If this doesn’t galvanize people’s anger about factoring company business practices, or clearly underscore the need to beef up the so-called "standards" employed by some judges in the "best interest" process, I don’t know what will.
PLEASE READ THIS!
"I want to know how JG Wentworth can get away with preying on people the way that they do. They are greedy money hungry people who preyed on a naive 18 year old with learning disabilities that did not FULLY understand what they were telling her. In my eyes, this amounts to stealing. She REALLY did not understand. All she knew was that she was getting money." Kerry, Fort Ashby, WV
Hang on there’s more…
"So, on 11-5-07 she got her money.
After giving her boyfriends step father $2000.00 to bail that loser out of jail (I am sure his mother had something to do with Brittany wanting the money), hotel hopping, shopping and drug doing ensued.
11-7-07, upon returning from work, my phone rang. It was my oldest sister Kim telling me to sit down. I expected her to tell me that something had happened to mom, being the natural order of things. No, I did not expect what I heard.
My 18 year old niece was on life support".
Click here for Kerry’s full story posted November 11, 2007 on Rip Off Report
It is unclear from Rip Off report whether or not the factoring transaction took place in West Virginia or some other state.
I, for one, would be interested to know (1) the name of the attorney who represented the niece and whether or not that was a "friendly" attorney supplied to the "victim" by, JG Wentworth (2) the identity of the judge that approved the structured settlement factoring transaction to know exactly what he or she reviewed and the specific criteria that he or she used to determine that such a sale was in that young girl’s best interest (3) was the transaction in question "forum shopped" by JG Wentworth? (4) what federal and state regulators the public should thank for this travesty (when they inevitably solicit for campaign contributions) for not doing ANYTHING about requiring professional licensure for companies like JG Wentworth and each of its representatives at the every least on par with life settlements.(5) In the spirit of #4, what written documentation there is to support that a needs analysis was performed by JG Wentworth on this young woman and the justification for its pushing forward with this latest deal even though it was initially rejected by the judge? Is profit motive the only justification and is that a legitimate enough reason?
THE NEXT TIME JG WENTWORTH PUBLISHES THE AMOUNT OF MONEY IT HAS SECURITIZED BACKED BY STRUCTURED SETTLEMENTS, READERS SHOULD THINK ABOUT THIS STORY
3/8/2008 248pm : One commenter has emailed "The REAL question is – how many other stories like that (and worse) are out there, but are unreported?"
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