SAOFA is an organization that was formed to fight the predatory purchasing of individuals structured settlement payments. These settlements were originally setup to help people throughout their life that were injured due to an accident. Head injuries, lead paint exposure, burns, loss of limbs or death of a loved one are just a few reasons people are put in this type of settlement.
These ongoing payments they receive were setup to pay for life’s events. Sometimes life’s situations change and people are left with no choice but to sell some or all of their settlement payments. Unfortunately, the companies that are purchasing these payments meant to help people for a lifetime are paid a fraction of what they are worth. In some cases, the company purchasing the payments will make more profit than their customer receives.
One of our clients was in a very bad car accident and her injuries prevent her from ever working again. Because of her injuries she was given a structured settlement that pays for her needs with monthly payments over time. Unfortunately, life events changed and she needed to sell part of her structured settlement. She was set to receive $22,000 for the payments she was selling. We stepped in and helped her get an additional $24,000 from the company she was working with for the same payments she was selling an kept her original court date.
These settlement purchasing companies run TV ads and routinely reach out to people with structured settlements by scouring court records and contacting these people to get them to sell their settlement payments.
Our organization helps guide settlement recipients, judges and lawyers through the process offering a true value of their settlement’s worth and stop the predatory purchasing through judicial intervention.