Common Questions About Selling Your Payments

Our team is highly knowledgeable about selling structured settlement payments. Here are answers to some of the most commonly asked questions we receive.

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Common Questions About Selling Future Settlement Payments

For more than 25 years, J.G. Wentworth has helped thousands of people sell their future structured settlement payments for a lump sum of cash. Over the years, our account executives have been asked many questions about the process. Here are answers to some of the most commonly asked questions our team receives.

Step one About Your Account Executive

When you request to speak with a representative of our company, J.G. Wentworth assigns you to an account executive who guides you through the process of selling your structured settlement payments. The account executive understands how the transaction works and can answer your questions whenever you have them.

Will I Have the Same Account Executive for the Whole Process?

Whenever possible, we will try to keep you in contact with the same account executive throughout the process. However, we work in a team environment. Any member of our team can answer your questions if your account executive is not available when you call.

Can I Leave Feedback About My Account Executive?

Yes. If you’ve had a memorable experience with the representative that has helped you, we’d love to hear about it! You can leave feedback by contacting us or submitting a review. If you have any recommendations about how we can improve customer service, please also let us know.

What If I Don’t Have the Paperwork My Account Executive Needs?

If you can’t find something that J.G. Wentworth needs so we can prepare an accurate quote, your account executive will help you request a new copy. For documents relating to your structured settlement, we’ll schedule a conference call with your insurance company. You can explain what you need and the insurance company can either give us the information over the phone or send a copy to you in the mail.

Step two The Quote

After speaking with you, your account executive will look at your structured settlement and prepare at least one offer to purchase your payments for a lump sum of cash.

Why Don’t I Get the Full Value of My Payments?

A dollar in the future does not have the same value as a dollar today. In other words, you will not be able to buy the same things with that dollar in the future. This concept, known as the time value of money, means that the value of your future structured settlement payments today will not be the same as their total face value. We explain this concept in greater detail on the page that describes how we prepared your quote.

Step three Your Contract

The contract is the agreement between you and J.G. Wentworth to document your agreement to sell your future payments for a lump sum.

What If I Don’t Know How to Answer a Question in the Contract?

If you come across something in the contract that you don’t understand, call your account executive. Your representative cannot fill out the contract for you but can walk you through the contract and tell you how to find the information you need.

Do I Need to Meet with a Lawyer or Financial Advisor?

Depending where you live, state law might require you to visit a lawyer or financial advisor before selling your future structured settlement payments. Other states do not have this requirement, but you can still speak with a professional for advice if you wish to do so.

If you are required to speak with a lawyer or financial advisor, or you make the decision to speak with one, we cannot complete your transaction until after that person informs us that they have spoken with you.

Will J.G. Wentworth Cover the Cost of a Financial Advisor?

No. If you go to a lawyer or financial advisor, you must pay the fees.

Some of the Documents Require a Notary. Do I Need to Find One?

Yes. If you are unable to find one on your own, we can help and cover the costs.

STEP FOUR Sending The Contract Back

After you sign the contract, send it back and we’ll get to work setting up your court date.

Why is My Court Date So Far Away?

As soon as we have all the paperwork we need, we’ll file a petition for a date for you to meet with a judge. Once we send the request, the schedule is up to the court. Cases are handled based on when the court receives the request. If the judge is busy, you may have to wait longer than you’d like to be seen. Unlike what other companies claim, there is no way to speed the scheduling of a court date.

Can I Change What Payments I Am Selling?

Yes, we can change the terms of the transaction, but we highly recommend that you think carefully about your decision before signing and returning it to us. Changing the terms of the transaction after you’ve signed the contract requires us to ask for a new court date, which could add to the overall time you have to wait to get your lump sum. If you’d like to make changes after you’ve sent the contract to us, we’ll cancel your pending court date, send you an updated contract with the new information, and schedule a new court date after you return the new contract to us.

Can I Change How I Get My Lump Sum After I Send the Contract Back?

Yes! Unlike the rest of the contract, which is something we have to submit to the court, you can change how you want to be paid at any time. Just call your account executive and say if you want to receive your lump sum electronically or if you prefer to have a check mailed to you.

STEP FIVE Appearing In Court

The judge will review your contract and the terms of the transactions and will ask you some questions about what you plan to do with the money.

Why Does the Judge Need to Know How I Plan to Use My Lump Sum?

You received your structured settlement because of the settlement of a lawsuit, such as a personal injury, wrongful death, or medical malpractice lawsuit. In accordance with applicable law, the judge wants to be sure the transaction is in your best interest. This is why we recommend that you prepare for any questions a judge may ask.

Do I Need a Lawyer In Court?

No, you do not need a lawyer when you appear before the judge but you can have one there for you if you want. Your hearing is for the judge to decide whether to approve the transaction; it is not a trial.

Do I Need to Wear a Suit?

We recommend that you dress professionally on the day you appear in court, similar to what you might wear to a job interview. If you don’t have a suit, you don’t have to buy one – a dress shirt and a nice pair of pants or a skirt will do. We suggest that you try to look your best so you make a positive first impression.

STEP SIX Getting Your Money

Once the judge approves the transaction, the last step is for J.G. Wentworth to send you your lump sum.

How Long Will It Take to Get My Lump Sum?

Once we get court approval, we’ll get to work on sending you your money. To get your cash as quickly as possible, choose to receive your lump sum electronically through direct deposit. In most cases, you’ll have the funds in your bank account in one or two business days. If you choose to receive a paper check, you should receive it within three business days.

What Happens If I Change My Mind About Selling My Payments?

Selling your future payments is an important decision. We urge you to carefully consider your options before agreeing to accept an offer. However, we understand that sometimes life changes in unpredictable ways. After the lump sum is issued, you have up to five days to cancel the transaction. If you want to return the lump sum and get your settlement payments back, contact your account executive as soon as possible so they can start the process.

Selling Additional Payments

Looking to sell additional payments for another lump sum? We’ll be happy to offer you a quote to buy some of all of your remaining future structured settlement payments.

How Many Times Can I Sell Future Payments?

If you have structured settlement payments remaining, you can sell them for a lump sum. There is no limit.

What If I Have Passback Payments?

Some insurance companies will not split future payments and will only send out a single check. When this happens, J.G. Wentworth receives your whole structured settlement payment and sends you a check for your portion of it. This is a passback payment.

Do I Get a Better Deal If I Sell Payments to the Same Company?

No, every transaction is treated the same. Your account executive will make you a competitive offer based on your remaining payments. However, if you previously sold payments to J.G. Wentworth, we can use the information we already have on file to streamline the process, which could get you your new lump sum more quickly.

Still Have Questions?

If you have any other questions, please contact your account executive. If you don’t have an account executive, please contact us. We’re happy to answer your questions even if you’re not sure if you want to sell your structured settlement payments. There’s never any obligation or cost to speak with a member of our team.

*J.G. Wentworth does not provide financial, legal, or tax advice. Please contact an appropriate advisor for such services.