Structured Settlement Transfer Reform In Maryland Advocated By Attorney General

Urging that courts be required to find the transfer of settlements to be in the best interests of the injured person, Maryland's Attorney General this week has asked lawmakers for that ability in order to protect victims of lead poisoning and automobile accidents.

A study by the attorney general’s office investigated one hundred and seventy one structured settlement cases where a company or entity bought settlements from injury victims. It found that the twenty one million dollars in present value settlements issued to those victims were bought out for a mere six million dollars.

The issue of structured settlements was brought to the forefront by a series of articles in the Washington Post, highlighting the Freddie Gray death and how he had sold off his structured settlement payments. The recent action by the state legislature and now the Attorney General just continue the momentum for judicial reforms that insure people are fully aware of costs and consequences when they agree to sell their payments.  

Posted on February 29, 2016 .