The J.G. Wentworth Company is an American financial services company that purchases structured settlements, annuities, and lottery payments in exchange for a lump-sum cash settlement. They also offer debt counseling and negotiation services. The company is known for its television advertisements featuring "Mr. Wentworth", and a series featuring performances of a lengthy jingle performed in several styles, including Wagnerian opera singers. J.G. Wentworth was founded in 1991 as a merchant bank specializing in transactions in the healthcare industry. In 1992, the company began to purchase New Jersey auto insurance deferrals from claimants who could not afford to wait twelve to eighteen months for their settlements. According to Consumer Reports, as of 2010 J.G. Wentworth customers paid an "effective discount rate" amounting to "9 percent to 15 percent or more"; i.e., customers give up 9-15% of their future payments in exchange for a present-day cash amount. Though this might be considered a high fee, Consumer Reports says it could be preferable to surrender fees for annuities or other alternatives. More information...
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