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JG Wentworth Debt Settlement Reviews

Dena Standley | June 07, 2024

Dena Standley
Legal Expert, Paralegal
Dena Standley, BA

Dena Standley is a seasoned paralegal with more than 20 years of experience in legal research and writing, having received a certification as a Legal Assistant/Paralegal from Southern Technical College.

Edited by Hannah Locklear

Hannah Locklear
Editor at SoloSuit
Hannah Locklear, BA

Hannah Locklear is SoloSuit’s Marketing and Impact Manager. With an educational background in Linguistics, Spanish, and International Development from Brigham Young University, Hannah has also worked as a legal support specialist for several years.

Fact-checked by George Simons, JD/MBA

George Simons
Co-Founder of SoloSuit
George Simons, JD/MBA

George Simons is the co-founder and CEO of SoloSuit. He has helped Americans protect over $1 billion from predatory debt lawsuits. George graduated from BYU Law school in 2020 with a JD/MBA. In his spare time, George likes to cook, because he likes to eat.

Summary: If you find yourself drowning in debt, debt settlement can be your lifeboat. JG Wentworth has been offering these services for decades, but that doesn’t make it your best option for debt settlement. Consider settling the debt yourself with the help of SoloSettle.

“A debt-free life is possible!”

This statement is the first thing you'll see when you visit JG Wentworth’s official website. They promise clients they will lower their debt and help them get out of debt faster. While they have managed to help thousands of consumers do exactly that, they have also frustrated many others.

JG Wentworth is a legitimate debt settlement company that has been in business for over thirty years. Other services they provide are structured settlement and annuity purchasing services. In this article, we’ll examine JG Wentworth’s debt settlement services and whether or not they are worth the trouble.

While debt settlement can be a great option if you are struggling with debt, you should take a close look at JG Wentworth’s debt settlement services before enrolling in their program. Alternatively, you can take matters into your own hands and settle your debt with the help of SoloSettle.

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How does JG Wentworth work?

JG Wentworth works with consumers to help them manage their debt and recover financially. They start this process by assisting them in developing a debt relief plan that fits their financial situation. Debt settlement is often the only option for consumers with multiple debts and poor credit scores.

JG Wentworth assigns you a debt specialist to go through the entire process with you and help you get out of debt in 24–48 months. These are the steps you will go through if you work with them:

  1. Submit your personal and debt information on their online platform.
  2. A debt specialist will contact you to assess your debt situation and if you qualify.
  3. Enroll in the program by signing documents and opening a savings account with a debt payment processing company.
  4. Begin by making monthly payments for six to twelve months.
  5. A debt specialist negotiates with your creditors for a settlement deal.
  6. Once you approve the settlement deal, the payment processing company will send money to the creditors until you clear the debt.
  7. After you pay the debt in full, the creditor will report “debt settled in full” on your credit report.

JG Wentworth promises to give you the support you need throughout the settlement process. They claim to keep in touch every step of the way, contacting consumers whenever there is an update regarding their case.

JG Wentworth customer reviews

Despite their promises, JG Wentworth has received negative reviews on various platforms. For example, they have more than 100 complaints on their Better Business Bureau profile, and Trustpilot shows that 165 consumers gave a 1-star review of JG Wentworth debt settlement. The complaints submitted mention the following:

  • Lack of proper communication
  • Failure to keep their promises
  • Charging exorbitant fees
  • Failure to close accounts on time

Below is an example of a real complaint against JG Wentworth, taken from their BBB profile.

“I quit my job on 2/2021 and joined JG Wentworth to help with my bill payments. I kept my end of the bargain and paid JG Wentworth, sometimes two to three times. They get from me $250. In April, I was told I would get a new negotiation, then they said in May. They told me I needed more money in escrow. I currently have $1,154.59 in escrow, and they are getting another $250 on Friday. I have four accounts still waiting to be negotiated, and two accounts are prelegal. I asked if they could settle one or both of the accounts in prelegal and was told that I needed more funds in escrow, a 17-month program. JG Wentworth said to me if I paid more money, I could complete the program. I have a new job and pay JG Wentworth on time. Their delay is affecting my credit score and my credit.”

Despite the negative reviews, JG Wentworth has maintained a decent star rating on most platforms, a 4.8-star rating on Trustpilot, and a 4.24 on the BBB page.

Action to take when JG Wentworth violates your consumer rights

The Fair Debt Collection Practises Act and debt settlement laws protect consumers from being scammed and harassed. They hold these debt settlement companies accountable for malpractice and often require them to correct the error or face a lawsuit.

JG Wentworth has been sued by the CFPB due to unfair business practices, more often in the structured settlement area. If you have been treated unfairly by JG Wentworth, report them to the Fair Trade Commission or submit a complaint to the CFPB platform.

There are numerous negative reviews on JG Wentworth Debt Settlement, and a common theme is a lack of transparency in how much the debt settlement process will cost.

Even among satisfied consumers, the time spent working on their debt settlement program could have been reduced if the consumer had the tools to settle their own debts confidently. Consumers are also often caught unprepared for the ongoing fees they pay to have JG Wentworth negotiate their settlement offers.

SoloSettle tool gives consumers the ability to settle debts themselves, safely and securely, with transparent pricing.

Settle debts on your own with SoloSettle

You can take matters into your own hands and settle your debts by yourself with the help of SoloSettle.

SoloSettle, powered by SoloSuit, is different from traditional debt settlement companies. Here’s how:

  • You can settle the debt on your own with SoloSettle.
  • You have legal defense built in with SoloSuit. You can respond to a debt lawsuit and fight off collectors in court while working on the settlement.
  • You don’t have to make any payments until you’ve reached a debt settlement agreement.
  • You can settle a debt of any size with SoloSettle. Many debt settlement companies require you to have a large debt of $15,000 or more to enroll.
  • You stay updated with each step of the settlement process until an offer is accepted by your creditor or collector.

Check out this video to learn more about how to settle your debt on your own—once and for all.

What is SoloSuit?

SoloSuit makes it easy to fight debt collectors.

You can use SoloSuit to respond to a debt lawsuit, to send letters to collectors, and even to settle a debt.

SoloSuit's Answer service is a step-by-step web-app that asks you all the necessary questions to complete your Answer. Upon completion, we'll have an attorney review your document and we'll file it for you.

>>Read the FastCompany article: Debt Lawsuits Are Complicated: This Website Makes Them Simpler To Navigate

>>Read the NPR story on SoloSuit. (We can help you in all 50 states.)

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