Selling Your Structured Settlement Payments with JG Wentworth

There’s a reason we're the first name you think of when you hear the words “structured settlement.” With over 30 years of experience helping customers sell their payment streams, we’ve become the leader in the industry for giving our customers the best price on their payments, guaranteed.

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Illustration of two people on a journey to get cash from their structure settlements

How does selling my structured settlement work?

Selling your structured settlement is a major financial decision only you can make. We’ve answered some of the most common questions about selling to JG Wentworth to help you make an informed choice.

 

When you sell part or all of your structured settlement payment stream, you effectively transfer your payment rights to the purchasing entity in exchange for a lump sum payment. The process is straightforward for JG Wentworth customers, who receive personalized guidance from a dedicated team of representatives.

 

Here are the steps you’ll take:

Call JG Wentworth for a free evaluation and quote.

Because transferring the rights to future payments is a permanent decision, our representatives carefully evaluate your circumstances to help you make an informed choice. We recommend you call us prepared with an idea of how much cash you need. Your representative will then work with you to determine your eligibility for sale and provide you with a quote.

One

Call JG Wentworth for a free evaluation and quote.

Because transferring the rights to future payments is a permanent decision, our representatives carefully evaluate your circumstances to help you make an informed choice. We recommend you call us prepared with an idea of how much cash you need. Your representative will then work with you to determine your eligibility for sale and provide you with a quote.

One

Accept your quote and return your contract.

Once you accept a quote, you’ll be asked to sign and return a contract to us confirming the terms of your agreement. From there, your JG Wentworth team will handle any paperwork necessary to complete the transaction, including scheduling a court date for you to obtain approval from a judge.

two

Accept your quote and return your contract.

Once you accept a quote, you’ll be asked to sign and return a contract to us confirming the terms of your agreement. From there, your JG Wentworth team will handle any paperwork necessary to complete the transaction, including scheduling a court date for you to obtain approval from a judge.

two

Attend your court date.

Court approval is required to transfer your payment rights. Although going before a judge might seem intimidating, this step is designed to protect you from potential scams. And don’t worry—we’ll walk you through the whole process before your court date so you know what to expect. Note: this part of the process can take anywhere from six to ten weeks, but if you need cash sooner, JG Wentworth can be flexible! As our customer, you could be eligible for a cash advance of up to $5,000 before court approval—just ask your representative for details when you call.

three

Attend your court date.

Court approval is required to transfer your payment rights. Although going before a judge might seem intimidating, this step is designed to protect you from potential scams. And don’t worry—we’ll walk you through the whole process before your court date so you know what to expect. Note: this part of the process can take anywhere from six to ten weeks, but if you need cash sooner, JG Wentworth can be flexible! As our customer, you could be eligible for a cash advance of up to $5,000 before court approval—just ask your representative for details when you call.

three

Receive your lump sum!

We can pay you via wire transfer, direct deposit, or check—whatever you prefer. Yep, it’s that easy.

four

Receive your lump sum!

We can pay you via wire transfer, direct deposit, or check—whatever you prefer. Yep, it’s that easy.

four

Why should I choose JG Wentworth?

 

JG Wentworth is the industry leader in purchasing structured settlements, and with good reason! Reputation is everything to us, so it’s our goal to give customers the best experience possible. Our company is responsible for 80% of all structured settlement sales in the U.S. In other words, we help a lot of people—and our customers love us for it.

 

Here are some of the credentials we love to brag about:

 

  • Over 30 years of experience
  • A+ rating from the Better Business Bureau
  • Rated “Excellent” on Trustpilot, with over 2,000 5-star reviews
  • Long-standing relationships with top insurance companies
  • Best price guarantee

    Life is full of surprises—and sometimes, surprises can put an unexpected strain on your finances.

     

    If you’re struggling to pay for an emergency expense, you’re not alone. According to a 2022 Bankrate survey, only 44% of Americans can afford to pay for a $1,000 emergency with savings alone. For most Americans, the best option in an emergency is to take on debt to cover the expense. Even if you don’t have an emergency—maybe you want to go back to school or put down a payment on a house—it can be difficult to come up with the funds for an immediate need without incurring debt.

     

    But if you have a structured settlement, you have another option!

     

    Selling part or all of your structured settlement payment stream is a great way to keep your head above water while avoiding taking on extra debt. If you need cash in a pinch to take care of a major expense, this could be the best solution.

    When you sell your structured settlement, the purchasing company will offer you a price based on the future value of your payments, factoring in the cost of inflation over time. The difference between what your money is worth now and what it will be worth in the future creates a risk for the company purchasing your future payments. To protect itself from that risk, the company will calculate an amount called the discount rate, based on the difference in value between current and future payments,

     

    In other words, a structured settlement payment of $1,000 today will be worth less in a year due to inflation. So if you sell a payment that you’re supposed to receive next year, the purchasing company will buy that payment based on what it expects it to be worth in a year—not what it is worth today.

    No, you do not need to sell your full structured settlement payment stream. You can sell just one or several future payments—it all depends on how much money you think you need. In fact, many JG Wentworth clients are return customers, selling part of their settlement whenever they need cash.

    The short answer:  yes!

     

    The long answer:  a legal guardian can sell part or all of a structured settlement belonging to a minor under their care if they are able to demonstrate to a judge that the lump sum will be used to benefit the child.

    How do I avoid being scammed or ripped off when I sell my structured settlement?

     

    There are shady organizations out there that prey on people with structured settlements and purchase payments for far less money than their clients deserve. Some will even mislead customers into thinking that they will be purchasing the payments directly, when in fact they’re acting as middlemen between you and a potential buyer. In those cases, the sales transaction could take a much longer time, and you could receive a lower price than you were quoted.

     

    It’s important for sellers to do their research on any company that they’re considering selling their structured settlement to, including checking their credentials and reading customer reviews.

     

    If you’re considering selling your settlement payments to any business, make sure to ask your sales representative the following questions:

     

    • How many transfers have you done before?
    • How many transfers has your company funded in my state and county
    • How quickly can I expect to receive my funds after court approval?

    In general, you’ll want to find a company with plenty of experience, because they’ll have had experience handling any issue under the sun. Instead of selling to someone who has ten transactions a month in a small handful of places, look for a company responsible for hundreds of transactions in many different states and counties. Also, make sure you’re working with the purchasing company directly—not a sales broker—so that you’re guaranteed to get the price you’re quoted as quickly as possible.

    Still have questions?

    If you still have questions about selling your structured settlement, JG Wentworth’s team is here to answer them for you. Give us a call today at (866) 930-6480.

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    Sources Cited

    1. Bennett, K. (2022, January 19). Survey: Less than half of Americans have savings to cover a $1,000 surprise expense. Bankrate. Retrieved from https://www.bankrate.com/banking/savings/financial-security-january-2022/
    2. Benefits of the secondary market. National Association of Settlement Purchasers. (2022). Retrieved from https://www.nasp-usa.com/benefits_of_the_secondary_mark.php
    3. JG Wentworth is rated "excellent" with 4.8 / 5 on Trustpilot. Trustpilot. (2022). Retrieved from https://www.trustpilot.com/review/jgwentworth.com