Wentworth may be willing to help, but he will withhold a portion of your payment in return. The total amount you cash out is called the effective discount rate, which includes all your fees and can total 9 percent to 15 percent or more. The discount range is usually between 9% and 18%, but may be larger in some cases. It can seem like a lot of money, and it is.
But it's the price to pay for receiving part or all of your annuity in one go, rather than waiting several months or years to receive the money little by little. Wentworth Company is a U.S. financial services company that purchases structured settlements, annuities and lottery payments in exchange for a lump-sum cash settlement. They also offer debt counseling and negotiation services.
The company is known for its television commercials with Mr. Wentworth, and a series with interpretations of a long jingle performed in various styles, including Wagnerian opera singers. Prior to 1999, there was no regulation for structured agreements in New York State. Eliot Spitzer, then Attorney General of New York State, entered into a contract with J.G.
Wentworth to regulate the industry and limit fees. Wentworth could receive a rate of no more than twenty-five percent of the annual discount rate for annuities he had purchased from New York State citizens. At the time, a JGW executive told the New York Times that the company was seeking the deal because of the pace at which its business had grown. Wentworth owns and operates under a number of brands.
The three major brands are owned by J, G. Wentworth, Peachtree and Stone Street Capital. The cost of selling your annuity or agreement to JG Wentworth varies depending on the details of the agreement. Wentworth and similar company Peachtree Financial Solutions formed a new holding company, JGWPT Holdings LLC.
JG Wentworth is a lump sum payment provider for annuities and lawsuit settlements, lottery winnings and other sources. JG Wentworth's agent will help you arrange a one-time payment if you're interested in collecting a settlement. JG Wentworth offers lump-sum payments to individuals who receive installment payments through a structured settlement or annuity. JG Wentworth buys full or partial future payments of structured settlements, annuities and lottery winnings.
Wentworth was founded in 1991 as a commercial bank specializing in transactions in the healthcare industry. JG Wentworth Debt Relief's Consumer Affairs profile also has many 5-star ratings, which gives the company an average 4-star rating. If you choose the latter but face significant expenses, JG Wentworth can buy your lottery payouts and provide you with a one-time payment that you can use to meet your current needs. For the duration of this program, you will be encouraged to stop paying your debt and instead deposit the money into a dedicated account, while JG Wentworth negotiates with creditors.
JG Wentworth is a financial services company that focuses on helping consumers who are experiencing financial difficulties or who need access to cash. Keep in mind that it would take JG Wentworth 4-6 months to reach an initial settlement agreement with creditors. Once approved, a copy of the approval is sent to your insurance company and JG Wentworth issues the lump sum payment to you. JG Wentworth offers structured settlement payment purchases, debt relief services and annuity purchases.