|
02-17-2010, 09:50 PM
|
#1
|
Full time employment: Posting here.
Join Date: Jun 2005
Posts: 761
|
Investing in lawsuits?
I've never heard of this before but I must admit it is clever: http://www.nytimes.com/2009/06/03/bu...3litigate.html
__________________
You take the blue pill - the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill - you stay in Wonderland and I show you how deep the rabbit-hole goes.
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
02-17-2010, 09:54 PM
|
#2
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
|
A few years ago my MIL was the beneficiary of an estate along with her siblings. The estate was party to a civil lawsuit that was highly likely to result in a judgement against the defendant, but the siblings decided that they did not paticularly wish to be involved in the time consuming and messy details. They sold the claim to a local lawyer who frequently bought claims like this and then pursued them himself. Seemed like a pretty good way to capitalize on his skills.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
|
|
|
02-18-2010, 02:36 AM
|
#3
|
Thinks s/he gets paid by the post
Join Date: Dec 2005
Posts: 1,228
|
Seems like it would suffer from the same problem as the collateralized mortgage debt. It's near impossible for an outside investor to do valuations due to the unknown rate of default.
|
|
|
02-18-2010, 07:20 AM
|
#4
|
Thinks s/he gets paid by the post
Join Date: Mar 2005
Posts: 2,603
|
Yeah, winning the suit is the easy part ... collecting is where you "earn" your keep.
__________________
FIRE'd since 2005
|
|
|
02-18-2010, 10:40 AM
|
#5
|
Recycles dryer sheets
Join Date: Oct 2009
Posts: 58
|
dont get me started!
|
|
|
02-18-2010, 10:45 AM
|
#6
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,037
|
It must have been a slow day at Belmont for this guy.
For those outside the NYC zip codes, see http://www.belmont.com/horse-betting/horse-racing-bets
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
|
|
|
02-19-2010, 02:31 PM
|
#7
|
Full time employment: Posting here.
Join Date: Jun 2005
Posts: 761
|
I also read somewhere that there are companies that will pay you for your life insurance policy. The payouts are based on age in relation to life expectancy. I am continually amazed at what can be considered an investment.
__________________
You take the blue pill - the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill - you stay in Wonderland and I show you how deep the rabbit-hole goes.
|
|
|
02-19-2010, 07:14 PM
|
#8
|
Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
|
Quote:
Originally Posted by Arif
I also read somewhere that there are companies that will pay you for your life insurance policy. The payouts are based on age in relation to life expectancy. I am continually amazed at what can be considered an investment.
|
Viaticals. Sounds like a tough way to make a payroll.
There are companies that will "buy" your military pension, too, which I believe is still not legal. Instead they offer you a lump sum in exchange for an allotment.
__________________
*
Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
|
|
|
02-19-2010, 08:01 PM
|
#9
|
Full time employment: Posting here.
Join Date: Oct 2003
Posts: 961
|
Re: Lawsuit Settlements.
Like Scott Rothstein?
|
|
|
02-21-2010, 11:31 PM
|
#10
|
Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 1,305
|
This reminds me of the old cowboy movies, where the local funeral parlor owner would be one of the uh 'interested parties' in every gunfight. Kinda ghoulish, IMO.
Lawyers, and my apologies to the lawyers on this forum, when they start getting creative like this, are not doing their profession any good in the PR department.
My personal opinion is that there is a special place in hell for all people who profit off of others misery. ... and I am not just aiming this at lawyers.
__________________
Life is GREAT!
|
|
|
02-21-2010, 11:42 PM
|
#11
|
Thinks s/he gets paid by the post
Join Date: Sep 2009
Location: Hong Kong
Posts: 1,688
|
Is there anywhere outside the US where the sale and purchase of interests in lawsuits is allowed? It strikes me as ridiculous that a person with no interest in the subject of a law suit could buy an interest in it.
In Hong Kong (as well as in the UK), other than for insurance purposes, it would actually be illegal. Some people recently were sent to jail for "champerty and maintinance" - effectively promoting a law suit in which they had no relevant interest: Recovery agent and solicitor jailed for offences related to maintenance and champerty
__________________
Budgeting is a skill practised by people who are bad at politics.
|
|
|
02-22-2010, 01:01 AM
|
#12
|
Recycles dryer sheets
Join Date: Mar 2008
Posts: 410
|
There are debt buying firms that purchase consumer debts from the banks/credit card companies. Included is the purchase of judgments. Often at a much discounted rate, because they have been deemed uncollectable. The buyers only have to collect on a small percentage of the judgments to earn a profit. Judgments accumulate interest at a statutory rate, but in reality are generally worth less the older they are, because the chance of collecting is reduced with age.
I think a more practical way to invest in debt, would be to buy stock in one of the publically held debt buying companies.
__________________
ACC USN-(Ret)
|
|
|
02-22-2010, 05:29 AM
|
#13
|
Thinks s/he gets paid by the post
Join Date: May 2009
Posts: 1,116
|
We in Spain have what is called the Gypsy Curse:"May you have lawsuits and win them!"
__________________
I get by with a little help from my friends....ta ta ta ta ta...
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|