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"Settling for less," a recent article in U.S. News, discusses the somewhat newfound entity of "factoring companies." These factoring companies provide a lump sum cash amount in return for a beneficiary's future payments. This lump sum amount, as you may have guessed, is considerably less than the full amount that would be received if the beneficiary were to wait for each installment. The big question is are the factoring companies actually providing a service or are they merely "preying upon the vulnerable"?
Several consumers that have taken advantage of the service are not only pleased with it, they are also very grateful that the companies provide it. One woman, who did not wish to be named, almost had her house foreclosed on. If not for the service provided by the factoring companies she would have lost it. Another man, who also wished to not release his name, secured funds through a factoring company to expand his own business, and as a result he is more successful than ever. It is obvious that the factoring companies have provided a valuable service for some, but lets take a look at the dissatisfied customers.
Orion Olson was injured at the age of three by a severe dog bite causing vision and neurological problems. When he turned eighteen he was already homeless but soon received the first $7500 installment of the $75,000 settlement. This money quickly took him off the street but did not last long. He then turned to a large factoring company by the name of J.G. Wentworth. He sold his remaining future payments of $67,500 for the lump sum of $16,100. He is now homeless again and has nothing left to sustain him. Another client by the ...
In 1962 the Supreme Court decided that public schools did not have the power to authorize school prayer. This decision made public school in the U.S. more atheistic than many European nations. For example, crosses still hang on the classroom walls in Poland, and the Ten Commandments are displayed in Hungary. There are prayers held...
Socio-economic conditions in North America have contributed to the need for dual incomes for families. Economically, "the number of two parent families below the poverty line would increase to an estimated 78% if they were to become single income families ." Socially, it was the norm, in the past, for women to stay at home, taking care of the child...
The topic of this paper was chosen out of the conviction that humanity is suffering today from a number of serious social problems related to women and to the interrelations of the two sexes in society. Although these problems may be more pronounced, disturbing, more debilitating for some of us than for others, there are probably f...
After centuries of conforming to female stereotypes created by men, women are slowly taking control of their own image making. Image of being equal to the men and being able to face the reality of life on their own, without men's support. Within the short story 'The Harp', written by Carol Shields, the author gives us a clear example of a woman, w...
Affirmative Action Discrimination has turned the tables in the U.S. Affirmative action in theory and in thought is intended to promote the welfare of this country?s minorities by supporting the idea that individuals are equal and should not be judged by race or sex. Therefore, in situations like job and university applications, we s...
