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JG WENTWORTH, Maine Complaints & Reviews - misrepresentation of contract and interest fees to mentally diminished woman |
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JG WENTWORTH |
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misrepresentation of contract and interest fees to mentally diminished woman
Complaint Rating: 
Company information:
Maine
United States
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Kathryn survived a head on car accident with a drunk driver, Kates head injuries were severe. After a lot of thought and planning, a structured settlement was set up for Kathryn to have a lifetime income starting in May 1987. Kate has been receiving payments monthly for income. We have just discovered that JG Wentworth convinced Kate in August 1996 to take part of her settlement out of Liberty Mutual. This decision has reduced her income leaving her only able to afford a studio apartment, no transportation and with very little spending money. JG Wentworth with its exorbitant interest rates. has received $416, 000.00 from her repayments.for the $152, 300.00 which Kate took out of her life income. Due to her physical and mental diminishment caused by a head injury in the car accident in 1980( in which her mother was killed, ) Kate is not competent to reorganize the carefully thought out dispensation from Liberty Mutual. She is in no way competent to make major decisions regarding the dispensation of that money. She was a victim and led astray. Kate does not have employment and she may never be employed because of her deficiencies. We want her to feel capable and responsible. That is the way we want her to feel, but she is not able to be responsible for making any life changing decisions such as the contract that JG Wentworth made with her. She told us that JG Wentworth called her once or twice a day to entice her to withdraw in lump sums, her lifetime income. She was coerced give in and agree to take the money. All to late, we now have heard that those repeated phone calls began each time that a contract with JG Wentworth was completed. They convinced her to take out another loan, at least three or more times. There should be a law that prohibits companies like JG Wentworth from preying on people with diminished mental development. How could a person with limited judgment and reasoning be allowed to make such a monumental decision?
She will not be out from under JG Wentworth until 2013. Is there any recourse? |
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 United States |
 Loans |
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| there is no way they can do that, has she been to court because this whole process cant be completed without a court order and being seen before a judge so there has to be more to this, the judge for one is there for your protection and he would not have aprove dit if it was not good for your benefit now for her to be able to afford a studio what the hell is she complaining about someo ppl out there like her in her condition dont have that so that makes me feel like you are in it for the cash greed and that is a sin my friend I have seen plenty people like you that only hang around because of the cash I recieve a settlement like your friend but in my case my father was the one who died and suffered I lived and I am fine and I know for a fact there are going to be people around you just because of the money so I say what does she have to say about this and not you. But she cant know can she because she is damaged. |
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| I sort of have to agree, with happy mama, Most transactions financial or not can be overwhelming or misunderstood, It would have been in her best interest to hire an attorney to ensure a fair process, Most people fail to realize that you can contact several companies to get a feel of what you would be dealing with, Personally i have found JG Wentworth to be very patient and not uncommonly good at they're marketing and sales tactics. I have learned a lot about the process because of patience on my end on on they're end. Clearly it is your interest to get the most out of your transaction, it is also clear that any lump some company will try to get the most out of the transaction. My suggestion is... Decide what amount best suits your needs. And do your home work. Most people who are unhappy with the after math, were unhappy with the process from the beginning. It is in your best interest to come up with a realistic needed amount and also determine what would be a realistic interest rate. Keep in mind, you can negotiate! Sometimes sitting on your decision could mean receiving a higher net with a lower interest rate. If you are unsure or not happy with the terms, do not continue. Chance are if your unhappy in the end, you were not happy with the decision from the start. No one said, business was fair, so do your homework, Not just on any company but the entire process including expected rates and terms of agreement. Most people who take to these transactions are often in immediate need of some sort of financial aid. Companies like JG Wentworth will provide you with respectable business which some find unfavorable, yet it is no different than the way other businesses conduct business. Chances are, you do not need the amount you are requesting so, question YOUR intent throughout the process, remember each yr contracted means consistent interest rate payback. DO YOUR HOME WORK, i do not mean on the company, most companies practice and trade in the same manner. They only become devils when you realize that you are equally unhappy at the end as when you started. try to understand the balance of rates and what your money is actually worth down the road. NEGOTIATE, BUT BE REALISTIC. |
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| I agree with this complaint. I had a structured settlement and sold it to 1 of the top companies and now I because I was mentally Unstable and heavily medicated because of a tratic brain injury. That was 6 years ago and I am not able to pay bills I am disabled and they did the same thing to me call me constantly every day. I was never in court they said I did not have to be there I only sign 1 paper and I don't remember even doing that. I believe that I should get my money back. |
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Judges are the same is wentworth and company. and never protect the little people. they tke bribes and kickbacks, I know this person is telling a true painful expereince, I'm thankful for her information it saved me from signing on the Went worth Dotted line.
Evelyn T. Woodson .Valrico FL USA 813 667-0565 WE SHOULD ALL GET AFORME A NETWORK AND HELP POTENTIAL VICTIMS . AND FILE COMPLANTS WIHT BBB AND ATTORNEY GENERALS ACROSS THE NATION. |
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I 'M a FL State Certifed Victims services Provider. The many ripp off and lawyer and Business Victimizations is why I get the education, so I know what to look out for. I can advise those who are about to get ripped of and save them the pain and suffering of loss. And offer other possiable wasy to slove issues that bring people in contact with ripp off like Went Worth. I can be reached toll free at 813 -667-0565
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