Future Income Payments [FIP]
reviews and complaints

July 24, 2018

www.bbb.org/sdoc/business-reviews/financial-services/future-income-payments-llc-in-irvine-ca-1009241/reviews-and-complaints

To Whom It May Concern:

It has been brought to my attention that Future Income Payments, LLC (FIP), a "factoring company that specializes in secondary market pension income streams", is defaulting on payments generated by my Structured Cash Flow (SCF) account. In spite of the "unique model of risk mitigation including short and long term reserve accounts used to protect against contractual risk", it appears the "buyers" (suchas myself) of structured cash flow accounts are in a most catastrophic position. The company which allegedly has an A+ BBB Rating, excellent track record, and "perfect payment history" is now incognito with regard to any responsibility toward their investors who remain at enormous potential losses.

FIP, LLC's excuse has been the federal government changed the definition of "loans" to reflect a possible ongoing investigation as to FIP's business practices and whether they comply with the laws the CFPB enforces. Consequently, a "cease and desist order" was issued and cash flows frozen. This question of semantics is ludicrous; more importantly, the financial impact of such should absolutely not fall upon the buyers. We as buyers were guaranteed safety nets to insure payment and the fact that FIP did not do their due diligence regarding the government's change in esoteric jargon should not bely their clients. If we as clients (aka "buyers") wanted to sign up for such risk, we could have chosen to directly loan funds ourselves. We invested in FIP to handle our SCF accounts to avoid such risk!

I refuse to allow FIP to use the government as a scapegoat just because that is what the rest of the country does whenever situations "go South"; that is, "blame it on Uncle Sam"! IF, in fact, the government is responsible for the redefinition of a loan, therefore seizing FIP resources, then FIP is obligated to fight on our behalf, NOT suggest we as individual clients attempt to recoup our dollars. Perhaps the Attorney General needs to be involved in order to attack the "big umbrella" under which we all exist. We as individual clients have little to no clout/power to fight this government mandate. It is not my responsibility to do so, nor is it affordable for me to retain an attorney in a futile attempt to change a government conglomerate. FIP, as a large entity with savvy business attorneys, has a far better chance of addressing/resolving this entire situation in the best interest of its own reputation and on behalf of its clients.

Time is money in this instance and the time is now to stop the bleeding! If FIP is the holding company ultimately responsible for the payments on SCF accounts, then it is their duty and obligation to fight the government with their own attorneys while absorbing our losses themselves. Clearly, the "loaned" dollars to our respective sellers need to be repaid and those payments are indeed somewhere. If the government ordered FIP to cease and desist, those funds need to be released back to buyers! I believe the sellers (consisting of various city employee pension funds/retirement systems, Local unions, County funding, etc.) are legitimate entities and diligently make their payments. The payments, whether with interest or not, should definitely go to those of us who facilitated their lump sum payment. Currently, it appears those payments are being held hostage?
Legal ramifications are imminent and personal indictments pending for those FIP individuals responsible for this deplorable disconnect. As stated in FIP, LLC's "Notice to Buyers/Advisors" dated April 10, 2018, Colorado is one of the states "where matters have been resolved". Yet to date, nothing financially sound has been reflected in our Gold Star Trust SCF accounts. Not only explanations and disclosures are necessary, but more importantly, timely monetary results of said resolution are in order!

Regards ~

Sharon A. Hull
Greeley, CO
[protected]@msn.com

I received a credit aid from Future Income Payments LLC aka Pension Annuities and Settlements LLC. We agreed before that monthly payments would be $400 and they wired the credit to my account. But because of the health problems, I have missed one payment. After that all my problems started. I got phone calls from this company, which asked me to pay or they would ask me for the whole sum in advance. I have recently paid them for two months, but they continued to call. It is really irritates me.