JG Wentworth is a financial services company that offers a range of services, including structured settlement payment purchasing, annuity payment purchasing, lottery and casino payment purchasing, and debt relief services. The company was founded in 1992 and has since become one of the leading providers of financial services in the United States. In this article, we will provide a comprehensive review of JG Wentworth, including its pros and cons, services, and detailed FAQs.
JG Wentworth Pros and Cons
Pros:
- It offers a wide range of financial services to its customers, including structured settlement payment purchasing, annuity payment purchasing, lottery and casino payment purchasing, and debt relief services.
- The company has been in business for over 30 years and has established itself as a reliable and reputable financial services provider.
- It offers flexible payment options and can provide customers with lump-sum payments or periodic payments depending on their needs.
- The company has a strong online presence and offers a user-friendly website that makes it easy for customers to access its services.
- It has a team of experienced and knowledgeable professionals who can help customers navigate the complexities of the financial services industry.
Cons:
- It charges fees for its services, which can be relatively high compared to other financial services providers.
- The company’s services are not available in all states, which may limit its availability to some customers.
- Their debt relief services may not be suitable for all customers, and the company’s fees for these services can be high.
- The company’s services may not be suitable for customers who need immediate access to cash, as the process of purchasing structured settlements, annuities, or lottery payments can take several weeks.
Services
JG Wentworth company offers a range of financial services, including:
- Structured Settlement Payment Purchasing: JGW can purchase structured settlement payments from customers who are receiving regular payments from a legal settlement or court judgment. Customers can choose to receive a lump-sum payment or periodic payments over time.
- Annuity Payment Purchasing: It can purchase annuity payments from customers who are receiving regular payments from an annuity. Customers can choose to receive a lump-sum payment or periodic payments over time.
- Lottery and Casino Payment Purchasing: It can purchase lottery and casino payments from customers who are receiving regular payments from a lottery or casino payout. Customers can choose to receive a lump-sum payment or periodic payments over time.
- Debt Relief Services: It offers debt relief services to customers who are struggling with debt. The company can help customers negotiate with creditors and create a debt repayment plan.
What is JG Wentworth?
JG Wentworth company is a financial services company that offers a range of services to customers across the United States. The company was founded in 1991 and has since grown to become one of the largest purchasers of structured settlement and annuity payments in the country. In addition to structured settlement payment purchasing and annuity payment purchasing, it also offers lottery and casino payment purchasing and debt relief services.
The company is known for its flexible payment options and experienced team of professionals who work to help customers achieve their financial goals. With over 30 years of experience in the financial services industry, It has established itself as a reliable and reputable provider of financial solutions.
How long has JG Wentworth been in business?
JG Wentworth has been in business since 1991, which means the company has over 30 years of experience in the financial services industry. Since its founding, this lender has become one of the largest purchasers of structured settlement and annuity payments in the United States. The company has also expanded its offerings to include lottery and casino payment purchasing and debt relief services. Over the years, the company has established itself as a reliable and reputable provider of financial solutions to individuals across the country.
How does JG Wentworth’s debt relief service work?
JG Wentworth’s debt relief service works by helping customers who are struggling with debt to create a personalized debt relief plan with a financial advisor. The company’s experienced team of professionals works with customers to assess their financial situation and create a plan that is tailored to their specific needs. The plan may include debt consolidation, debt settlement, or debt management.
Debt consolidation involves combining multiple debts into one loan with a lower interest rate, making it easier to pay off the debt over time. Debt settlement involves negotiating with creditors to settle debts for less than the full amount owed. Debt management involves working with a credit counseling agency to create a payment plan that is manageable for the customer.
JG Wentworth’s debt relief service also includes credit counseling and education to help customers learn how to manage their finances more effectively. The company’s goal is to help customers achieve financial stability and improve their overall financial well-being.
It’s important to note that JG Wentworth’s debt relief services are not available in all states, and the fees associated with these services can vary depending on the specific services provided. The company is committed to providing transparent and upfront information about all fees before customers agree to any services.
What are the fees associated with JG Wentworth’s services?
The fees associated with JG Wentworth’s services can vary depending on the specific service provided. For example, if you sell your structured settlement or annuity payments to JG Wentworth, the company will offer you a lump sum payment in exchange for your future payments. The amount of the lump sum payment will depend on a variety of factors, including the size of your payments, the length of your payment stream, and the prevailing interest rates at the time of the transaction.
Their debt relief services also have fees associated with them. These fees can vary depending on the specific services provided and the customer’s individual financial situation. The company is committed to providing transparent and upfront information about all fees before customers agree to any services.
It’s important to note that JG Wentworth is required by law to disclose all fees associated with its services to customers. The company’s experienced team of professionals is available to answer any questions customers may have about fees or any other aspect of the company’s services.
Is JG Wentworth available in all states?
JG Wentworth is available in most states in the United States, but its services may not be available in all states. The company operates in compliance with all federal and state laws and regulations, and the availability of its services may depend on the specific laws and regulations of each state.
Customers who are interested in Wentworth customers should check the company’s website or contact its customer service team to find out if its services are available in their state. The company’s experienced team of professionals can also provide information about any restrictions or limitations that may apply to its services in certain states.
It’s important for customers to note that even if JG Wentworth’s services are available in their state, the specific terms and conditions of its services may vary depending on the state’s laws and regulations. The company is committed to providing transparent and accurate information about its services to all customers, regardless of their location.
Can customers choose between a lump-sum payment or periodic payments?
Customers who sell their structured settlement or annuity payments to JG Wentworth can typically choose between a lump-sum payment or periodic payments. The lump-sum payment is a one-time payment that provides the customer with immediate access to the funds that would otherwise be paid out over a period of time. Periodic payments, on the other hand, allow the customer to continue receiving regular payments over time, even if they have sold a portion of their payment stream to JG Wentworth.
The choice between a lump-sum payment and periodic payments will depend on the customer’s financial needs and goals. A lump-sum payment can be beneficial if the customer needs immediate access to funds for a large purchase or to pay off debt. Periodic payments may be more appropriate if the customer needs a steady stream of income to cover ongoing expenses or to plan for the future.
JG Wentworth’s team of professionals can help customers evaluate their options and choose the payment structure that best meets their needs. The company is committed to providing transparent and accurate information about all payment options and associated fees before customers agree to any transactions.
What is the process of selling structured settlements, annuities, or lottery payments to JG Wentworth?
The process of selling structured settlements, annuities, or lottery payments to JG Wentworth typically involves several steps. Here is an overview of the process:
- Contact JG Wentworth: The first step is to contact JG Wentworth to discuss your financial situation and the payments you would like to sell. You can contact the company online, by phone, or through its mobile app.
- Receive a free quote: Once JG Wentworth has reviewed your information, the company will provide you with a free quote for the lump-sum payment it can offer in exchange for your future payments.
- Review the offer: You should carefully review the offer and consider whether it meets your financial needs and goals. JG Wentworth’s team of professionals can help you evaluate the offer and answer any questions you may have.
- Sign a contract: If you decide to proceed with the transaction, you will need to sign a contract with JG Wentworth. The contract will outline the terms and conditions of the transaction, including the amount of the lump-sum payment and any fees associated with the transaction.
- Court approval: In some cases, the sale of structured settlements or annuities may require court approval. JG Wentworth can help you navigate the court approval process and ensure that all necessary steps are taken to complete the transaction.
- Receive payment: Once the transaction is complete, JG Wentworth will provide you with the lump-sum payment you agreed to in the contract. You can use the funds however you choose.
It’s important to note that the process of selling structured settlements, annuities, or lottery payments can vary depending on the specific details of each transaction. JG Wentworth’s team of professionals is available to provide personalized guidance and support throughout the process.
What are the qualifications for selling structured settlements, annuities, or lottery payments to JG Wentworth?
The qualifications for selling structured settlements, annuities, or lottery payments to JG Wentworth may vary depending on the specific details of each payment stream. However, here are some general requirements that may apply:
- You must be at least 18 years old: To sell your structured settlement, annuity, or lottery payments, you must be at least 18 years old or of the legal age of majority in your state.
- You must be the rightful owner of the payments: You can only sell structured settlements, annuities, or lottery payments that you own. If you inherited the payments, for example, you may need to provide additional documentation to demonstrate your ownership.
- Your payments must be non-transferable: Some structured settlements or annuities may have terms that prevent the transfer of payments to another party. If your payments are non-transferable, you may not be able to sell them.
- You must have a valid reason for selling: JG Wentworth requires customers to have a valid reason for selling their structured settlement, annuity, or lottery payments. This may include the need for immediate funds for a large purchase or to pay off debt, for example.
- The transaction must comply with applicable laws and regulations: JG Wentworth operates in compliance with all federal and state laws and regulations governing the sale of structured settlements, annuities, and lottery payments. The specific requirements for each transaction may vary depending on the laws and regulations of your state.
It’s important to note that these are general requirements and the specific qualifications for selling structured settlements, annuities, or lottery payments to JG Wentworth may vary depending on the details of your payment stream. JG Wentworth’s team of professionals can provide personalized guidance and support to help you determine whether you qualify for its services.
What are the qualifications for JG Wentworth’s debt relief program?
JG Wentworth’s debt relief program may have specific qualifications and requirements for participants. Here are some general factors that may be considered:
- Level of debt: JG Wentworth’s debt relief program is designed to help individuals who have a significant amount of unsecured debt, such as credit card debt or medical bills. The specific amount of debt required to participate may vary.
- Ability to pay: JG Wentworth’s debt relief program is intended for individuals who are struggling to make their monthly payments and may not be able to pay off their debts on their own. You will need to demonstrate that you have a financial hardship and are unable to make your minimum payments.
- Types of debt: JG Wentworth’s debt relief program may only apply to certain types of unsecured debt, such as credit card debt or medical bills. It may not apply to secured debts, such as mortgages or car loans.
- Credit score: Your credit score may be considered when determining eligibility for JG Wentworth’s debt relief program. However, having a low credit score may not necessarily disqualify you from the program.
- State of residence: JG Wentworth’s debt relief program may only be available in certain states. You will need to check with the company to see if the program is available in your state.
It’s important to note that these are general factors that may be considered when determining eligibility for JG Wentworth’s debt relief program. The specific qualifications and requirements may vary depending on the details of your financial situation and the laws and regulations of your state. JG Wentworth’s team of professionals can provide personalized guidance and support to help you determine whether you qualify for its debt relief program.
How can customers contact JG Wentworth?
Yes, customers can contact JG Wentworth through several different channels. Here are some ways to get in touch:
- Phone: Customers can call JG Wentworth at 866-688-9669 to speak with a representative.
- Email: Customers can send an email to [emailprotected] to request information or support.
- Online form: Customers can fill out a contact form on JG Wentworth’s website to request a call back from a representative.
- Live chat: Customers can use the live chat feature on JG Wentworth’s website to speak with a representative in real time.
JG Wentworth offers multiple channels of communication to make it easier for customers to get the information and support they need. Customers can choose the option that works best for them based on their preferences and the urgency of their request.
JG Wentworth BBB Reviews
JG Wentworth has a strong reputation in the financial services industry. The company has been accredited by the Better Business Bureau (BBB) since 1996 and has maintained an A+ rating, which is the highest possible rating, with the organization. This demonstrates the company’s commitment to ethical business practices and customer satisfaction.
According to the BBB website, JG Wentworth has an average rating of 3.5 stars out of 5 based on 141 customer reviews. While this rating is not outstanding, it indicates that the company has generally positive feedback from its customers. It’s important to note that customer experiences may vary and that individual results may depend on specific circ*mstances.
The BBB also reports that JG Wentworth has had 87 complaints closed in the last three years. This number may seem high, but it’s important to consider the size of the company and the number of customers it serves. JG Wentworth has a large customer base and may handle a high volume of transactions, which can increase the likelihood of complaints.
Overall, JG Wentworth’s A+ rating with the BBB and its long-standing accreditation demonstrates the company’s commitment to customer service and ethical business practices. While individual customer experiences may vary, the company has generally positive feedback from its customers and a track record of resolving complaints.
Here are some reviews:
They are not truthful and I spent 8 months watching my credit score go from 685 to 520. It’s not worth it if you have great credit or decent credit don’t fall for this program it is a scam
Rashana S
01/26/2023
They Took advantage of me during covid and told me I was getting a good deal…. after I told them I was going homeless and I needed to sell my annuity to get a place they took 40% of my last annuity I was 22 and scared I was going homeless at the time and now I have no money left from my annuities after they hounded me multiple times before that… out of 300k I saw maybe 130k of it…. now I’m honestly depressed and wishing I never dealt with them. DO NOT SETTLE FOR ANYTHING UNDER 15% when selling your annuity to them. That is the base offer they’re supposed to give to you. Instead, I was gouged because they knew I was vulnerable. -Anthony Senn
Anthony S.
01/18/2023
This company will lie and miss lead you when they say they can help you consolidate your debt for less than you owe and quicker. They neglected to tell us they would charge us 25% of the balance of our credit cards before negotiating them down. So we actually paid more than we would have. We were told our credit would take a small hit but they would have our credit cards taken care of in 3-6 months one year later our credit had dropped over 200 points. they still had not worked out an arrangement with one of the 3 cards. We explained to them when they called we were making minimum payments since our 3-year is was going through cancer treatments out of state. Then she passed because the doctors messed up we were getting a wrongful death settlement in the year. They still swore we would pay less if we signed up with them. We had to take care of one card our self cancel the other 2, and we were able to negotiate a lower payment with the credit card companies since we were paying it in full instead of JG Wentworth making small payments to them so they could take there 25% of the original balance first. We paired them almost 5000 dollars and all they paid was 1200 to one card just over 100 to another and nothing to the 3rd card. After closing the account and having them removed I explained we should not owe them 25% when they did not do their jobs, lied, and miss lead us. They knew we wanted to sell our house and move by the end of the year because it had been way too hard being in the house I watched my baby girl die in but they didn’t care. They’re refunding about 700 that they had in trust for their payments. For all the hard work they did screwing us over they profited almost 4000 for basically nothing but destroying our credit and any chance of us moving. I really encourage anyone looking to consolidate not to work with them. We have spoken to a lawyer and will be taking them to court. Their excuse is we signed the contract, but they failed to do their job.
Casondra P
01/14/2023
FAQs about JG Wentworth
Q: What is a structured settlement?
A: A structured settlement is a financial arrangement in which a person who has been awarded a legal settlement or court judgment receives regular payments over a set period of time.
Q: How do I know if selling my structured settlement payments or annuity payments is the right decision for me?
A: The decision to sell your structured settlement or annuity payments is a personal one that should be carefully considered. It is important to weigh the benefits and risks of selling your payments before making a decision. JG Wentworth can provide you with information and guidance to help you make an informed decision.
Q: How long does it take to receive a lump-sum payment from JG Wentworth?
A: The process of selling your structured settlement or annuity payments to JG Wentworth typically takes several weeks. Once the transaction is complete, you will receive your lump-sum payment.
Q: Are there any restrictions on how I can use my lump-sum payment from JG Wentworth?
A: No, once you receive your lump-sum payment from JG Wentworth, you can use it however you wish.
Q: What are the fees associated with JG Wentworth’s debt relief services?
A: The fees for JG Wentworth’s debt relief services vary depending on the specific services provided. The company will provide you with a clear and transparent breakdown of all fees before you agree to any services.
Q: Is JG Wentworth a reputable company?
A: Yes, JG Wentworth has been in business for over 30 years and has established itself as a reliable and reputable financial services provider.
Conclusion
Overall, JG Wentworth offers a range of financial services that can help customers meet their financial needs. While the company’s fees can be relatively high, its experienced team and flexible payment options make it a viable option for customers who are looking to sell their structured settlements, annuities, or lottery payments.
Additionally, JG Wentworth’s debt relief services can help customers who are struggling with debt to getting back on their feet. As with any financial decision, it is important to carefully consider the pros and cons of using JG Wentworth’s services and to seek guidance from a financial professional if needed.
