Complaint Review: J.G. WENTWORTH 321 HENDERSON RECEIVABLES - BRYN MAWR Pennsylvania

CAUTION!!! Please use caution if you MUST enter into a transaction with J.G. Wentworth! I would strongly recommend never doing business with this company, and please let me tell you why...

After watching their countless commercials on T.V., I had decided to call JG Wentworth to see how much they could offer me if I sold a few of my future annuity payments. They called several times every day for three months promising to have the deal closed in 4-6 weeks. They said that no other company could get the deal approved as they could and as quickly as they could.

I really needed the funds for a few things I had planned on doing, and now it was just a matter of signing with the company that gave the most competitive offer. I went back and forth a few times with a few different companies until JGW offered me an amount I could agree on. They told me that they were not making any money on the deal and were just about breaking even, maybe even losing money, but wanted the deal for market share purposes and wanted to knock off the smaller competitors.

My sales rep at JGW said that their company had enough money that they could lose money on a few deals in order to gain market share. And after a few months of hearing their sales pitches and promises, they reeled me in like a fish on a hook.

A soon as I signed with them and overnighted the contract, all the constant calls suddenly stopped. They never returned my phone calls or answered my questions. I had called a few times with questions and they never got back to me. My sales person was always "unavailable" or "in a meeting." The 4-6 week timeframe was of course, another promise unkept. I waited over four months just for the first court date, and let me tell you why there were two court dates.

On the first court date, I woke up at the crack of dawn and waited hours, but JGW's lawyer never showed up, or so I thought. What had actually happened? I never really knew. Something about the name of the insurance company needed to be written a different way or so JGW claimed. They never bothered to pick up the phone to tell me that the court date had been rescheduled and so I ended up wasting my time.

My sales representative claimed he knew nothing about it and not so much as apologized for the inconvenience I was subjected to. What ever happened to common courtesy and decency? Nonetheless, I waited another month for the actual court date, which went smoothly. The judge approved the deal and we received a court order, which I faxed to JGW right after the hearing, as requested, so that they could start the process of funding my account, or so I thought.

One of the managers at JGW confirmed that he had forwarded the copy of the court order to the legal department and they had faxed it to my insurance company. He told me to follow up on the funds on Tuesday. I then spoke to my sales rep who said that it could take up to 3 weeks or more until I receive my funds. What?! He had been telling me all this time that once we get a court order, I would have my funds within two business days. "It's because of your insurance company; they need to review everything over again" is what he says. Whatever. Lies and lies. Anyhow, I call on Tuesday and my sales rep transfers me to a manager, who tells me that they are no longer funding my deal and are cancelling, and did not so much as give me a solid reason as to why. They told me some more lies upon lies.

After conducting some research on my own, I have come to the conclusion that they decided to cancel after having me waste my time for almost six months, because they decided that they could make more money on another deal or was not making enough money on my deal. So much for their claims of only caring about the market share and not caring about whether they were making money on my deal. They offered me an amount that they could not live up to, dragged me along for several months, and then just cancelled without so much as an explanation.

There is more to the story, but it would be too long if I wrote about everything. I just wanted everyone to get a jist of the ordeal I was subjected to by J.G. Wentworth. Some may wonder why I didn't cancel with them sooner. I guess I didn't want to start the process all over again with a different company, since I had already been waiting for so long. I do not want someone else to make the same mistakes I did and I want to warn everyone out there who may be contemplating whether or not to conduct a transaction with JGW: If you like being enticed and then slapped around over and over again, then be my guest and go with them, but if not, go with a company that appreciates and values its customers.

IRATE with JGW

Atlanta, Georgia

U.S.A.