Thursday, November 29, 2007

It's my money AND I NEED IT NOW

JG Wentworth has people yelling "it's my money and I need it now."

For those of you who are not familiar with JG Wentworth they will pay CASH NOW on your structured payment schedule. If you are still wondering the what the heck I'm talking about, here are two examples of a structured payment schedule:

1. You win the lottery. You have an option for monthly payments or lump sum. You choose the payment schedules. Then you spend more than you receive and suddenly you owe money. Thereby, you need CASH NOW.
2. You were involved in a lawsuit. The people who owe you money agree to pay. Unfortunately, they have no money so they pay you $50.00 a month for the next twenty years! You agree to it, but later think "I WANT MY CASH NOW."

My initial thoughts are why did you agree to a structured payment schedule in the first place?

After further contemplation, I realize that not everyone understands that structured payments can be frustrating over time. JG Wentworth gives them the option to go back and take that lump sum NOW. Keep in mind nothing is for free. Find out how much they will take of that Lump Sum Payment before you receive it.

As for me, I always select lump payment on my lottery tickets when given an option.

1 Comment:

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