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Resource ID: #15913
Subject: Consumer Affairs
Source: U.S. News & World Report
Affiliation: 
Date: Jan. 25, 1999

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Description

U.S. News & World Report investigates a fast-growing new industry called factoring. "Factoring companies convert future payments like lottery winnings into cash." The author finds that "many beneficiaries of these 'structured settlements' were selling their future payments, then spending the lump sums they received in exchange for new cars, clothes and furniture...."

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