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Imperial Charges a Record 82% Annual Interest on Structured Settlement Purchase
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Imperial Charges a Record 82% Annual Interest on Structured Settlement Purchase
Florida-based structured settlement purchasing company continues to charge
excessive rates in spite of recent court reprimand.
Boynton Beach, FL, November...
[Mehr]
Imperial Charges a Record 82% Annual Interest on Structured Settlement Purchase
Florida-based structured settlement purchasing company continues to charge
excessive rates in spite of recent court reprimand.
Boynton Beach, FL, November 11, 2010 -- In what appears to be a record high
discount rate charged for structured settlement transactions, Imperial Structured
Settlements, LLC of Boca Raton, FL tried to charge its customer an interest rate of
82%.
While Imperial is well known in the structured settlement industry for
charging high rates, this appears to be record setting and likely to draw even more
criticism of the courts.
Courts have criticized Imperial?s high discount rates in the past.
In a recent
court decision, the New York Supreme Court (case # 15008/09) wrote that Imperial s
interest rates were "neither fair nor reasonable taking into account the actual
amount [the customer] would be receiving.
[The customer] would be receiving less
than 1/3rd of the discounted present v
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