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.
Typically, JG Wentworth's fees range from 9% to 15% of the asset's total value. Its representatives provide free quotes over the phone to help you evaluate the cost of cashing in your structured settlement, winnings or annuity.
While J.G. Wentworth doesn't display credit requirements outright on its website, usually the rule of thumb is around 700 FICO score to qualify for a conventional loan and 620 as a minimum for some government-backed loans.
*Sales of Structured Settlement and Lottery Payments are subject to Court Approval and other conditions which can take 60-90 days to complete. Annuity payment sales are also subject to certain conditions. All transactions are at J.G. Wentworth's sole discretion.
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.
Opera 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 much does a $100,000 annuity pay per month? Our data revealed that a $100,000 annuity would pay between $416.67 and $1,418.00 per month for life if you use a lifetime income rider. The payments are based on the age you buy the annuity contract and the length of time before taking the money.
How Much Does An $250,000 Annuity Pay? The guaranteed monthly payments you will receive for the rest of your life are roughly $1,094 if you purchase a $250,000 annuity at age 60. You will receive approximately $1,198 each month at age 65 and approximately $1,302 each month at age 70 for the rest of your life.
J.G. Wentworth Home Lending, LLC is one of the nation's largest direct and retail home mortgage lenders.
They are scammers. I got one of those “pre-approved” notices as well and was looking for a loan to payoff all my debit and have 1 payment. Like everyone else, I didn't qualify for a personal loan but was given the option of debt consolidation. Nothing but a scam to rip everyone off.
JG Wentworth is a financial services company that focuses on helping consumers who are experiencing financial hardship or need access to cash. Offerings include structured settlement payment purchasing, annuity payment purchasing, lottery and casino payment purchasing and debt relief services.
You should take a lump sum settlement for all small settlements and most medium-sized settlements (less than $150,000 or so). But if you are settling a larger case, there are two good reasons for doing a structured settlement. First, the structure guarantees that you won't spend the money too fast.
If you only have $100,000, it is not likely you will be able to live off interest by itself. Even with a well-diversified portfolio and minimal living expenses, this amount is not high enough to provide for most people.
The historical S&P average annualized returns have been 9.2%. So investing $1,000,000 in the stock market will get you $96,352 in interest in a year. This is enough to live on for most people.
Many financial advisors suggest age 70 to 75 may be the best time to start an income annuity because it can maximize your payout. A deferred income annuity typically only requires 5 percent to 10 percent of your savings and it begins to pay out later in life.
Don't have sufficient savings to cover premiums.
Buying an annuity could mean laying out $50,000 or more to cover the premium. If purchasing an annuity would drain your liquid savings and put you at risk of having to borrow to pay for unexpected expenses, it may not be worth it.
As a comparison, the cost of a single premium immediate annuity that would pay you $1,000 per month for as long as you live is approximately $185,000.
If you purchase your $1,000,000 annuity between the ages of 60 – 70 and start taking payments immediately then you can expect to receive between $4,000 and $5,500 per month for the rest of your life or for the time period of your annuity payout.
Wentworth is not Mr. Wentworth at all. He was an actor hired by a company called J.G. Wentworth. J.G. Wentworth is a leader in what is politely called the settlement purchaser industry.
The father-daughter duo donned Vikings gear to sing an operatic jingle for J.G. Wentworth at Mall of America. Judges liked their rendition. Erin Kimball and her dad, Mike, get a kick out of singing along with TV commercials. But they never thought they'd see themselves on TV — until last week.
The largest civil litigation settlement in U.S. history occurred in 1998 between the attorneys general of 46 states, Washington, D.C., and five U.S. territories, and the nation's four largest tobacco companies.
Structured Settlement Tax Advantages
Structured settlements and lump-sum payouts for compensatory damages in personal injury cases are tax exempt. So there is no distinct tax advantage to the type of settlement payout you receive.
How Do Structured Settlement Purchasing Companies Make Money? Factoring companies generally take anywhere from 9% to 18% to cover their operating costs and turn a profit.