JG Wentworth Net Worth

JG Wentworth Net Worth

JG Wentworth net worth is $0B, as of 2023.

JG Wentworth Company is a famous American financial services company. It purchases structured settlements, annuities, and lottery payments. All this is done in exchange for a lump-sum cash settlement.

All the information about JG Wentowrth Company, services, focus, and rewards is given in this article.

JG Wentworth Company

The company focuses on key sectors like structured settlement payment purchasing, annuity payment purchasing, and lottery payment purchasing. Moreover, it also focuses on pre-settlement funding.

It is a legitimate financial services company founded in 1991. The company has been able to be accredited by BBB profile with an A+ rating. The company is also known for its television advertisements featuring “Mr. Wentworth”.

In addition, it also features a series featuring performances of lengthy jingles performed in various styles including Wagnerian opera singers.

History

JG Wentworth was founded in 1991. It was founded as a merchant bank with specialization in transactions in the healthcare industry. In 1992, the company started purchasing New Jersey auto insurance deferrals from claimants.

These were from those who could not afford to wait twelve to eighteen months for their settlements. As per Consumer Reports, customers paid an “effective discount rate” amounting to “9 percent to 15 percent or more”.

It means customers gave up 9-15% of their payments in exchange for a present-day cash amount. Consumers Reports says it is preferable to surrender fees for annuities or other alternatives.

Before 1999, there was no regulation for settlements in the state of New York. Eliot Spitzer entered into a contract with JG Wentworth to regulate the industry and limit fees. The agreement said that JG Wentworth would receive a rate of no more than 25% of the annual discount rate of annuities.

Due to the financial crisis of 2007-08, the parent company JGW Holdco LLC entered Chapter 11 bankruptcy protection. The catalyst for filing was the “liquidity problems and a tightening credit market”.

In June 2009, JGW Holdco LLC was able to receive one hundred million dollars in equity which removed the company from bankruptcy. In 2011, JG Wentworth and the same business Peachtree Financial Solutions formed a new company titled JGWPT Holdings LLC.

Both companies started operating independently just after the transition. In October 2013, the company filed for an initial public offering. The company was listed on the New York Stock Exchange under the symbol JGWE.

After the purchase of WestStar Mortgage for US$44 million in common shares and cash, the company expanded its financial offerings. In the same year, it signed a partnership with Visa to offer a prepaid card to customers.

In June 2016, it was delisted from the NYSE for failing to satisfy the continued listing rule. After a month, the company started trading on the OTC Markets Group under the symbol JGWE.

Later on November 8, 2017, the company filed for Chapter 11 bankruptcy for the second time. The company was to emerge from bankruptcy in or around January 2018 after coming to an agreement with lenders prior to filing.

Awards and Achievements

The company is known for its American daytime television commercials featuring the character of “Mr. Wentworth”. The recent series features Wagnerian opera singers performing the company’s jingle.

Taglines include “It’s my money and I need it now!” and “It’s your money; use it when you need it!”

  • A Silver Davery Award for television advertising
  • Wagnerian Operan commercial won two International Summit Awards for Best Humor and Best TV between $75K and $100K
  • Named in the category of IES Premier Sales Employer by The Institute for Excellence in Sales (2019)

J.G. Wentworth brands and subsidiaries

The main three brands owned by JG Wentworth are JG Wentworth, Peachtree, and Stone Street Capital.
Some other brands and subsidiaries include:

  • J.G. Wentworth, LLC
  • Peachtree Financial Solutions
  • Stone Street Capital, LLC
  • Stone Street Originations, LLC
  • Peachtree Life Settlements, LLC
  • J.G. Wentworth Home Equity Services, LLC
  • Orchard Acquisition Company, LLC
  • J.G. Wentworth Structured Settlement Funding II, LLC
  • PeachHI, LLC
  • J.G. Wentworth SSC, LP
  • Red Apple Management Company, LLC
  • Golden Apple Management Company, LLC
  • J.G. Wentworth Management Company, LLC
  • J.G. Wentworth Originations, LLC
  • Green Apple Management Company, LLC
  • Qualified Provider Associates, LLC
  • JGW Pre-Settlement Funding, LLC
  • Cash Now Loans, LLC
  • J.G. Wentworth Receivables II, LLC
  • Peachtree Originations, LLC
  • Lottery Originations, LLC
  • Settlement Funding Management Company, LLC
  • Peach Holdings, LLC
  • Receivables Collections, LLC
  • JGW II, LLC
  • JGW III, LLC
  • JGW-S LC I, LLC
  • JGW-S LC II, LLC

Social Profiles

linkedin See Profile
Facebook: See Profile
Twitter See Profile
YouTube: See Channel
Website: Website

FAQs (Frequently Asked Questions)

1) Is JG Wentworth Legit?

Yes, it is a legitimate financial services company founded in 1991.

2) What does JG Wentworth do?

The company focuses on key sectors like structured settlement payment purchasing, annuity payment purchasing, and lottery payment purchasing. Moreover, it also focuses on pre-settlement funding.

3) Who created the JG Wentworth?

The television commercials were produced by the ad agency Karlin+Pimsler. And, the website was developed by The Archer Group in collaboration with the JG Wentworth marketing team.

4) Who are the JG Wentworth singers?

Erin Kimball and her dad, Mike.

5) Who owns Peachtree?

Brett Thompson

6) What percentage does JG Wentworth get?

Fees range from 9% to 15% of the asset’s total value.

Similar Posts