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DealFlow Media (DFM) wrote in their recent structured settlement wire that 321 Henderson, a J.G. Wentworth affiliate was denied a transaction in New York this past week. In their report DFM stated that a 90% discount was applied to the case. The report did not specify the exact payments that were being sold, but the article did provide a few numbers that we can run some calculations with.

It was reported that JG Wentworth was purchasing $102,948.57 of future payments for a net amount of $10,500. DFM states that this transaction has a rate of 10.2% which is false. Structured settlement factoring transactions are priced using discount rates. The rate of this transaction was 8.78%, which is actually a good rate. Even though this transaction had a good discount rate, the factoring transaction would not be in the best interest of the annuitant due to the reasoning for the transaction.

Settlement Quotes would have recommended that this individual try other resources to purchase a vehicle. Cashing out a structured settlement to purchase a vehicle is most of the time not in the best interest of an individual, especially with the rising costs of energy.

In the future, DealFlow Media needs to use correct verbiage when reporting structured settlement factoring cases. Settlement Quotes has built several calculators that are able to calculate the discount rate of all types of factoring transactions. JG Wentworth or any other company would not have tried to factor a transaction with a discount rate of 90%, which would have left the annuitant with a penny.

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