Falling for a cheesy commercial when it is presented on the phone over and over to a woman with diminished thought processes is understandable. In 1980 Kate survived a head on car accident with a drunk driver, Kates head injuries were severe. her suit was won because she would have a lifetime of struggle from her head injuries. 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 wondered why she never had enough money to do anything extra. We were relieved that it wasn't a drug habit as we had suspected when we recently 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 substantially 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?