Posted by VT_Syrup on 2/23/12 12:31pm
Msg #412752

Vermont may crack down on structured settlement transfers

A bill is being considered in the Vermont House of Representatives that would crack down on transferring structured settlements. The person receiving the settlement would have to get advice from an independent professional adviser before the transfer. The independent professional adviser would have to be "an attorney, certified public accountant, actuary, or other licensed professional adviser".

If it passes, this would probably cut down on the number of signings of this kind offered to notaries. If the firms that do this are as bad at checking individual state laws as they are for mortgage witnesses and acknowledgement certificates, there could be a lot of signings that are done but don't hold up in court.

Reading between the lines, I think the legislature considers a lot of these transfers as sleazy, so I intend to steer clear of them whether the bill passes or not.

The bill may be read at

http://leg.state.vt.us/docs/2012/bills/Intro/H-730.pdf

Reply by Linda_H/FL on 2/23/12 12:34pm
Msg #412753

I didn't read the bill (yet) but I'm glad..

I find far too many people signing off on these because of the dollar signs and not because it's good for them.

Reply by JerryhFL on 2/23/12 2:45pm
Msg #412771

Re: I didn't read the bill (yet) but I'm glad..

I don't think I want politicians deciding what is good or bad for me. Especially when it's my money.