New JerseyCompanies buying future settlement payments would disclose yearly interest rates
People selling future injury or workers’ compensation settlement payments would receive cost disclosures, including a yearly interest rate, at least 10 days before signing.
What it does
People selling future injury or workers’ compensation settlement payments covered by New Jersey law would receive added consumer protections.
Argument forShowing deal costs as a yearly interest rate could help people compare offers before selling their future settlement payments.
Argument againstThe $50,000 bond requirement could make it harder for smaller companies to qualify to buy future payments directly from sellers.
More detail
New Jersey would add protections for people selling future settlement payments. The protections concern future injury or workers’ compensation settlement payments covered by New Jersey law. Most provisions would take effect January 1, 2027. Sections 9 through 16 would take effect January 1, 2028.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Oct 19Introduced, Referred to Assembly Financial Institutions and Insurance CommitteeIntroduced
Consumer Protection