Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Desperate, then offered quick cash

They've suffered tragic, disabling injuries, and received large settlements to be paid over their lifetimes. Then little-regulated firms came calling

 

October 4, 2021

The $12,001 payment Stanley Turner, 40, received from a California company in 2019 represented just 6.3% of the value of the $191,608 it was worth at the time.

The money was supposed to last the rest of Stanley Turner's life.

He was 5 when a collision hurled him and his sister from the car, leaving both with permanent brain damage.

Doctors said Stanley would never live normally again.

The insurance company for the driver at fault in the crash settled the Turner family lawsuit by agreeing to a financial package worth more than $4 million to the children. The deal included guaranteed payments that would continue until Stanley turned 60.

https://www.startribune.com/structured-settlements-payout-accident-victims-surrender-millions-lightly-regulated-industry/600101581/

 

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