Setting the Record
Sharing the truth to clear up some of the myths and misinformation about J.G. Wentworth, the process to sell structured settlement payments, and the laws that regulate the transaction.
Dispelling Myths About J.G. Wentworth
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. We’re not the only company that buys structured settlement and annuity payments, but we’re the largest in the country.
We’re successful because we’re very good at what we do. We put a lot of effort into helping you understand how things like net present value affect how much future payments are worth. We also streamline the transaction process to make it easier for you to use your money as you wish.
Because we’re good at what we do, some of our competitors will attempt to make their offer look better by spreading misinformation about J.G. Wentworth, the process of selling your structured settlement payments, and the laws that regulate the transaction to sell structured settlement payments. Let us set the record straight. Know the facts as you make your choice and put the myths to rest.
Myth: J.G. Wentworth filed bankruptcy and will not be able to honor the offer they made to me
Truth: On January 17, 2018, The J.G. Wentworth Company successfully completed a corporate financial restructuring process and, as a result, emerged stronger and more financially secure.
J.G. Wentworth is not going out of business. In fact, we continue to lead the market in structured settlement and annuity payment purchasing.
Throughout the restructuring process, there were NO disruptions to our day to day operations and this continues to be the case. Most importantly, ALL transactions with J.G. Wentworth were, and continue to be, secure. We have plenty of cash to fund your transaction.
Unlike many of our competitors, we are a direct funder, so you’ll get your money sooner. We can and will continue to fully deliver checks from any prior transfers in a timely manner. In short, it’s business as usual at J.G. Wentworth.
For more details on the completion of our corporate financial restructuring, click here
Myth: You Must Sell All Of Your Payments At One Time
Truth: You can get a lump sum by selling only some of your payment or part of each payment. This flexibility gives you immediate cash to spend while you continue to receive future structured settlement payments.
One of the first things our account executives ask about is how much money you need from your payments. They also might ask a few questions about your finances, so that they get a better idea of how you now use your payments. Then, they’ll look at your structured settlement and give you a quote for how much you’d have to sell to get the lump sum you need.
J.G. Wentworth provides you with several options including selling all payments within a set range of years, selling a part of each payment of your entire settlement, or some combination of both. In some cases, you may decide to sell all your structured settlement payments to get the largest lump sum, but this is your choice, not a requirement.
Myth: You Can’t Sell to the Same Company Twice
Truth: There is no law that says how many times you can work with a company on the sale of your structured settlement payments. Each transaction is a separate process. The courts are concerned about the same things with each sale: Why you need the money and if the contract follows the law.
In fact, if you already sold some of your payments to J.G. Wentworth, there are several reasons working with us again can help you. Since you already sold some of your payments to us, we’ll have most of your paperwork. This can make the process even easier, which means we can petition for a court date to get you your new lump sum sooner.
If you worked with another company, you can still work with us. J.G. Wentworth’s experience in the industry means that our process is already smoother than what you might experience with other companies. Plus, we’re able to offer quotes that are very competitive, making it worth the effort to work with us.
Myth: You Must Sign Over Your Whole Payment to J.G. Wentworth, Even If You Sell Only Part
Truth: The process of selling your structured settlement payments leads to a legally binding contract that must be approved in a court of law. J.G. Wentworth, or any company that buys your payments, is bound to the terms of that contract. The contract explains exactly how much of each payment you’re selling – that’s the only money the buyer can take.
The facts behind this myth are related to the company that’s issuing the structured settlement payments to you.
Some insurance companies will not split future payments and will only send out a single check. If this happens, we’ll notify you prior to funding. From there, we’ll deduct the amount of the payment you agreed to sell to us, and send the rest to you. This will not significantly delay the amount of time it takes you to get your cash and we’ll only ever take the amount we agreed on in the contract.
Myth: J.G. Wentworth Might Not Have the Cash for Your Lump Sum
Truth: J.G. Wentworth is a direct funder. This means that if we make you an offer for your structured settlement payments, we already have the money we need for your lump sum if you accept.
We take our business, and the needs of our customers, very seriously. When you make the decision to sell your settlement payments, it’s because you have a specific goal in mind. You don’t want to wait to get your cash, and we don’t think you should. Since we already have the money for your lump sum on hand, once we get court approval, we can start the process of sending it to you immediately.
Myth: Other Companies Will Schedule a Court Date Faster Than J.G. Wentworth
Truth: Filing for your day in court is a legal process. Once J.G. Wentworth has all your paperwork together, we’ll ask a judge to hear our case. Then, it’s up to the courts. Your court date is set based on the case load and number of judges available. Whether it’s J.G. Wentworth or another company, filing the paperwork won’t change how quickly your case is heard.
What will make a difference is our experience in preparing the paperwork. Drawing on more than 25 years of experience, we’ve gotten really good at paperwork. We understand the laws and know how to make sure our contracts follow them correctly. We also present all required documents in a way that’s easy for the court to understand. Our goal is to get you your money as quickly as possible.
We’re Here To Answer Your Questions
Selling your structured settlement payments is an important decision. You need to be sure that you’re getting the best deal possible for your payments and that you’re working with a trustworthy company.
If you learn of any myths about J.G. Wentworth that we haven’t addressed here, or you have any questions about how the sale process works, just ask. If you’re in the process of selling your payments, contact your account executive. If you’re still not sure if you want to sell your payments or if you’re deciding whether to work with J.G. Wentworth, contact us. There is no charge to speak with us and you’re under no obligation to sell your settlement payments to us at any time. We’re happy to answer your questions so you have peace of mind.*J.G. Wentworth does not provide financial, legal, or tax advice. Please contact an appropriate advisor for such services.