Many clients simply find it more convenient to get all of their money at one time, rather than waiting several years.
BRYN MAWR, Pa. (PRWEB) September 24, 2008
Commenting on the increase, Randy Parker director of quality assurance for J.G. Wentworth, noted that among the higher volume of transactions are a larger number of cases where the seller is trying to overcome some form of financial distress which was not contemplated at the time they settled their lawsuit – including the possible loss of their home through foreclosure.
According to Mr. Parker, "Our client Janine D. living in Sarasota offers a typical example of some of the financial distress we are now seeing. Sudden and persistent illness undermined Janine's ability to maintain her income. She had few other assets other than her settlement payments, but these were inadequate for the circumstances she found herself in."
Janine D. said, "I have been unable to work due to an illness for the past 21 months and the bills were piling up. I had nowhere to turn to and could not find a job due to the constant in-and-out hospital visits."
Through J.G. Wentworth, Janine D. was able to sell a portion of her regular monthly payments for 4 years in exchange for $16,000 in cash.
"J.G. Wentworth was fantastic about getting me money from my annuity to bring me out of the financial hole and keep our home from being taken away," she said. "You helped keep the roof over my child's head. I am forever grateful. Thank you."
Parker noted that not all clients are facing some form of financial distress. "Many clients simply find it more convenient to get all of their money at one time, rather than waiting several years."
About the J.G. Wentworth family of companies
J.G. Wentworth, Inc., based in Bryn Mawr, PA, is the nation's oldest, largest and most respected buyer of deferred payments for illiquid financial assets like structured settlements, annuities and, through dedicated subsidiaries, life insurance policies. Since 1992, J.G. Wentworth has purchased over $3 billion of future payment obligations from consumers and is also the nation's largest securitizer of structured settlement and annuity backed notes. The company's notes are rated AAA by Standard & Poor's Corporation.
For more information about J.G. Wentworth, go to http://www.jgwentworth.com.