Here is a snippet of J.G Wentworth's recent press release:
- Do your research on firms that can purchase your structured settlement to ensure they have a reputation of offering fair value.
- Do not take the first offer to purchase your policy, but shop around to get the most value for your structured settlement.
- Depending on your financial needs, decide on whether you need to sell your entire structured settlement or just part of it.
- Consult with an attorney to make sure you understand and document any tax ramifications.
- Think about your financial needs going forward and how selling all or part of your structured settlement may impact your income later.
It is important that companies start to recognize the education that consumers need in order to improve the structured settlement factoring industry. It is good to see that JGW has taken a step in the right direction. Other companies need to step forward and realize that large profit margins are not the way into the future.
This press release points out that tort victims need to create competition between factoring companies in order to receive the best deal.