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 Structured Settlements - WARNING - BOGUS?!
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50 Posts

Posted - 07/27/2011 :  04:59:51 AM  Show Profile  Visit ALNOTARY's Homepage  Reply with Quote
I have done a couple of signings for Mr. Morales this year in Montgomery and Prattville Alabama and they have gone smooth and I was paid timely. Statous Network is great to work with!
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549 Posts

Posted - 11/25/2008 :  04:42:11 AM  Show Profile  Visit Renee's Homepage  Reply with Quote
Bizarre - looks like Latin (the website) but certainly doesn't look legit at all.

Two things, Kelly - please consider getting yourself an EIN number, so you NEVER give your SS number to anyone, ever. Takes all of 5 seconds to do.

Second - I do use PayPal for ALL companies doing structured settlements, and I have a separate bank account just for that PayPal account. The minute money goes in, I transfer it out to yet another account, so there is never money sitting in it. That way, I can safely accept PayPal payments and have been since '05.

Initially, I used PayPal both ways (to take payments, and to buy stuff) and the account I had set-up at PayPal to PAY with was a credit card. My credit card was hacked THROUGH PayPal that way - and while both PayPal & U.S. Bank jumped on it immediately and the results were only that I had to close that card/open another - I no longer have any credit cards 'linked' with PayPal. Just the dedicated bank account. If I want to use PayPal to purchase something, I first transfer IN the amount needed, to that bank account, and then pay out through PayPal. Again - never a dime sitting in that account.

Edited by - Renee on 11/25/2008 04:43:31 AM
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151 Posts

Posted - 11/24/2008 :  5:12:25 PM  Show Profile  Visit gjk-fl's Homepage  Reply with Quote
Thanks Kelly, that sounds like a scam, especially asking for your bank account! Thanks for the warning.

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22 Posts

Posted - 11/24/2008 :  4:27:56 PM  Show Profile  Visit kellyjmt's Homepage  Reply with Quote
I have done a few notarizations for structured settlements and they went fine but I had an experience today I had to share and see if anyone else has also experienced. I got a phone call from a "Richard Morales" from "STATOUS NETWORK" asking me to notarize 10 - 15 pages for a client in a nearby city for later today. We agreed upon a price then he mentioned the number he had for the client was not working and to wait and he would email me her contact information. He also asked for me to fax over a W-9 (Including my social Security number, of course.) When I checked my email there was no message from him so I called him back at a Seattle area number and he said he would send it right over. Each time I spoke to him the connection was terrible and between a heavy accent and the connection it was nearly impossible to understand him. I received the email and attempted to call the client but the number was not accepting calls. A few minutes later I received an email from the client that was strangely urgent. Excessive use of caps, urgent language and again giving a non-working phone number. I tried the number again then wrote back but never got a response. In the meantime I did a little research on STATOUS NETWORK and was concerned by what I found. There is a website that has repetitive words in an unknown (non-existant?) language and a bogus 800 number that was some sort of crisis line rather than a business line. I called STATOUS NETWORK back and gently told Mr. Morales I had some concerns regarding his company and was looking for some assurance that they were a legitimate company. He offered to direct deposit my pay into my bank account (!) when I declined he then grew angry and told me he would find another notary and hung up on me. Wow! I feel like this was a close call. If this is a legitimate company (highly doubtful) they have some very unprofessional business practices. If not, they are scam artists attempting to prey on notaries. I just wanted to pass along a warning so you can watch out for calls like this. Every other time I have done a structured settlement it was been the company itself that has contacted me rather than them using a third party. Any thoughts on this are appreciated!

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