How J.G. Wentworth Debt Settlement Works Start by discussing individual debts with a J.G. Wentworth representative, who can determine if they can assist with some or all of your bills. Debt consolidation companies like J.G. Wentworth help with unsecured debt not backed by collateral, like a house or vehicle.
Full Answer
What is the JG Wentworth debt relief program?
The JG Wentworth Debt Relief's program assists individuals with unsecured debts, primarily credit card debt, medical debt, personal loan debt and private student loan debt. To qualify for the company's program, you must: A certified debt specialist will review your debt to determine if you qualify for the JG Wentworth debt relief program.
How long does it take to pay off JG Wentworth debt?
Although the program length varies, JG Wentworth Debt Relief states that the average individual can pay off their debt within 24 to 48 months of starting the debt relief program. We recommend asking a certified debt specialist how long the program took for people in similar situations to yours. Where is JG Wentworth Debt Relief available?
What is a JG Wentworth settlement?
JG Wentworth is a lump-sum payment provider for annuities and settlements from lawsuits, lottery winnings and other sources. It makes cash available typically within three weeks, and fees range up to 15%. Top JG Wentworth Structured Settlements Reviews
What can JG Wentworth do for You?
JG Wentworth purchases both full or partial future payments of structured settlements, annuities, and lottery winnings. This can sometimes be a helpful solution to individuals who need a lump sum of cash for things like a medical emergency, debt pay off, or an investment. Here’s what to expect when working with JG Wentworth.
How much money does JG Wentworth take from settlement?
J.G. Wentworth may be willing to help you out, but it will retain a portion of your payout in return. The total amount it pockets is called the "effective discount rate," which includes all its fees, and can total 9 percent to 15 percent or more.
Is JG Wentworth debt settlement legit?
Yes, this is a legitimate financial services company founded in 1991. JG Wentworth offers structured settlement payment purchasing, debt relief services, and annuity purchasing. The company has an accredited BBB profile with an A+ rating.
Can you negotiate with JG Wentworth?
JG Wentworth also provides a Debt Relief Program, which allows us to negotiate with creditors on our client's behalf to help pay off or reduce their unsecured debts.
What percentage of debt will collectors settle for?
Typically, a creditor will agree to accept 40% to 50% of the debt you owe, although it could be as much as 80%, depending on whether you're dealing with a debt collector or the original creditor. In either case, your first lump-sum offer should be well below the 40% to 50% range to provide some room for negotiation.
Is it a good idea to settle debt?
In general, paying off the total amount of debt you owe is a better option for your credit. An account that appears as "paid in full" on your credit report shows potential lenders that you have fulfilled your obligations as agreed, and that you paid the creditor the full amount due.
What fee does JG Wentworth charge?
The monthly payments start at $1,891 and increase by 3 percent a year, until October 2055 or her death. Wentworth calculated the present value of $478,591 in future payments as $180,350. For $10,000, that works out to 2.1 cents per dollar on the full amount and 5.5 cents on the discounted value.
What is considered a structured settlement?
Allowed by the US Congress since 1982, a structured settlement is: A completely voluntary agreement between the injured victim and the defendant. Under a structured settlement, an injured victim doesn't receive compensation for his or her injuries in one lump sum.
How do I sell my structured settlement?
You can sell your structured settlement to a factoring company for immediate cash. Although you must first obtain court approval, you have the legal right to cash out your payments, either in part or in full, to a structured settlement buyer.
How do structured settlements work?
With a structured settlement, you receive your personal injury settlement or lawsuit award over time instead of in a lump sum. Personal injury plaintiffs who win or settle their cases can often choose to take their winnings as a one-time lump sum or as a series of payments over a period of time.
What is the 11 word phrase to stop debt collectors?
If you need to take a break, you can use this 11 word phrase to stop debt collectors: “Please cease and desist all calls and contact with me, immediately.” Here is what you should do if you are being contacted by a debt collector.
Will debt collectors settle for 30%?
Lenders typically agree to a debt settlement of between 30% and 80%. Several factors may influence this amount, such as the debt holder's financial situation and available cash on hand.
What should you not say to debt collectors?
9 Things You Should (And Shouldn't) Say to a Debt CollectorDo — Ask to see the collector's credentials. ... Don't — Volunteer information. ... Do — Make a preemptive offer. ... Don't — Make your bank account accessible. ... Maybe — Ask for a payment-for-deletion deal. ... Do — Explain your predicament. ... Don't — Provide ammunition.More items...
Is there a real JG Wentworth?
JG Wentworth, located in Chesterbrook, Pennsylvania, was founded in 1991. Over the years, JG Wentworth has built a nationally-recognized brand, based in large part on our 877 Cash Now television commercials which have become a part of American pop culture.
Who is JG Wentworth owned by?
JLL PartnersOpera won two International Summit Awards, one Davey Award which honors outstanding local, regional, and cable TV commercials. Today, J.G. Wentworth is owned by private equity firm JLL Partners in New York City.
How does debt consolidation work?
A debt consolidation loan is one way to refinance your debt. You'll apply for a loan for the amount you owe on your existing debts, and once approved, you'll use the funds to pay off your debt balances. Then you'll pay down the new loan over time.
How do structured settlements work?
With a structured settlement, you receive your personal injury settlement or lawsuit award over time instead of in a lump sum. Personal injury plaintiffs who win or settle their cases can often choose to take their winnings as a one-time lump sum or as a series of payments over a period of time.
Why Choose JG Wentworth?
As the leading purchaser of structured settlement and annuity payments, we believe that customer service is the most important aspect of our business. That is why we designed our buying process to be straightforward, to help you get the cash you need sooner
Step 1: Speak to One of Our Representatives
You can reach a JG Wentworth representative in one of three ways. You can choose to give us a call on the phone, fill out our convenient online contact form, or utilize our live chat feature. During this stage, a representative will gather some basic information about your structured settlement or annuity and your goals.
Step 2: Receive a Quote
Once the representative has obtained the necessary information, they will create a quote. Our quotes are obligation-free and will typically include multiple selling options for you to choose from. For example, you can choose to sell all of your future payments, payments from within a certain timeframe, or just a percentage of each.
Step 3: Review Your Contract
Once you have received and reviewed your quote, our representative will send you a contract that must be signed in order to request a court a date to finalize the purchase.
Step 4: Appear Before a Judge
In order for us to buy your future payments, the transaction must be approved by a judge. Our representative will work with you to help you secure a court date.
Step 6: Receive Your Cash
Once a judge has approved the transaction, we’ll complete our underwriting process, and you’ll get your lump sum.
Contact Us
You can reach out to us by phone or online through a contact form. One of our representatives will reach out to you and ask you some questions to learn more about your debt. There is no obligation to work with us after this initial phone call.
We Create Your Debt Relief Program
If your debt qualifies, we will work with you to create a customized program. During this time, you will make a monthly deposit into a dedicated program account, gradually building the amount instead of making minimum payments on your debt.
We Negotiate on Your Behalf
As you grow your dedicated program account, we will work to negotiate with your creditors to reduce your overall debt. Each time we are successful, we will reach out to you for authorization of the settlement terms.
You Pay Off Your Debt
After you pay the full or reduced amount owed on each account, you will be free of your enrolled debts!
Understanding Debt Relief Options
If debt has you stressed out, you should know that there are multiple options available to help you deal with it.
How can we help?
Contact JG Wentworth today to find out how we can help you get freedom from our burdensome debt.
Debt Relief in Four Steps
How does debt relief work? How long does the process take? What do I need to get started? Many of our customers have questions about how the debt relief process works, and when they can expect to resolve their debt. We outline our debt relief process for you so you know what to expect from start to finish.
Step 1: Contact Us
You can reach out to us by phone or online through a contact form. One of our representatives will reach out to you and ask you some questions to learn more about your debt. There is no obligation to work with us after this initial phone call.
Step 2: We Create Your Debt Relief Program
If your debt qualifies, we will work with you to create a customized program. During this time, you will make a monthly deposit into a dedicated program account, gradually building the amount instead of making minimum payments on your debt.
Step 3: We Negotiate on Your Behalf
As you grow your dedicated program account, we will work to negotiate with your creditors to reduce your overall debt. Each time we are successful, we will reach out to you for authorization.
Step 4: You Pay off Your Debt
After you pay the full or reduced amount owed on each account, you will be debt-free!
How long does it take for JG wentworth to settle debt?
JG Wentworth Debt Relief’s services can help reduce or eliminate your unsecured debt in as little as 24 to 48 months. The company negotiates with creditors on your behalf and may be able to settle your debt for significantly less than what you owe.
What does JG Wentworth Debt Relief do?
The JG Wentworth Debt Relief's program assists individuals with unsecured debts, primarily credit card debt, medical debt, personal loan debt and private student loan debt. To qualify for the company's program, you must:
How much does JG Wentworth Debt Relief cost?
JG Wentworth Debt Relief does not have any upfront fees. Fee percentages, typically between 18% to 25% of your enrolled debt amount, are only paid once the company settles each debt. The actual percentage depends on your specific situation and state regulations.
How much debt does JG wentworth help?
JG Wentworth helps individuals with more than $10,000 in unsecured debt, which includes credit card debt, medical debt, personal loan debt and private student loan debt. Is JG Wentworth Debt Relief really worth it? JG Wentworth Debt Relief’s program is completely online, so the service might be ideal if you have at least $10,000 in high interest ...
How long does it take to pay off debt with JG Wentworth?
Although the program length varies, JG Wentworth Debt Relief states that the average individual can pay off their debt within 24 to 48 months of starting the debt relief program.
Does JG debt relief have upfront fees?
JG Wentworth Debt Relief does not have any upfront fees. Fee percentages, typically between 18% to 25% of your enrolled debt amount, are only paid once the company settles each debt. The actual percentage depends on your specific situation and state regulations.
Does debt settlement affect credit?
Enrolling in any debt settlement program will likely have a negative impact on your credit rating because you choose to stop paying your creditors. As your debts start to settle and you maintain good credit behavior, your credit rating will likely begin to improve.
How long does it take to get money from JG Wentworth?
Its representatives help draw up the terms of your contract before having it approved by a judge. You typically receive your funds within two to three weeks after the contract is finalized.
How long does it take to get a lump sum payment from JG Wentworth?
Its representatives help draw up the terms of your contract before having it approved by a judge. You typically receive your funds within two to three weeks after the contract is finalized.
What is JG Wentworth?
JG Wentworth is a lump-sum payment provider for annuities and settlements from lawsuits, lottery winnings and other sources . It makes cash available typically within three weeks, and fees range up to 15%.
How easy is it to work with JG Wentworth?
It was a really easy process working with JG Wentworth. They were straightforward about what the process was going to look like and what we needed to do. They let us know everything that we needed to make the process a little easier. They were by our side the entire step of the way. They also followed up with me after the settlement and then a couple of weeks later to see if we needed anything else from them, not to hesitate to give them a call. If we ever need anything in the future, they would love to work with us. They were really great. If I ever need another lump sum, I would not even question it. They're the first ones that I would go to.
Is JGW a good company?
JGW is an amazing company. Very fast and hard working. My agent was Jai **. Jai is a very down to earth person and very relatable. He's professional but he brings his personality with him to his work place. Like me you will get along with him very well. He's just amazing no other way to put it. JGW in general has an amazing team. They get back to you quickly and help you through everything during the process. Good luck with your journey when using JGW's services. I highly doubt you'll regret going through them.
Does JG go about lump sum payments?
JG Wentworth offers lump-sum payments to people who receive installment payments through a structured settlement or annuity. Structured settlements or annuities may have payouts lasting 30 years or more — JG Wentworth offers cash buyout alternatives that give customers immediate funds.
JG Wentworth Pre-Settlement Funding Facts
Advance Range: We are unable to locate an advance range for JG Wentworth.
JG Wentworth Reviews
I’ve been working with JG Wentworth since 1997. Every single experience has been flawless, easy, and pleasant. Even the few times I was denied payments, the JG team worked diligently and gave me reassurance that everything was done to the best of their abilities. This last transaction started off smoothly. I will not go into details.
Funding States
Click below to see state laws and which other companies provide funding in your state. Don’t see your state? Click here to see which companies provide lawsuit funding in your state.
FAQs
JG Wentworth’s subsidiary Peachtree Financial indicates that they approve cases in as little as 48 hours.
The Process
J.G. Wentworth has been in the business of purchasing annuities since 1991. They are a prominent company in the annuity industry and many consumers hear their name first when they start considering selling annuities.
Fees
As you know, the result of this process is that sellers like you receive a lump sum in exchange for annuity or structured settlement. But how do the annuity buyers like JG Wentworth determine how much to pay for your annuity payments? They most likely will calculate the Future Value of Money to them.
Much More than Annuities
J.G. Wentworth services extend beyond structured settlements and annuities. The company also provides customers with a wide array of financial services. These include pre-settlement funding, mortgage notes, lottery winnings, and advances on inheritance.
