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Who could forget the infamous and iconic jingle — “Call JG Wentworth 877-CASH-NOW?” If you watched TV back in 2008, then you know exactly what we’re talking about!
What you may not know, though, is that the commercial offer and jingle are now a source of controversy. Not only is the commercial in hot water, but so are the company’s services themselves.
If you’ve used JG Wentworth in the past or you’re considering it now, then you’ll want to read what we have to write. Read on to get informed and learn more about JG Wentworth and what their customers are saying.
Is JG Wentworth Legitimate?
So, what exactly is JG Wentworth, and is it legitimate? JG Wentworth is a financial services company. Since 1991, they’ve been giving customers lump-sum payments in exchange for:
- Structured settlements
- Annuity payments
- Casino or lottery winnings
- A fee
In other words, they’ll buy any long-term payments you’re owed and provide you with fast cash. They make a profit because they charge you a fee and they give you less than you would over time.
This process is legitimate, and JG Wentworth is a reliable company. That doesn’t mean that its services are “fair,” though. Learn what former customers are saying about that below.
What Former Customers Are Saying
Like any business, JG Wentworth needs to earn a profit. So, how do they do this? First, the company charges customers a fee to turn long-term payments into fast cash. This fee is often a whopping 9-15%.
On top of that, the lump sum they offer you is worth less than the money you’d receive if you waited. It’s up to each customer to decide whether it’s worth losing money to get it now rather than later.
That’s not the only way the company is a bit deceptive, either. While they say you’ll get cash now, the process is time-consuming. On average, it takes about three weeks. Former customers say the company:
- Abandoned customers twice during bankruptcy
- Doesn’t provide a reasonable lump sum (lowballs)
- Participates in deceptive marketing with several brands
These concerns are all valid, so take heed of them before using these services.
How to Find Legitimate Financial Services
If you’re looking for a legitimate alternative, then you need to do your research. Weigh out the pros and cons of the services before agreeing to them. Also, be sure to read previous reviews.
By doing so, you’re sure to find a good company to work with.
Were You Scammed by JG Wentworth?
Do you feel as if you got scammed by JG Wentworth? If so, then you’re not alone! Their somewhat deceptive advertising has led many astray.
If you haven’t yet bought into their services, then now you know better. Use your newfound knowledge to make an informed choice. There are plenty of legitimate financial services available for you!
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