Haiti disaster hits home for Client First Settlement Funding employee, and native Haitian Westman Senat
BOCA RATON, Fla., Jan. 19 /PRNewswire/ -- In the aftermath of Haiti's largest recorded earthquake since 1770, an estimated three million people are in need of emergency aid and supplies. For Client First Settlement Funding, a structured settlement funding firm, the earthquake has hit home on a personal level, and it is taking action to help the Haiti relief effort.
Westman Senat, a researcher for Client First Settlement Funding and a native Haitian, today left for Haiti along with a team of seven to bring needed supplies into the suffering country. This past week, the structured settlement funding company collected clothing and food donations from employees. Maria Fregosi, COO of Client First Settlement Funding, matched all monetary donations from employees.
"My heart goes out to everyone affected by the Haiti earthquake," Fregosi said. "We can only do so much, but we're doing what we can. I am so appreciative that I work for a company that reaches out to the community, even foreign countries, when they need it most."
Senat's family currently lives in Haiti, and he hopes to reunite with them.
"My mom is okay. One of my brothers pulled her out before the house collapsed. Two of my brothers who live in Delmas are okay, but the one who lives in Petion-Ville is nowhere to be found. Please keep Berno Senat in your prayer," Senat said.
Due to the chaotic situation at the local airport, traveling in and out of Haiti is problematic. Senat and his team plan to meet two doctors in Santo Domingo where they will cross the border on the Bahona South side of the Dominican Republic to Haiti. While in Santo Domingo, the relief team will purchase supplies with the donated funds from Client First Settlement Funding.
About Client First Funding
Located in Boca Raton, Florida, Client First Settlement Funding specializes in purchasing and selling structured settlements and annuities nationwide, including alternative financial options for owners of structured settlements and self-owned annuities. Since it is a direct funder, it can get its clients the most money for structured settlement or annuity based on individual needs and circumstances. Client First Settlement Funding analyzes its clients' financial situation and works with them to develop an ideal solution.
Source
Monday, February 15, 2010
Thursday, January 28, 2010
Superdome Commission is trying to work its way out of a bond deal gone bad
While the Saints have filled the Superdome to the rafters with football fans this season, the state government has had to fill the financial gaps that could have sunk the agency that oversees the stadium and other facilities.
Aside from the needs of its operational budget, the Superdome Commission is trying to work its way out of a bond deal gone bad, a nagging topic that came up again at a State Bond Commission hearing Thursday.
When the government securities market went sour last year, the state came to the rescue and acquired nearly all the Dome Commission's bonds, partly because of the high-profile nature of the nationally recognized asset, but it set in motion a chain of potential problems.
"If it were not the Superdome, we would not have gotten near these things," said state Treasurer John Kennedy, who chairs the bond commission. The situation is "just a bad dream (that) just keeps on giving," he said.
The Superdome, the New Orleans Arena and several other facilities are state properties overseen by the Dome Commission, which is supported largely with hotel tax revenue that has diminished since Hurricane Katrina. After the 2005 storm, the state issued bonds to refinance old debt and create $40 million for Dome improvements plus some working capital.
The bonds were structured with potentially volatile auction rates, which are vulnerable if the market of bond buyers dries up. That's what happened in early 2008, and the bond interest rates soared from about 4 percent to 12 percent.
The new debt burden was too much for the strapped Dome Commission, or as bond counsel Meredith Hathorn put it mildly Thursday, the rate "does not work on a cash flow basis." So the state acquired more than 99 percent of the $238 million in bonds at an interest rate of 1.25 percent.
The Dome Commission is suing financial giant Merrill Lynch for its role in the deal. The case is pending in federal court in the Southern District of New York. The bond commission rejected a settlement from Merrill Lynch offer in October and met again Thursday in executive session to discuss the litigation.
Meanwhile, the bonds could lose their federal tax-exempt status - a key selling point for government bonds -- if the state continues to hold on to them. State officials are anxiously awaiting a letter from the U.S. Treasury on whether the bonds can remain tax exempt until the state can place them back on the market.
"If we don't get the Treasury letter, we'll be stuck with these bonds forever," Kennedy said. "We might could sell them to Mississippi or something," he said, trying to find humor in an otherwise grim situation.
State officials want the bonds back out on the private market to relieve the burden on the state treasury.
Gov. Bobby Jindal signed a directive Wednesday authorizing Kennedy to continue maintaining the investment through 2010. A legislative panel also will weigh in on the matter this month.
Source
Aside from the needs of its operational budget, the Superdome Commission is trying to work its way out of a bond deal gone bad, a nagging topic that came up again at a State Bond Commission hearing Thursday.
When the government securities market went sour last year, the state came to the rescue and acquired nearly all the Dome Commission's bonds, partly because of the high-profile nature of the nationally recognized asset, but it set in motion a chain of potential problems.
"If it were not the Superdome, we would not have gotten near these things," said state Treasurer John Kennedy, who chairs the bond commission. The situation is "just a bad dream (that) just keeps on giving," he said.
The Superdome, the New Orleans Arena and several other facilities are state properties overseen by the Dome Commission, which is supported largely with hotel tax revenue that has diminished since Hurricane Katrina. After the 2005 storm, the state issued bonds to refinance old debt and create $40 million for Dome improvements plus some working capital.
The bonds were structured with potentially volatile auction rates, which are vulnerable if the market of bond buyers dries up. That's what happened in early 2008, and the bond interest rates soared from about 4 percent to 12 percent.
The new debt burden was too much for the strapped Dome Commission, or as bond counsel Meredith Hathorn put it mildly Thursday, the rate "does not work on a cash flow basis." So the state acquired more than 99 percent of the $238 million in bonds at an interest rate of 1.25 percent.
The Dome Commission is suing financial giant Merrill Lynch for its role in the deal. The case is pending in federal court in the Southern District of New York. The bond commission rejected a settlement from Merrill Lynch offer in October and met again Thursday in executive session to discuss the litigation.
Meanwhile, the bonds could lose their federal tax-exempt status - a key selling point for government bonds -- if the state continues to hold on to them. State officials are anxiously awaiting a letter from the U.S. Treasury on whether the bonds can remain tax exempt until the state can place them back on the market.
"If we don't get the Treasury letter, we'll be stuck with these bonds forever," Kennedy said. "We might could sell them to Mississippi or something," he said, trying to find humor in an otherwise grim situation.
State officials want the bonds back out on the private market to relieve the burden on the state treasury.
Gov. Bobby Jindal signed a directive Wednesday authorizing Kennedy to continue maintaining the investment through 2010. A legislative panel also will weigh in on the matter this month.
Source
Friday, January 15, 2010
Structured Settlement Company Fairfield Funding Hires New General Counsel
Fairfield Funding, a company specializing in helping those looking to sell structured settlement or annuity payments, has added a new general council to their financial team. Attorney Marc Harris has a great deal of experience and understanding of the often complex laws regulating structured settlements and other assets.
(Vocus) December 4, 2009 -- Fairfield Funding is excited to announce the addition of Marc Harris, an attorney with almost 14 years of experience in the cash flow business with an emphasis on facilitating the purchase of structured settlement annuities and lottery prize assets, to their skilled team of financial service specialists. Fairfield Funding is a funding company that specializes in helping people receive cash for structured settlement, annuity, and lottery payments. In order to make sure every customer receives full compensation for their future settlement or lottery winnings, the Fairfield team strives to maintain a workforce that is dedicated to providing accurate information and exceptional service. Mr. Harris’s abundant knowledge and outstanding reputation in the financial services industry undoubtedly makes him a great candidate for the position of General Counsel for Fairfield Funding.
Since 1996, Marc has worked as counsel in the asset securitization industry for two different companies that have processed over one billion dollars from those seeking to sell lottery winnings and structured settlement cash flows. He has extensive experience with each state’s legislative and regulatory process relating to the purchasing of these assets throughout the country. This knowledge is invaluable to the funding profession, because almost each state has its own specific law controlling the assignment of annuity or lottery winnings.
Marc is a 1992 graduate of Florida State University, and he earned his law degree from Nova Southeastern University in 1995. Aside from advising companies and their clients about smart and effective funding, Marc is also a professor of business law. His knowledge of structured settlement laws and experience teaching others make him the perfect fit for Fairfield Funding.
"I am very excited to join the Fairfield team,” said Fairfield’s General Counsel when asked his feelings about starting his new position. He continued, “Fairfield Funding’s intelligent financial model combined with its focus on customer satisfaction is changing our industry for the better. Their philosophy of deliberate growth greatly benefits clients who are looking to maximize the cash value from their structured settlement or sell annuity payments. I am extremely excited about helping Fairfield Funding provide quality information and outstanding service for our growing number of clients."
Fairfield Funding, a division of APIS, is a full service funding company specializing in the purchasing and funding of structured settlements, life settlements, pre-settlement, lottery payments, and can buy annuity payments. Collectively, Fairfield Funding management has over fifty years of experience in the financial services arena. The Atlanta-based company specializes in meeting both the short-term and long-term financial needs of its clients through low-cost funding transactions.
Source
(Vocus) December 4, 2009 -- Fairfield Funding is excited to announce the addition of Marc Harris, an attorney with almost 14 years of experience in the cash flow business with an emphasis on facilitating the purchase of structured settlement annuities and lottery prize assets, to their skilled team of financial service specialists. Fairfield Funding is a funding company that specializes in helping people receive cash for structured settlement, annuity, and lottery payments. In order to make sure every customer receives full compensation for their future settlement or lottery winnings, the Fairfield team strives to maintain a workforce that is dedicated to providing accurate information and exceptional service. Mr. Harris’s abundant knowledge and outstanding reputation in the financial services industry undoubtedly makes him a great candidate for the position of General Counsel for Fairfield Funding.
Since 1996, Marc has worked as counsel in the asset securitization industry for two different companies that have processed over one billion dollars from those seeking to sell lottery winnings and structured settlement cash flows. He has extensive experience with each state’s legislative and regulatory process relating to the purchasing of these assets throughout the country. This knowledge is invaluable to the funding profession, because almost each state has its own specific law controlling the assignment of annuity or lottery winnings.
Marc is a 1992 graduate of Florida State University, and he earned his law degree from Nova Southeastern University in 1995. Aside from advising companies and their clients about smart and effective funding, Marc is also a professor of business law. His knowledge of structured settlement laws and experience teaching others make him the perfect fit for Fairfield Funding.
"I am very excited to join the Fairfield team,” said Fairfield’s General Counsel when asked his feelings about starting his new position. He continued, “Fairfield Funding’s intelligent financial model combined with its focus on customer satisfaction is changing our industry for the better. Their philosophy of deliberate growth greatly benefits clients who are looking to maximize the cash value from their structured settlement or sell annuity payments. I am extremely excited about helping Fairfield Funding provide quality information and outstanding service for our growing number of clients."
Fairfield Funding, a division of APIS, is a full service funding company specializing in the purchasing and funding of structured settlements, life settlements, pre-settlement, lottery payments, and can buy annuity payments. Collectively, Fairfield Funding management has over fifty years of experience in the financial services arena. The Atlanta-based company specializes in meeting both the short-term and long-term financial needs of its clients through low-cost funding transactions.
Source
Monday, December 28, 2009
Cash For Personal Injury Structured Settlement
Personal Injury Settlement is the legal term to describe the compensation paid for physical injuries to the victim. Injuries like broken arms, broken legs, any physical disfigurement, burns and different type of scarring come under this category. Generally such injuries happen in work environments, road accidents and medical negligence. The victim can sue the responsible authorities for compensation against these types of injuries.
If injuries are minor they are mostly settled outside the court. Insurance companies can make one time down payment after negotiating with the victim. But if injuries are major and victim got some serious injuries leading to permanent disability, mental trauma or major financial loss a personal lawyer is required who can help you professionally in recovering for damages.
In most cases, the personal injuries are a result of workplace hazards or road accidents. For instance people working in production and construction industries get affected with diseases like asbestosis or lung cancer. Industrial wastes, pesticides, radiations etc can cause severe damage to workers health.
Sometimes personal injuries also arise due to medical negligence at hospitals. All these conditions in which it is difficult to assess the total damages legal court of justice is the best place for such settlements.
If settlement amount is huge, the court allows the companies to pay damages in installments. In such cases, victim receives small amounts of money every month.
But it is generally observed that injured person need immediate money to meet his medical expenses. Under such circumstances you can sell your settlement to some third party and can obtain instant cash for your personal injury settlement.
Source
If injuries are minor they are mostly settled outside the court. Insurance companies can make one time down payment after negotiating with the victim. But if injuries are major and victim got some serious injuries leading to permanent disability, mental trauma or major financial loss a personal lawyer is required who can help you professionally in recovering for damages.
In most cases, the personal injuries are a result of workplace hazards or road accidents. For instance people working in production and construction industries get affected with diseases like asbestosis or lung cancer. Industrial wastes, pesticides, radiations etc can cause severe damage to workers health.
Sometimes personal injuries also arise due to medical negligence at hospitals. All these conditions in which it is difficult to assess the total damages legal court of justice is the best place for such settlements.
If settlement amount is huge, the court allows the companies to pay damages in installments. In such cases, victim receives small amounts of money every month.
But it is generally observed that injured person need immediate money to meet his medical expenses. Under such circumstances you can sell your settlement to some third party and can obtain instant cash for your personal injury settlement.
Source
Tuesday, December 15, 2009
STRATEGIC CAPITAL, STRUCTURED SETTLEMENT INDUSTRY
Strategic Capital Corporation announces the launch of its new informational website for structured settlement and annuity holders. Strategic Capital Corporation is in business of helping clients exchange their future payments from sources like structured settlements, annuities, casino winnings and lottery winnings for cash.
New York, NY- November 2009 - Strategic Capital Corporation announces the launch of its new informational website for structured settlement and annuity holders. Strategic Capital Corporation is in business of helping clients exchange their future payments from sources like structured settlements, annuities, casino winnings and lottery winnings for cash.
The new modern website design offers user-friendly navigation and a content rich site which reinforces Strategic Capital as industry experts in the purchase of future payments. The website features a revamped quote request form, simple easy to follow descriptions of the services offered and one click access to the company experts for a no obligation quote or answers to any questions or concerns.
The new site also targets potential Spanish speaking customers by offering a page in Spanish and a dedicated customer service personnel. This option gives Spanish speaking customers an alternative when choosing a company to sell their structured settlement.
“My personal Strategic Team Members, did what they said they would do-and did it when they said they would do it,” Sam, Annuitant. This is just one of the handful of testimonials featured on the website that illustrates Strategic Capital’s genuine passion for helping clients get the most from their future payments.
The experts at Strategic Capital Corporation understand and respect the intricate details that go in to creating a structured settlement and as a result follow a simple straightforward process to better suit clients’ current and future needs. Whether a client needs to pay off medical bills, or further their education, our straightforward process was designed to make the process of selling your future payment fast, simple and flexible.
Structured Settlements Selling Process:
1. Understand your situation
2. Analyze your needs – and give you options
3. Complete all documents and encourage you to get independent legal advice
4. Court review and required approvals
5. Wire funds to you
Source
New York, NY- November 2009 - Strategic Capital Corporation announces the launch of its new informational website for structured settlement and annuity holders. Strategic Capital Corporation is in business of helping clients exchange their future payments from sources like structured settlements, annuities, casino winnings and lottery winnings for cash.
The new modern website design offers user-friendly navigation and a content rich site which reinforces Strategic Capital as industry experts in the purchase of future payments. The website features a revamped quote request form, simple easy to follow descriptions of the services offered and one click access to the company experts for a no obligation quote or answers to any questions or concerns.
The new site also targets potential Spanish speaking customers by offering a page in Spanish and a dedicated customer service personnel. This option gives Spanish speaking customers an alternative when choosing a company to sell their structured settlement.
“My personal Strategic Team Members, did what they said they would do-and did it when they said they would do it,” Sam, Annuitant. This is just one of the handful of testimonials featured on the website that illustrates Strategic Capital’s genuine passion for helping clients get the most from their future payments.
The experts at Strategic Capital Corporation understand and respect the intricate details that go in to creating a structured settlement and as a result follow a simple straightforward process to better suit clients’ current and future needs. Whether a client needs to pay off medical bills, or further their education, our straightforward process was designed to make the process of selling your future payment fast, simple and flexible.
Structured Settlements Selling Process:
1. Understand your situation
2. Analyze your needs – and give you options
3. Complete all documents and encourage you to get independent legal advice
4. Court review and required approvals
5. Wire funds to you
Source
Saturday, November 28, 2009
Schwarzenegger Receives Failing Grade from Consumer Rights Organization
Governor Schwarzenegger’s final verdict on a host of critical consumer protection bills this past weekend left consumer advocates disappointed. Of the 14 bills identified by the Consumer Federation of California (CFC) as most important, in only six instances did the Governor take the side of the consumer.
While acknowledging that the Governor signed several consumer protection laws, Richard Holober, Executive Director of the Consumer Federation of California stated: “We are disappointed that the Governor sided with big business interests and against consumers on the majority of bills that reached his desk. The Governor turned a deaf ear to California consumers on key food safety, automobile insurance and financial privacy proposals.”
The Governor signed three bad anti-consumer bills, vetoed five pro-consumer bills, and signed six pro-consumer bills. All bills on the list were authored by Democrats.
“Pro” Consumer Bills Vetoed by the Governor
AB 1512 (Lieu) – would have prohibited a retailer from selling baby food, infant formula, and over the counter medicine after the "use by" date on its packaging. Citing the need for the bill, CFC stated, “California consumers should have the right to purchase medications that are safe and effective and parents and children deserve assurances that their baby food is nutritional and healthy.”
SB 20 (Simitian) - would have required financial privacy security breach notices to inform potential victims of identity theft about the nature of the beach, and to include contact information for credit reporting agencies.
AB 943 (Mendoza) – would have prohibited a prospective employer from using consumer credit reports in the hiring process unless the report is related to job duties.
AB 261 (Salas) – would have clarified that California students’ privacy rights allow limited access to student records by law enforcement and election officials to further juvenile justice and voter registration.
AB 811 (John Perez) - would have prohibited check-cashers from manufacturing and selling false identification cards, or identification cards that closely resemble a state drivers’ license card.
Source
While acknowledging that the Governor signed several consumer protection laws, Richard Holober, Executive Director of the Consumer Federation of California stated: “We are disappointed that the Governor sided with big business interests and against consumers on the majority of bills that reached his desk. The Governor turned a deaf ear to California consumers on key food safety, automobile insurance and financial privacy proposals.”
The Governor signed three bad anti-consumer bills, vetoed five pro-consumer bills, and signed six pro-consumer bills. All bills on the list were authored by Democrats.
“Pro” Consumer Bills Vetoed by the Governor
AB 1512 (Lieu) – would have prohibited a retailer from selling baby food, infant formula, and over the counter medicine after the "use by" date on its packaging. Citing the need for the bill, CFC stated, “California consumers should have the right to purchase medications that are safe and effective and parents and children deserve assurances that their baby food is nutritional and healthy.”
SB 20 (Simitian) - would have required financial privacy security breach notices to inform potential victims of identity theft about the nature of the beach, and to include contact information for credit reporting agencies.
AB 943 (Mendoza) – would have prohibited a prospective employer from using consumer credit reports in the hiring process unless the report is related to job duties.
AB 261 (Salas) – would have clarified that California students’ privacy rights allow limited access to student records by law enforcement and election officials to further juvenile justice and voter registration.
AB 811 (John Perez) - would have prohibited check-cashers from manufacturing and selling false identification cards, or identification cards that closely resemble a state drivers’ license card.
Source
Sunday, November 15, 2009
Receiver Takes Over Fla. Law Firm as Investors Reveal Pitches
Markit, a global financial information services company, today announced it has agreed to acquire ClearPar from FIS. ClearPar is an automated syndicated loan operations platform used for the settlement of par and distressed loan trades in the U.S. and Europe.Markit will integrate ClearPar with parts of its WSO division, a provider of portfolio management software and services for the syndicated loan market, to create an electronic loan settlement platform for buy-side and sell-side market participants. The combination of ClearPar and Markit's loan business will help reduce counterparty and operational risk in the approximately $600 billion leveraged loan market by improving loan settlement times.
Lance Uggla, Chief Executive Officer of Markit, said in a release: "Markit has spent the past five years focused on all aspects of the loan market, from loan pricing, identifiers and indices to portfolio management software and services. Our acquisition of ClearPar enhances our loan offering and allows us to combine parts of Markit WSO, a platform that is used by the buy-side, with ClearPar, which is widely used by the sell-side. By bringing these two assets together, Markit will be able to connect the market electronically, creating significant operational efficiencies. I believe this will be well received by market participants and regulatory bodies alike."
Armins Rusis, Executive Vice President and Global Co-Head of Fixed Income at Markit, said in the release: "We are excited about the ClearPar acquisition and the positive impact it will have on the marketplace. The combination of Markit's loan processing and data platform with ClearPar's settlement system will allow us to introduce faster, more accurate settlement of loan trades. Existing and prospective investors in the syndicated loan market have been seeking a global solution for some time."
ClearPar, launched in 2001, is part of FIS's Advanced Commercial Banking Solutions (ACBS) division and provides a middle-office platform for trade settlement in the syndicated loan market. The platform supports primary assignments and secondary market trading for U.S. and European credits, including a distressed debt settlement service that launched earlier this year. Markit WSO provides data, software and services designed to make the management of syndicated bank loans and structured deals more efficient and accurate.
E.A. Kratzman, President of Katonah Debt Advisors, said in the release: "As a major investor in credit, I view the combination of Markit and ClearPar as the most positive step toward true automation of closing and settlement in the loan market in many years. Most market participants are eager to see syndicated loan processing and trade settlement achieve the levels of workflow speed and efficiency that have evolved in other financial markets."
Richard Levy, President of FIS' ACBS division, said in the release: "FIS is proud of the innovation we have brought to the commercial loan marketplace including LMA settlement and, most recently, distressed trade settlement. This transaction will allow FIS' ACBS division to sharpen its focus on its market leading Loan Servicing System and front-office suite of products in sales, syndication and loan trading."
Source
Lance Uggla, Chief Executive Officer of Markit, said in a release: "Markit has spent the past five years focused on all aspects of the loan market, from loan pricing, identifiers and indices to portfolio management software and services. Our acquisition of ClearPar enhances our loan offering and allows us to combine parts of Markit WSO, a platform that is used by the buy-side, with ClearPar, which is widely used by the sell-side. By bringing these two assets together, Markit will be able to connect the market electronically, creating significant operational efficiencies. I believe this will be well received by market participants and regulatory bodies alike."
Armins Rusis, Executive Vice President and Global Co-Head of Fixed Income at Markit, said in the release: "We are excited about the ClearPar acquisition and the positive impact it will have on the marketplace. The combination of Markit's loan processing and data platform with ClearPar's settlement system will allow us to introduce faster, more accurate settlement of loan trades. Existing and prospective investors in the syndicated loan market have been seeking a global solution for some time."
ClearPar, launched in 2001, is part of FIS's Advanced Commercial Banking Solutions (ACBS) division and provides a middle-office platform for trade settlement in the syndicated loan market. The platform supports primary assignments and secondary market trading for U.S. and European credits, including a distressed debt settlement service that launched earlier this year. Markit WSO provides data, software and services designed to make the management of syndicated bank loans and structured deals more efficient and accurate.
E.A. Kratzman, President of Katonah Debt Advisors, said in the release: "As a major investor in credit, I view the combination of Markit and ClearPar as the most positive step toward true automation of closing and settlement in the loan market in many years. Most market participants are eager to see syndicated loan processing and trade settlement achieve the levels of workflow speed and efficiency that have evolved in other financial markets."
Richard Levy, President of FIS' ACBS division, said in the release: "FIS is proud of the innovation we have brought to the commercial loan marketplace including LMA settlement and, most recently, distressed trade settlement. This transaction will allow FIS' ACBS division to sharpen its focus on its market leading Loan Servicing System and front-office suite of products in sales, syndication and loan trading."
Source
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