J.G. Wentworth has regressed. For some reason, despite a Chapter 11 filing last month the company claims once again that it is "the undisputed leader in the structured settlement industry". It also goes on to state " sell some or all of your structured settlement, annuity or life insurance policy for cash now. Download Alexa Internet - J.G. Wentworth 6172009
The reasons why this is egregious false advertising are as follows:
The claim that J.G. Wentworth makes and has previously made is and has been in dispute. Therefore logically, the entire claim must be false.
Upon information and belief J.G. Wentworth is not part of the structured settlement industry. We suspect these denizens of Structured Settlement Aper's Pillory would like to be!
The company purchases rights to deferred payments. With respect to structured settlement payment rights, J.G. Wentworth buys them. J.G. Wentworth funds structured settlement factoring transactions. J.G. Wentworth is a factoring company. For some unexplained reason J.G. Wentworth appears to be ashamed of the word "factoring" even though a structured settlement factoring transaction is an intrinsic part of what it does every day. The word factoring does not even appear in the glossary of key terms on its web site.
Upon information and belief, J.G. Wentworth has no ownership interest in a structured settlement general agency, or the manufacturer of a structured settlement annuity or United States Treasury Bond Trust (the only two "qualified funding assets" for structured settlements that are set forth in the United States Internal Revenue Code).
Given avoidance of the seminal term to what it does in relation to structured settlements (in its online advertising) this author believes that J.G. Wentworth makes the false advertising claim to divert active litigating plaintiffs/consumers who seek legitimate information about structured settlements from websites of those individuals that can provide this information AND place them in structured settlements.
If in fact J.G. Wentworth can prove it is in the structured settlement industry, by supplying proof of its ownership interest in a structured settlement general agency, or the manufacturer of a structured settlement annuity or United States Treasury Bond Trust, this author will gladly provide a written apology and publish it here. Such proof will have to show that such ownership interest existed on or prior to June 17, 2009.
The claim of "cash now" has already been impeached by the recent video testimony of General Counsel of the National Association of Settlement Purchasers (on the Legal Broadcast Network), an association to which J.G. Wentworth belongs.