In July, 2015, I was in serious need of money.
I had just lost my job. My wife left me for another man, leaving me to take care of our two children on my own. My finances were in a crisis, and I was scared that I’d lose my house. My landlord was dangerously close to losing his patience with me. He wouldn’t have waited long to kick me, and my kids, out onto the streets.
I’ve seen J.G. Wentworth’s commercial too many times in my life – as I suppose most people have. It’s pretty hard to forget, what with the screaming Vikings in the opera and all that. I remembered the basic gist of the ad (“one lump sum of cash they will pay to you!”) and that was, basically, what I needed at that point of time.
I looked up J.G. Wentworth on the internet at https://www.jgwentworth.com/. Their website was extremely helpful and told me everything that I needed to know. They explained all of my options in complete detail. I’d decided to cash out my annuity, so I read about that. I was impressed by all their offers and how they’d presented them (which had nothing to do with the company and was only thanks to the web designer, but still).
I didn’t exactly rush into it, because I wanted to be careful. I really needed the money and could not afford any mistakes. I did my research well. I looked at other companies. When I was finally convinced that J.G. Wentworth would give me what I needed, I went ahead and called the number listed on their website (855-688-9669).
After I’d told them what I’d wanted (which was annuity payment), I was put in touch with a man called Sam, who said he would be my representative. Sam was a nice guy. Or at least, he was back then. He wasn’t like any of the usual bad-tempered staff members I usually ended up having to work with – he was polite, friendly, and really patient with all of my confusion.
He offered me a quote to get 30, 000 dollars out of my annuity (which consisted of a total of 70, 000 dollars). I accepted it and did everything he told me to do. All of this happened in July. It took a while, but the judge approved it, and finally, in August, I received 26, 000 dollars.
Four thousand dollars less than what I’d been promised.
I asked Sam what that was all about, and he treated me like I was crazy. He said that the company was obviously supposed to keep a portion of my payout, and that it was called the effective discount rate. And that I’d been told of this before. He said it all exactly like that, with the tone you’d use to talk to a three year old.
I told him that yes, I’d been aware of his stupid ‘effective discount rate’ but that he hadn’t told me that it would amount to four thousand dollars. The amount he’d told me was much, much less.
He brushed it off like it was nothing, still being a condescending moron. In the end, I dropped it. It bothered me, but I tried to forget about it. I didn’t see any way of getting that money back from them.
As my luck would have it, the money didn’t last me long enough. I managed to keep my house, take care of my kids, and start a new business, but this year the business failed and I ended up right where I started.
As much as I hated the idea of it, I turned to J. G. Wentworth again for the remaining part of my annuity (because the contract I signed lasts till 2024). I called up Sam again and explained my problem to him and asked him for his help getting the rest of my money. He said that he was very sorry about my situation but that he couldn’t help me. I didn’t understand why and he didn’t bother to explain. When I tried calling him the next day (I was desperate, and it wasn’t even close to 2024!) he hung up on me.
In the end I turned to a broker and he helped me get my money without any issue, and also without taking fucking 4k. Now my business is just fine and it’s no thanks to J. G Wentworth.
If you’re planning on trusting them, don’t. They’re shitty people who won’t hesitate to screw you over.
Phone: (855) 770-8956.