HOUSTON--(BUSINESS WIRE)--RSL Funding, LLC, an industry leader in funding structured settlements for customers in financial need, today announced its plans to expand further into Southern Florida in an effort to help customers and employees affected by the recent turmoil among two prominent structured settlement companies, Imperial Structured Settlements’ parent company and Peachtree Settlement Funding. Because customer service is paramount to RSL, the company has plans to open an office in Palm Beach County, Florida in early 2012 as well as hire employees locally to staff the growing company, giving it even more resources to provide much-needed assistance to clients.
According to the Palm Beach Post1 and other major news organizations, FBI agents and Boca Raton police closed the offices of finance firm Imperial Holdings, the parent company of Imperial Structured Settlements, on September 27, 2011 as federal officers executed a search warrant. In addition, many of those same news agencies reported that Imperial Holdings reported a loss of $15.7 million in 2010, lost money in 2008 and 2009 and its stock has fallen more than 80 percent this year. The trouble continues as new published reports say that the government probe of Imperial is widening2.
“Imperial is a recent entrant into the structured settlement, annuity and lottery purchasing business. Imperial Holdings’ recent FBI raid presents immense problems for Imperial’s structured settlements business. This type of negative activity and news makes it challenging for even well-capitalized, customer service-oriented companies to survive,” said Stewart Feldman, CEO of privately held RSL Funding. “We work hard every day to build rapport and establish trust, while providing clients with the most money for their deals.”
In addition to concerns about Imperial, Peachtree’s recent merger with industry giant JG Wentworth3 causes concern, especially for the 150+ employees in Southern Florida who were displaced because of the merger. “We feel that this merger, coupled with what we imagine to be concern by Imperial employees as to their working conditions after the raid, serves to enhance RSL Funding’s growth in the Southern Florida marketplace, providing us with disenchanted clients who want a trusted, well-capitalized company that provides the best deals available and employees who want to work for a leader in the industry.”
RSL Funding, LLC is an industry leader in funding structured settlements. The Houston-based company has refined the process of getting cash to clients quickly and efficiently. Clients who wish to cash out or sell structured settlements, annuities, lotteries and other long-term receivables – either in whole or in part – find RSL knowledgeable and experienced. RSL specializes in the purchase of annuities, which are payable over a term-certain period, and those which are payable on a life contingent basis, beyond any term-certain period.
Many of the company’s clients are those who have found other settlement companies unable to finalize their transfers. RSL Funding’s affiliated law firm allows the company to expedite its purchase of clients’ settlements; and RSL’s ability to get clients’ immediate cash for collateral gives this leading company its well-earned reputation for performance.
Footnote:
1 - http://www.palmbeachpost.com/money/fbi-police-raid-boca-raton-financial-firm-1882412.html
2 – http://online.wsj.com/article/SB10001424052970203791904576611432074232502.html
3 - http://news.yahoo.com/woodbridge-structured-funding-expects-j-g-wentworth-peachtree-130214786.html