Personal Loan Debt Relief
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Jeff saved 43% on his debt
$30,607
Total Debt
$365
Mo. Payment
Monthly Payment
48 months
Program Length
Personal Loan Debt Relief with JG Wentworth
Overwhelmed by personal loan payments? JG Wentworth’s Debt Relief Program has helped thousands of customers settle more than $2 billion in debt. Our proven personal loan debt relief solutions can help you break free from burdensome loan payments and become debt-free in as little as 24-48 months—and save up to 45% on your total amount owed (before program fees).
How to know if you are a good candidate?
If you struggle with these common issues, you may be a good candidate for debt settlement with JG Wentworth!
- You have at least $10,000 in unsecured debt
- You are struggling to make personal loan payments
- You want to avoid bankruptcy
- You are committed to becoming debt-free
- You can afford a monthly program payment
What you could gain from Personal Loan Debt Relief with JG Wentworth:
Get a dedicated team of debt specialists in your corner, so you don’t have to spend the time and energy dealing with collectors.
Streamline your debts into a single monthly payment, often at a reduced amount.
JG Wentworth clients save 45% on average on their total debt cost.
Complete your personal loan debt relief program in as little as 24-48 months versus years of continuing payments.
1
One monthly deposit:
You make a single program deposit each month into a dedicated account that you control.
2
Personalized strategy:
A specialist reviews your situation and builds a plan around your goals, budget, and timeline.
3
Negotiation support:
We work to reach settlements with your credit card companies for less than the enrolled balance.
4
Clear progress:
You review and approve each settlement. As creditors agree, enrolled balances go down.
How it Works
Our Debt Relief Program consolidates your multiple loan payments into one affordable monthly payment, then our dedicated negotiators work directly with your lenders to reduce what you owe.
Free debt evaluation
A certified specialist listens to your story and reviews your balances, income, and expenses.
Set your monthly payment
Pick a monthly deposit that works with your budget. This funds settlements over time.
Negotiations with lenders
We contact your lenders to reach lower payoffs. You stay informed and approve each settlement.
Complete the program
As settlements are accepted and paid, enrolled balances are resolved.
JGW in a nutshell. Just the facts.
30 Years
Of experience
375K+
JG Wentworth Customers
$2.2B
Debt Settled
Example Timeline
Our average clients graduate from their program in as little as 24-48 months. Here is a breakdown of what that can look like:
*Your timeline may be shorter or longer based on your deposit amount and creditor participation. Note: missed payments can affect your credit score. Debt relief is not a loan. Your results will depend on your situation and the cooperation of your creditors.
Month 1
Enrollment and account setup
Months 2-6:
Program deposits build your settlement fund
Months 6-18:
Negotiations and approved settlements begin
Months 18-48:
Additional settlements funded
Program Graduation
Remaining enrolled accounts resolved!
Types of personal loans we can help with:
Our Debt Relief Program can help with various types of unsecured personal loans, including:
Note: Secured personal loans with collateral may not be eligible for debt relief settlement.
- Unsecured personal loans
- Peer-to-peer loans
- Medical loans
- Private student loans
- Home improvement loans
- Debt consolidation loans
- Online personal loans
- Emergency personal loans
Start Your Free Debt Consultation
JG Wentworth’s Debt Relief Program compared to other options
Refinancing
While personal loan refinancing replaces your existing loan with a new loan (ideally at a lower interest rate), personal loan debt relief actually reduces the total principal amount you owe. Refinancing typically requires good credit and may not offer enough savings if your credit score has declined since taking out the original loan.
Bankruptcy
Personal loan debt relief is often seen as a less drastic alternative to bankruptcy. Both can eliminate your personal loan debt, but they use very different methods:
- Personal loan debt relief programs typically take as little as 24-48 months versus bankruptcy’s longer timeline
- Both impact your credit score, but bankruptcy can remain on your credit report for up to 10 years
- Personal loan debt relief allows you to avoid the legal process and public record of bankruptcy
- With debt relief, you’re paying back a negotiated portion of your loan debt rather than having it discharged
Loan modification
Loan modification involves changing the terms of your existing personal loan (interest rate, payment schedule, or loan term), while personal loan debt relief negotiates to reduce the principal balance itself. Debt relief often results in greater savings than modification alone.
Partner with a company people trust
Because of our famous 877-CASH-NOW commercials, we’re one of the most well-known names in financial services. People trust us because they know us—and when you work with us, you’re also letting our five-star reputation work for you.
1
Monthly Payment
24-48
Month Program
6
Debts Settled on Average
43%
Average Savings
Debt Relief Calculator
See how long it could take to pay off your credit card debt.
Debt Amount
$
A value between $7,500 and $250,000
Average Interest Rate
%
A value between 15.00% and 36.00%
Estimated current monthly payment
$
A value between $15 and your debt amount
Your Results
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*Disclaimer: The calculator on this web site is for estimation and educational purposes only. JG Wentworth makes no guarantees regarding its accuracy and specifically disclaims any and all liability arising from the use of this or any other calculator on this web site. Use at your own risk and verify all results with an appropriate financial professional before taking action. We are not registered investment advisers, attorneys, CPA’s or other financial service professionals and do not render legal, tax, accounting, investment advice or other professional services.
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Your Results
Please check your numbers. At your current interest rate you will not be able to pay off the debt with that monthly payment amount. Please review your numbers and try again.
View Disclosure
*Disclaimer: The calculator on this web site is for estimation and educational purposes only. JG Wentworth makes no guarantees regarding its accuracy and specifically disclaims any and all liability arising from the use of this or any other calculator on this web site. Use at your own risk and verify all results with an appropriate financial professional before taking action. We are not registered investment advisers, attorneys, CPA’s or other financial service professionals and do not render legal, tax, accounting, investment advice or other professional services.
Pay less overall
On average, JGW customers with similar debt amounts to you save 43% on the total cost of their debt!
Total Cost
$14,000
Current Payoff
$12,000
JGW Debt Relief
Time to Payoff
60 months
Current Payoff
50 months
JGW Debt Relief
Get out of debt faster
Our program runs between 32 and 60 months and is determined by your debt amount. Talk to on of our debt specialists about custom options.
Pay less per month
Compared to paying off your debt alone, debt relief can be a quicker, cheaper, and easier way to reach your goal of becoming debt-free.
Monthly Payment
$14,000
Current Payoff
$12,000
JGW Debt Relief
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Personal Loan Debt Relief FAQs
Our personal loan debt relief fee is calculated as a percentage of each enrolled personal loan debt and varies based on your individual situation and state. This fee is built into your monthly payment from the start—there are no hidden fees. If we can’t successfully settle a specific personal loan account, we won’t charge a fee on that debt.
Personal loan debt relief can initially impact your credit score, as accounts may become delinquent during the negotiation process. However, this impact is typically shorter-term than bankruptcy, and many clients find their credit recovers as they complete the program and eliminate their personal loan debt burden.
During the personal loan debt relief process, interest may continue to accumulate on your accounts. However, our experienced negotiation team always works to settle your personal loan debt with your original balance in mind, and the final settlement reduces your overall debt significantly—often offsetting any accumulated interest.
While we don’t advise anyone to stop paying their personal loan bills, continuing to make payments can impact our leverage when negotiating with lenders. The decision about whether to continue making personal loan payments is ultimately yours. Our debt specialists can discuss the pros and cons based on your specific situation.
Our personal loan debt relief program works best with unsecured personal loans—loans not backed by collateral like a car or house. This includes most traditional personal loans, peer-to-peer loans, and online personal loans. Secured loans (like auto loans or home equity loans) typically cannot be settled through debt relief because the lender can repossess the collateral.
That’s common! Many of our clients have personal loans from several different lenders—banks, credit unions, online lenders, and P2P platforms. Our personal loan debt relief program can work with multiple lenders simultaneously to negotiate settlements on all your enrolled personal loan debts.
If your personal loan debt is forgiven for less than the full amount owed, the canceled debt may be taxable if it exceeds $600. However, many clients can legally exclude settled debt from their income through the IRS “insolvency exclusion” if their liabilities exceed their assets. We recommend consulting with a tax professional about your specific personal loan debt relief situation.
To optimize the success of our personal loan debt relief program, we strongly recommend enrolling all of your qualified personal loan debts. Your debt consultant will explain the enrollment process and discuss potential pros and cons of excluding any loans from the program.
Personal loan debt relief is a structured program with professional negotiation on your behalf. Simply defaulting can result in lawsuits, wage garnishment, and severely damaged credit with no plan for resolution. Our program actively works toward settlements that resolve your personal loan debt while minimizing negative consequences.
Monthly payment and total savings are dependent on many factors, including, but not limited to, program fee, enrolled debt amount, monthly program payment and willingness of creditors to negotiate. The JG Wentworth Debt Relief Program fee is a percentage of each enrolled debt amount and may vary by state or debt load. The debt savings goal does not take into account the 18-25% program fee. The average amount saved on the debt balance does not take into account the program fee. Any decision to cease making payments to your creditors is yours. JG Wentworth does not provide direction on this matter.
Debt resolution program provided by JGW Debt Settlement, LLC (“JGW” of “Us”)). JGW offers this program in the following states: AL, AK, AZ, AR, CA, CO, FL, ID, IN, IA, KY, LA, MD, MA, MI, MS, MO, MT, NE, NM, NY, NC, OK, PA, SD, TN, TX, UT, VA, DC, and WI. If a consumer residing in any other state contacts Us we may connect them with a law firm that provides debt resolution services in their state. JGW is licensed/registered to provide debt resolution services in states where licensing/registration is required.
Debt resolution program results will vary by individual situation. As such, debt resolution services are not appropriate for everyone. Not all debts are eligible for enrollment. Not all individuals who enroll complete our program for various reasons, including their ability to save sufficient funds. Savings resulting from successful negotiations may result in tax consequences, please consult with a tax professional regarding these consequences. The use of the debt settlement services and the failure to make payments to creditors: (1) Will likely adversely affect your creditworthiness (credit rating/credit score) and make it harder to obtain credit; (2) May result in your being subject to collections or being sued by creditors or debt collectors; and (3) May increase the amount of money you owe due to the accrual of fees and interest by creditors or debt collectors. Failure to pay your monthly bills in a timely manner will result in increased balances and will harm your credit rating. Not all creditors will agree to reduce principal balance, and they may pursue collection, including lawsuits. JGW’s fees are calculated based on a percentage of the debt enrolled in the program. Read and understand the program agreement prior to enrollment.
JG Wentworth does not pay or assume any debts or provide legal, financial, tax advice, or credit repair services. You should consult with independent professionals for such advice or services. Please consult with a bankruptcy attorney for information on bankruptcy.
Client Grievance Procedure: If you are unable to resolve an issue with your Debt Specialist or Client Services Representative, please request to speak with a manager. If you cannot reach a resolution with a manager, please escalate communication via email at [email protected] or direct mail to the business address listed on our contact page.
Notice to Vermont Customers: JGW Lending, LLC is licensed in Vermont with a Loan Solicitation License, License No. LSO-2365173. NMLS ID (2365173) THIS IS A LOAN SOLICITATION ONLY. JGW LENDING, LLC IS NOT THE LENDER. INFORMATION RECEIVED WILL BE SHARED WITH ONE OR MORE THIRD PARTIES IN CONNECTION WITH YOUR LOAN INQUIRY. THE LENDER MAY NOT BE SUBJECT TO ALL VERMONT LENDING LAWS. THE LENDER MAY BE SUBJECT TO FEDERAL LENDING LAWS. (Added 2017, No. 22, § 25.)
