issues related to the sale of structured settlement income streams in this three part series that is featured on legalbroadcastnetwork.com and thefactoringchannel.com. Also, watch for part three of this in depth series on the issues related to the sale of structured settlement income streams and the purchase of secondary market annuities later this week.