Is JG Wentworth a Scam Or not?

Question

Has anyone ever noticed that on almost all the J.G. Wentworth commercials they change their phone number? I was wondering if this had anything to do with them being scam artists? Is their company real? Or bullshit.

Answer 1

They are not scam,they are Legit,  http://www.structuredsettlementguide.org/jg-wentworth-scam/

Answer 2

How can anyone say they are legit just vecause they are big?  What a moron.  While they may be legit in a legal sense, they probably operate right on the edge of the law and defintely on the side of underhanded. and unsrupulous.  They defintely take advantage of people and are a rip off.  People can be such fools to engage in business with such a company.

Answer 3

A fool and his money is soon parted.  Especially when it comes to J.G. Wentworth.

Answer 4

JG wentworth is Legit...BUT IT IS A RIPOFF.....they take 50%..... not counting interest

If you have a loan to someone , etc...for 100,000... and u charge the person 8% interest for 10 years...... you still will only get 50% of the principal that is left. if you want all of your money now.

and lets say you have a insurance settlement of $500,000 but you want your money now... you will get 250,000.      USE ONLY IF YOU HAVE NO OTHER RECOURSE

 

Answer 5

The process abuses the taxpayers.  People who are injured and can not work sell their future benefits.  After fees (30% or more) and taxes the amount is greatly reduced.  Then it is spent in a few months leaving the taxpayers to support this person.  Happens with lottery winners who are not disabled.  They take the big settlement quit their job and then throw it away.  They end up on welfare in a few years.

Answer 6

Thieves taking earned money from unsuspecting hard working individuals.  jg worthless  does not earn its money it steals it.

Answer 7

Re: the different phone numbers used for the commercials are so the company can track which commercials generate the most calls. If you have five different commercials in rotation, on five different channels, then ideally you would have 25 different 800 numbers so you could track which commercial on which channel generated each call. You can then direct your advertising dollars to the most effective place.

Answer 8

@ Guest # "Guest13182509"

What a Moronic Statement    

Have you ever heard of Bernie Madoff?

Just because something is big doesn't mean it can not be a scam. They somehow are have found some loopholes to make money off of others.

Answer 9

Okay, first rule of thumb, if you put your money in an annuity you are going to be losing money with the rate of inflation because you will not be making interest on it. If you have the option i would suggest getting a direct pay out, if you do not I would suggest REMAINING ON THE ANNUITY AND INVESTING A PORTION TO GENERATE INTEREST! Do Not trust these companies, you will end up paying reverse interest and they will be taking a huge lump out of your lump sum. Also they can hold your money, all of your money, until they themselves start making a profit on your annuity. That means if you get paid every month out of your annuity and go to a company like JG Wentworth they can hold you lump sum payment for three months, or possibly three years. It's not a scam because it's all perfectly legal but you can still get really really screwed. So don't do this unless you DO NOT depend on your structured settlement or annuity for income.

Answer 10

They are Legit.
They are in it to make money not to help you
If you use them you can expect between 60 and 80 percent of what is owed to depending on how long you annuity was for (how long JG Wentworth has to wait to start making a profit)

Answer 11

Are you kidding me? I can't believe all the garbage I read online. Do any of you even know what the company does? What a load. Yes, it is a for-profit company. DUH. It's not like they pound down your door and steal your stuff. Good lord, people are such idiots.

Answer 12

I keep reading sooooo many things on wither these kind of settlement funding things are scams or not and honestly it's like listening to a schizo. OMG! ><! Do these things honestly work? I mean yeah they are obviously going to take some money it's like the middle man- duh- but sometimes yes they can scam you- but where are the ones that don't? Everyone except this one (kinda) I see mostly bad stuff...wtf? Are they seriously all the same? And even if they do skimp you out on your money illegally- I'm sure you can just sue them like every good 'ol fashioned american does. :)

Answer 13

JG Wentworth and other companies like it is in a financial space that offers a lump sum at a discount rate. Consider it a loan in reverse.  If you took a loan out for 100,000 over ten years at 10% interest, your monthly payments would be 1,321.51.  Multiply this by 120 (10 years X 12 months.) This equals 1,321.51 X 120 = 158,580.88.  So the sum of ALL of your payments is 158,580.88, but the cash you get is 100,000.  Your rate of discount is 10% PER YEAR.  So if you were getting 1,321.51 a month over 10 years, you would be getting a total of 158,580.88.  100,000 "is only 63%" of 158,580.88 so it seems like you are paying a 37% interest rate.  So when JGW or someone else tells you are only getting 63% of your money today, they are giving you a reverse loan of 10% year.  Let's say it's 12% that would be 91,000 and change.  You cannot look at a total over ten years like one lump sum -- it is apples to oranges.  And no, I do nor work for them.  I just hate to see false statements.

Answer 14

i'm dealing with them right now. i get 46,000 in 3 years and they offered me 26,00 to get it for me now. i'm missing out on 20,000 but with this shithole economy i feel like i don't have a choice. they are legit, but they rape you as much as possible. it's really only for people that don't have any other options.

Answer 15

They have been banned in the past in New York for cheating consumers out of up to 70% of their settlement. They also filed for bankruptcy in 2009. Does that sound "legit" to you?

Answer 16

They have been banned in the past in New York for cheating consumers out of up to 70% of their settlement. They also filed for bankruptcy in 2009. Does that sound "legit" to you?

Answer 17

Anything that sounds too good to be true IS too good to be true. You must all realize that the business of any company is to make money. Some manufacture cereal, clothes, cars and trucks. Some provide services like a hotel, ammusement park or settlement broker. ALL of them are about making money.

Some of them are honest, some of them are not, but don't kid yourself into thinking the larger the company the more honest they are. Some of the largest corporations in the world are dishonest and predatory. Many of the big boys think they're too large to be pushed around by consumer advocacy groups.

Buyer beware. Do your research before making any significant money decision, because they are counting on you being lazy and not reading the fine print.

Answer 18

Okay so the four guest ahead of me were so on another site I was looking at repeating the same exact information. Sounds fishy to me. Come on...got to do better than that. Was looking forward to some help from this company but guest they are worms!!

Answer 19

I did it in 2006.  I was getting $600 a month from an annuity and they offered $16,000 for 8 years and I did it.  Then I needed more and they told me inflation for the future would mean less so they gave me $4000 for another 8 years.  That's 16 years $115,200 for $20,000.  Does that seem like a rip off.  They all are like that and anyone saying different works for them.  It's not worth it.

Answer 20

They are legit but they offer horrible rates. You can get better prices by going to a company like <a href="http://www.structuredsettlement-quotes.com">Structured Settlement Quotes</a>

Answer 21

definatly not a scam. i have a structered settlement of 475,000 to be paid every 5 years till 2049 and i found and only had to give 10% plus my money was tax free. so here i am livin life to the fullest with 420,000$$ in my bank account. JG Wentworth saved my life!!!!!!!!

Answer 22

they are completely legit.  you can't be a big company like that running scams.

Answer 23

They are probably on the level, if you don't mind giving them 30% of whatever they recover.