When you are planning to purchase structured settlements, care should be taken so as to avoid being swindled.
You will find that there have been known cases where people who purchase structured settlements are conned by unscrupulous dealers.
This is because of the fact that many of the people who buy these structured settlements are not able to differentiate a fake document from an original one.
Care should be taken when you want to purchase structured settlements. There is an incidence of some con men who tricked a buyer of structured settlements into paying them the lump sum that they had.
They forged documents saying that a colleague of theirs, had won over five million dollars in the lottery.
These people were so professional that they set up offices and even had the use of a court room. The process they used was that they made an office that looked like a branch of the said lottery company.
This was to confirm that the lottery company had indeed given the prize to the person who wanted to sell his structured settlement.
From this point, they managed to set up a court setting next to the local court house. They got people to act as judge, attorneys, bailiffs etc.
Now the purchaser of the structured settlement had all the assurance he needed that the structured settlement was indeed genuine.
He did not need to search further or make any inquiries as the person he was dealing with seemed to know little about the structured settlement issue.
Furthermore, the so called “colleague” of the owner of the structured settlement had told him that the person who had won the lottery would be happy with a settlement of only 3.5 million.
This meant that he had over 1.5 million shillings on that particular settlement only. This greed blinded him and he ended up purchasing the structured settlement.
To make matters worse, he paid it in cash. By the time he realized, there was no such thing and all the buildings and offices that he entered were gone.
To make matters worse, the names the con artists used were of people who had died in the previous month.
Next time you want to purchase structured settlements, be sure to make thorough and verifiable inquiries. This would help you avoid such cons and scams.
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