JG Wentworth Debt Relief Reviewed in Depth

JG Wentworth Debt Relief

Individuals with excessive debt can search for debt consolidation loans or try to negotiate debt settlements. JG Wentworth debt relief offers both. Firmly established as one of the leading debt relief companies in America, the “877-CASH-NOW” jingle rings in the ears of countless consumers struggling to get out from under. 

Who is JG Wentworth?

JG Wentworth was founded in 1991 as a merchant bank. In the beginning, they specialized as a processor of healthcare transactions. The business model changed in 1992 when the company started purchasing insurance deferrals from auto insurance claimants. This shift began the “Cash Now” campaign for people who couldn’t afford to wait for payouts from structured settlements.

The 30 year history of JG Wentworth has been a time of explosive growth. During that time, though, the company has filed for bankruptcy twice and been delisted from the New York Stock Exchange for failing to satisfy the continued listing rule. Despite that, the company’s debt relief program remains strong. They focus on debt settlement and cash advances for annuity holders.

Pros of JG Wentworth Debt Relief

  • JG Wentworth can settle multiple outstanding debts while charging their customers one fixed monthly payment.
  • There are no upfront fees to get started with JG Wentworth.
  • JG Wentworth has no minimum credit score requirement. 

Cons of JG Wentworth Debt Relief

  • JG Wentworth is not available in all 50 states. It does not originate loans in Hawaii, Idaho, Missouri, Nevada and New York.
  • Settlement fees are high.  

Services Offered by JG Wentworth

JG Wentworth offers several services. Their most popular offerings are debt relief programs and cash advances on structured settlements and annuities, but they also provide a marketplace where consumers can shop for the best online quotes for insurance plans, personal loans, and home services. JG Wentworth is not a direct lender. They’re a portal to search for loans.

Customer Qualifications or Eligibility to Work with JG Wentworth

JG Wentworth debt relief operates in 29 states and Washington, D.C. For a complete list, visit this page on their website. You must reside in an eligible state and have at least $10,000 in unsecured debt to qualify for JG Wentworth’s debt relief program. Customers must also be able to afford the monthly payment, which includes settlement payments and fees.    

Customer Details

How Much Debt Do JG Wentworth Clients Have?

JG Wentworth can create a debt relief program for you if you have at least $10,000 in unsecured debt. They don’t list a “maximum debt” on their website, so you can assume that any amount over $10,000 is acceptable. The average number of debt accounts that clients enroll is six. The company claims clients can save 51% with their program, not including fees.

What JG Wentworth Won’t Cover

JG Wentworth can settle unsecured debt with credit card companies and lenders. They do not deal with secured debt where defaults result in the seizure of collateral. Mortgages and car loans are secured, so they are not eligible for a JG Wentworth debt relief program. Secured personal loans are also not eligible, but payday loans are.   

How JG Wentworth Debt Relief Works

There are no upfront fees to sign up for JG Wentworth debt relief. The first step is to fill out the online form. That will be followed up by a phone call with a debt relief specialist who will ask for a list of all your outstanding debt. The company will check that list, determine what debt is eligible, and create a debt relief program with a fixed monthly payment.


Minimum Debt Amount to Work with JG Wentworth

The minimum debt requirement for a JG Wentworth debt relief program is $10,000. It must be unsecured debt like credit cards or unsecured personal loans. Don’t assume that JG Wentworth can handle all your debt. There are creditors they are unable to negotiate with because the debt holder is in a state that they don’t do business in, or a settlement option is not available.     

Customer Timeline When Working with JG Wentworth

JG Wentworth’s debt relief programs can range from two to four years. Customers can accelerate that timeline by increasing their monthly payments. The option to extend it by deferring a payment to the end of the agreement is also available, but that could slow down creditor negotiations. Completion of the program should result in the discharge of all eligible debt enrolled.

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