by Structured Settlement Watchdog
I received a call this morning from a nice gentleman who was surprised that JG Wentworth was only offering him a purported $5,000 for his $2,000 annual payments for umpteen years. J G Wentworth is from the Philadelphia area. There's an old saying that " In Philadelphia it's worth $50 bucks", so why should anyone be surprised when seeking to do what essentially amounts to pawning their structured settlement payments. The most anyone can get, even with FinTech, "GillTech" or "FlipperTech" is pennies on the dollar.
It turns out that the payments are workers compensation, which are difficult if not impossible to sell anyway. Furthermore, in the best of circumstances there are still hard costs to be paid for court filings and associated legal fees which make such sales very bad for the seller. Even if the buyer says they are paying these costs, it is in the mix.
Bo Diddley and Louie Winthorpe haggling in the pawn shop scene from the 1983 movie " Trading Places"