John Oliver Criticizes Factoring Companies for Exploiting Structured Settlement Recipients
On his HBO show Last Week Tonight, John Oliver criticized factoring companies for exploiting individuals with structured settlements. These settlements are typically awarded to people who have suffered physical injuries or are related to someone who has died due to wrongful actions. The settlements are structured to provide tax-free income over time. However, factoring companies offer to buy the rights to these future payments in exchange for a lump sum, often taking a significant portion of the settlement. Oliver highlighted the aggressive sales tactics used by these companies, which include targeting vulnerable individuals, such as those with cognitive disabilities, and employing researchers to find potential clients through court records. He noted that the industry is much larger than perceived, with companies purchasing an estimated $1 billion in payments annually. Despite legal safeguards requiring judicial approval for transactions, Oliver pointed out that the system is easily manipulated, often leav... 
