Monday, April 15, 2013

Dude, You Got Balls

The title of the email from LinkedIn group California Workers' Comp. Professionals was, "We purchase California Workers" Comp liens.....a pool value of $2 million or more."

The subtext was "Contact me if you have liens to sell."

Okay - baited, hooked. Let's see what this is all about.

The message was apparently from a member of a Kansas business, Loyalty Business Funding - a business credit and funding group with numerous business financial products according to its website.

One of the primary drivers of the "lien crisis" in California that led to the monumental reforms under SB 863, and what has come to be known as "lien armageddon" with the dismissal by operation of law of millions of dollars in lien value on 1/1/2014, were lien purchasing businesses.

The modus operandi of these groups is to purchase liens for a few cents on the dollar, regardless of whether those liens have satisfied or paid at fee schedule. Then, once the liens have been purchased and the paper is in their possession, the lien purchaser engages in tactics that are best described as relentless harassment.

So, best I can tell, here is a company that has no vested interest in the workers' compensation system other than squeezing more money out of the system for purely selfish profit.

Further, here is a company that either is undaunted by the lien fee and resolution processes instigated by SB 863, or is ignorant of those processes (in which case lien claimants you should take advantage of this ignorance immediately and access as much of that $2 million as you can).

But worse, here is profligate nose thumbing at the system in a very public, caustic manner.

Imagine the chutzpah of the person posting this so publicly in a LinkedIn group that is mainly populated by people on the employer/insurance side of the work comp equation.

Or, again, maybe it's just plain old ignorance. I wouldn't discount that since his education as posted in his LinkedIn biography is "Off Market University." 


The biography of the poster of this message indicates a history in real estate sales, and apparently is a co-founder of Loyalty Business Funding. They offer a product which he describes as:

"The Business Credit Builder & Funding Suite is the most comprehensive funding solution available! Access to certified business advisers finance officers, and funding for your business through thousands of lending sources. Build your Business Credit to obtain additional money with no personal liability. Guarantee of $50,000 in business credit within 30 Days with our program."

Wow - no personal liability! Where do I sign up and get some of that $2 million?

[Huge sarcasm here.]

You want to know what's wrong with workers' compensation?

Look no further than this example of a blatant distortion of the system from financial manipulation firms - companies with no interest in the operation of workers' compensation, nothing at stake in the system, and apparently zero appreciation for ethics or morality (is that why he spends so much time "relating with God"?).

Dude, you got balls.

No comments:

Post a Comment