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JG Wentworthmisrepresentation of contract and interest fees to mentally diminished woman

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?

Responses

  • Rp
    Rpdubs. Jul 20, 2017

    Came here lookinG for this conversation. Had a friend with a structured settlement related to severe lead poisoning and developmental delay. Not the brightest needless to say. Took out lump sums until it all was gone and then rent-a-center came and took their stuff back he couldn't afford his apt and the old broken Mercedes tanked. Then the girlfriend and friends disappeared and he was broke bouncing between gas stations and fast food restaurants sleeping on his using mother's couch. Every bad decision rolled into one.

    -1 Votes
  • Ju
    Justathoughtofmine Sep 20, 2013

    Sorry, in my previous post I wrote "graphical" errors, which was auto-corrected. I meant to type or grammatical errors...

    0 Votes
  • Ju
    Just a thought of mine Sep 20, 2013

    To stopbeinganidiot,
    Your post contained errors in proper grammar, punctuation, and spellIng . If you are going to ridicule another based on their poor writting skills, please write a post without these errors yourself. You are in no place to call another an idiot if you lack the same basic knowledge to complete a paragraph that is free of any punctuation or graphical errors.

    I can make a recommendation for you. Most of your post was written with run on sentences. Please take a refresher course in English to learn how to write a complete sentence properly. Spell check ( other than suggesting to rephrase) can't help you there.

    0 Votes
  • St
    stopbeinganidiot Sep 17, 2013

    Why don't any of you people speak proper English or write using proper grammar or punctuation or even spelling? I mean, there is a spell check at the bottom of the text box!! No wonder you idiots are getting scammed out of your structured settlements, if you can't even speak the language properly, how can you possible understand the legalese of the financial contracts you sign? If I may make one recommendation to everyone on here, GO TO SCHOOL AND GET AN EDUCATION BEFORE WORRYING ABOUT YOUR CASH PROBLEMS!! You can go to a community college or state institution on federally guaranteed student loans if you don't what little cash would be needed to pay in-state tuition up front. Once you've completed some basic English reading and writing courses as well as some intro to finance and perhaps math courses, then go back and look at your structured settlement/cash issues and stop looking like ignorant fools ranting and crying about how some corporation took advantage of you, when you let them.

    3 Votes
  • Ev
    EVELYN T. WOODSON Nov 22, 2011
    This comment was posted by
    a verified customer
    Verified customer

    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 [protected]

    Comments

    -3 Votes
  • Ev
    EVELYN T. WOODSON Nov 22, 2011
    This comment was posted by
    a verified customer
    Verified customer

    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 [protected] WE SHOULD ALL GET AFORME A NETWORK AND HELP POTENTIAL VICTIMS . AND FILE COMPLANTS WIHT BBB AND ATTORNEY GENERALS ACROSS THE NATION.

    -3 Votes
  • Au
    Austin71 Jul 24, 2017
    This comment was posted by
    a verified customer
    Verified customer

    @EVELYN T. WOODSON JG Wentworth,
    I would have to say it's a scam in getting his money or some companies money then you have to pay them back with heavy interest damn that's expensive grrr.

    -1 Votes
  • Jo
    jonathan walker May 21, 2011
    This comment was posted by
    a verified customer
    Verified customer

    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.

    -1 Votes
  • Sp
    SPF123 Aug 02, 2010

    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.

    1 Votes
  • Ha
    happymama May 20, 2010
    This comment was posted by
    a verified customer
    Verified customer

    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.

    -1 Votes

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