There were 505 press releases posted in the last 24 hours and 170,443 in the last 365 days.

There's new not-for-profit in town, and it's name is Settlement Advocates of America

Settlement Advocates of America

Settlement Advocates of America

SAOFA is a new not-for-profit that was founded to create judicial awareness and transparency for structured settlement recipients and judges.

OLATHE, KANSAS, UNITED STATES, February 9, 2020 / -- Receiving a structured settlement from a lawsuit in the form of a monthly payment stream has been a way to settle lawsuits for over 35 years. Because some people need earlier access to their funds, a new industry was formed about 20 years ago called the settlement factoring industry.

You've probably seen the commercials on TV offering Cash Now and Cash Advances for your settlement payments. These companies offer pennies on the dollar in most cases by transferring ownership of people's monthly payments and giving the settlement recipient a lump sum of cash.

David MacDonald, CEO of Settlement Advocates of America (SAOFA) said, "The intention of a structured settlement is to give someone a payment stream that would help them throughout their lifetime. Obviously, life's circumstances can change and people need access to those funds sooner. This time of need is when the factoring companies can take advantage of settlement recipients."

Since the early 2000s states have created statutes that allow judges to decide if a settlement payment transfer is in the best interest of the annuitant. The statutes that were created are very convoluted and do not give any indication of how much profit is actually being made by the factoring company.

"Our mission is to educate judges and lawyers as well as the annuitants through seminars, conferences and outreach programs. We also audit current cases to make sure annuitants are getting treated fairly and provide alternate funding through our advocate program if necessary." Said, Mr. MacDonald.

SAOFA has several programs they have started. One of them is an advocacy program designed to work directly with settlement recipients to make sure they are making the right choice at their time of need.

Another program focuses on judicial awareness working with judges and lawyers providing a transparent view of what a settlement payment stream is really worth when an annuitant sells their payment stream giving judges a clear picture of what's really in the annuitant's best interest.

SAOFA is also breaking new ground in the industry by educating plaintiff attorneys and judges on new ways to set up a structured settlement that will not be able to be factored.

Settlement Advocates of America is a nationwide not-for-profit organization that helps people navigate the complex structured settlement factoring process. For more information please visit us at

Craig Peterson
Settlement Advocates of America
+1 8885371969
email us here

EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.