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JG Wentworth Review: Is It A Scam Or Legit?

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JG Wentworth is a debt settlement company that offers many services to help people in need. In this JGWentworth review, we will take an objective look at their business practices and see if they are a scam or legitimate based on what customers say about the service via online reviews.

What do people say about JG Wentworth? Well, there are both positive and negative reviews out there. Some consumers claim this company helped them get out of debt while saving money on services; however, others dispute these claims saying that they didn’t receive the relief promised.

We know people are interested in finding the best debt settlement company they can get their hands on, but we also recommend doing some research and asking questions before going through with anything.

It’s always important to do your own research before signing up for any service. This review should help you decide if they are right for YOU!

JG Wentworth Pros and Cons

You may be surprised to learn that JG Wentworth is one of the most complained-about debt settlement services in America. They have lots of negative reviews and complaints about them, so you should consider this before working with them.

  • Interest rates are sky-high, so you could end up paying more in the long run even if they help get your credit card debt under control.
  • There are a lot of negative reviews and complaints. This should make you question whether or not they are the right choice for you.
  • They may not be able to help you as much as you need. If your debt is very high, it might not be worth it to work with them.

When it comes to choosing a credit card debt settlement program, this company might not be the best option. The pros of their service are minuscule in comparison with all that you have going against them when choosing an organization that can help tighten your finances and get rid of creditors once and for all (not just temporarily). Make sure to research every single detail before committing.

What is JG Wentworth

The company JG Wentworth is facing lawsuits for violating the Missouri Structured Settlement Protection Act. If you plan on using their services, make sure that they are aware of your rights and obligations under this law before proceeding.

File a complaint with the Federal Trade Commission and contact your state Attorney General’s office to find out if there are any pending lawsuits against this company in their respective jurisdiction. It is important that you verify whether or not it has been licensed by all states within which they operate as well, so make sure beforehand

Who owns JG Wentworth?

JG Wentworth Company is a holding company that’s owned by an investment firm called Stone Point Capital. This means they have a controlling interest in the brand, but not all of its profits go back into funding their investments, instead, some get reinvested into growing it further.

JG Wentworth is owned by a holding company called J.G Wentworth, which in turn owns an investment firm known as Stone Point Capital.

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However, the story of who owns JG Wentworth is a bit more complicated than that. The long answer has to do with a series of mergers and acquisitions that have taken place over the years. In 2009, for example, JG Wentworth was acquired by Penn Mutual Life Insurance Company. However, Penn Mutual sold JG Wentworth to Stone Point Capital in 2015.

The current owner of JG Wentworth is a company called Stone Point Capital, but they’ve changed hands several times over the years.

How does JG Wentworth work?

JG Wentworth offers a customized solution for customers who are struggling with unsecured debt. They work to negotiate on behalf of their client and lower monthly payments, interest rates, or fees so they can get out from under the weighty financial load that has been dragging them down all these years.

The Debt Relief Specialist will work with customers to create a plan that helps them pay off their unsecured debt in 36-60 months. Customers make one monthly payment, which is then distributed among creditors according to the specialist’s advice and guidance on how best to handle this situation for themselves financially as well.

Many people are wondering if JG Wentworth is a legitimate company that can help them get out of debt. One thing you should know before using their services, there have been some complaints from customers who feel like they were scammed but other than these few cases the service seems to be beneficial.

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How does JG Wentworth affect your credit?

JG Wentworth is a debt relief company that offers many helpful services to people in need. But it’s important you know the risks associated with their business before getting started, like negatively affecting your credit score.

There are many ways JG Wentworth can affect your credit, but one of the most significant is by doing a hard pull on the report. This means they will access all aspects and details about how reliable you’ve been in order to determine whether or not it’s worth going with them as their company, which could lower both scores by a few points depending upon what kind.

Another way JG Wentworth can impact your credit is by being listed as a Debt Relief company on your report. This designation can stay on your report for up to seven years and can make it difficult to get approved for new lines of credit.

So if you’re considering using JG Wentworth’s Debt Relief services, be sure to weigh the potential impacts on your credit score before making a decision.

How much does JG Wentworth cost?

JG Wentworth is a debt relief company that can help you get out of credit cards and other financial obligations. but there’s no easy answer to how much it will cost because they charge hidden fees which could add up quickly.

The JG Wentworth company is one of the most expensive unsecured debt relief companies out there, but they also have some hidden charges that can catch customers off guard. Make sure you read over your contract carefully before signing anything-you might end up paying more than what was originally agreed upon.

How to contact JG Wentworth customer service

If you’re looking for JG Wentworth customer service, the number to call is 855-930-6480. You may need to wait on hold for a customer service representative to become available, but once they are, they will be able to help you with whatever questions or concerns you have.

How to login to JG Wentworth

Logging into your account is easy! Just go to the JG Wentworth website and find “ login” in the top right corner. Once you’re on this page, simply enter your username/password into the appropriate fields then click “Login”. You’ll be able to use all of their debt consolidation services immediately after logging in.

Who Is JG Wentworth Affiliated With?

There are lots of different companies that offer debt consolidation services. Some will give you the money, and some might take your credit card. So how do I know which one is right for me?

JG Wentworth is a well-established company with ties to two prestigious organizations. The National Foundation for Credit Counseling (NFCC) and Association of Settlement Companies(ASC).

These affiliations mean that JG Wentworth has passed a rigorous set of standards and ethical guidelines.

How to cancel JG Wentworth?

If you are considering using JG Wentworth, it’s important to know that their contracts can be difficult if not impossible to cancel.

There are a few steps you’ll need to take in order to cancel your JG Wentworth account. First, you’ll need to find your account number and contact information. You can find this information by logging into your online account or by calling customer service at (855)930-6480. Once you have this information, you’ll need to write a cancellation letter explaining why you’re canceling your account and requesting a refund of any unused funds.

Once you have your account number and cancellation letter, you can send them to JG Wentworth’s mailing address:

J.G. Wentworth & Company, LLC

Attn: Customer Service

201 King of Prussia Road, Radnor, PA 19087

You should also keep a copy of your cancellation letter for your own records.

JG Wentworth BBB reviews show

JG Wentworth Better Business Bureau reviews show that the company has had 68 complaints closed in the last three years. Of those, 24 have been closed in the last twelve months. The majority of these complaints appear to be negative reviews from customers who are unhappy with the service they received. While it’s not unusual for a company to have some negative feedback, JG Wentworth appears to have more than its fair share. If you’re considering using their services, you may want to think twice.

Here are some JG Wentworth BBB Reviews:

11/22/21

I received a pre-approved letter for a loan of $15,000.00. I submitted my name and email and no other personal information. It does on the back state that there is no guarantee, however, I get a call from someone telling me I need to enroll in a debt consolidation program. I let them know upfront do not contact me if this is for a debt consolidation program. The rep said according to my credit score this is what I qualify for. I asked him who gave him permission to pull my credit score and he an agency sent it to them. You cannot pull my credit report without my authorization. I never consented to that. I pay my bill on time every month with no problem. I think that this was very misleading and now my score has dropped because of them. They continuously call and text trying to get me to do a debt settlement program which I am not interested in. If I can pay my bills on time surely, they could have given me a loan to consolidate. I feel they prey on people for their own best interest. If I wanted to enroll in something like that I would file bankruptcy first.

Talita R 11/22/2021

Do not keep their contract, not enough assistance, they rude! Also removed money from my account without following the monthly payment agreement.

11/17/21

So last year in October I decided to go through J.G. Wentworth to receive some of my annuity. I was in a bad wreck in 2007, 4 days after I graduated. My total is 1.9 million and plus some if I lived past my 90th birthday. The first transaction went well. Second, went well. The third, they wanted to see what their best offer would be… and it was 2,000.00… that’s all!! Well, I tried to cancel it in the time allowed, but got no response. Also, some of the papers in the third contract do not have the correct information on it regarding myself, my husband, and my kids. I’m in the process of dealing with an identity theft issue that has been going on since 2019. How is their best offer only 2,000.00 out of 1.9 million!!

Jessica 08/31/2021

Really the only thing we saved was interest. The amount each creditor wrote off was about the amount that JG charged for their fee. So really the only good thing to come out of the whole thing was to be able to lump all your payments into one payment. Also, the loan in the end was still at a very high-interest rate. So overall if given a choice I would not have chosen to go in this direction. Maybe if you are really desperate.

Donna P. 08/19/2021

I started payments to JG Wentworth for the negotiations of my credit cards At the beginning of July. They did not tell me they would be taking my money towards this system but not do any negotiations with my creditors until 4 to 6 months after! My creditors are calling nonstop and my credit score has taken an 80+ point drop. This company’s tactics are to just sign you up and then take their time handling your accounts. I could have negotiated them all myself by now. Instead, they are sitting on my cash and letting me go down the drain.

Complaint Type: Billing/Collection Issues 08/24/2021

On 08/24/21 I contacted *** because I was unable to get in touch with anyone at JG Wentworth reference settlement payments being made, despite numerous attempts over the last 2 months to talk with someone at JGW. I found out that after the settlement agreement with **** was made, there were to be 3 payments from my JG Wentworth account to fulfill this settlement agreement that would be completed by 08/22/21. NO SUCH PAYMENTS occurred. Due to JGW failing to make these payments, my settlement agreement has defaulted and has been charged off – leaving a derogatory note on my credit report. I do not understand how this could have happened when I have the funds available in my account and I was assured by the JGW associate on the phone with me during the call to **************, that this would be paid off in the 3 payments agreed upon. I WANT ANSWERS. This needs to be corrected NOW. I suggest you reach out to me at your earliest convenience.

Is JG Wentworth legit or a Scam?

You may have seen some negative reviews online and are wondering if they’re legitimate.

They may not be a scam, but there is still plenty of room for caution. Before working with them it’s important that you do your research and understand what they want from the process so as to avoid any unpleasant surprises down the line.

Here’s a more detailed look at what some people have said about JG Wentworth:

Some people have complained that the company charges high fees and doesn’t always deliver on its promises. These negative reviews mention how some settled funds were of low quality as well, leading them to tears in frustration or confusion regarding their finances going forward with this organization.

JG Wentworth is not your traditional lender. They are a company that purchases structured settlements from people who need cash now in exchange for immediate payment, just like any other form of credit would work.

JG Wentworth is a company that has been around for years and they have an A+ rating from the Better Business Bureau.

So, have you ever worked with JG Wentworth? We’d love to hear about your experience in the comments! Thanks for reading.

Jayden Taylor loves spending time with her three children and husband of 14 years. She enjoys reading, writing, and personal finance education. After overcoming significant debt through consolidation, Jayden is passionate about helping others do the same. When she's not working or spending time with her family, you can find her hiking or camping in the beautiful Colorado Rockies.

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