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Posted: 10/29/2013 4:09:45 AM EDT
[#1]
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I assume you think the same thing about mortgage lenders? 
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I'll just assume you're not an actuary. 
That's a safe bet.  I assume you think the same thing about mortgage lenders?
If they are "too big to fail", you Goddamn right I do. Fucking thieves and scumbags. |
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Posted: 10/29/2013 4:12:53 AM EDT
[#2]
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Was my experience. Ex was a paralegal at a firm specializing in accidents. Was common for settlements to be setup this way. Quote HistoryQuoted:
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The amusing thing is, the money is put into structures like that by judges because the people are fucking idiots with money as is. It is a means to prevent morons from going on spending binges. not neccessarily. Wtf are you talking about. Money is not just put into an annuities by judges on a daily basis,You have to prove the person is mentally deficient and unable to care for themselves. Being bad with money is not a grounds for a judge to step in and take your money away and put it into an annuity.If that were the case 75% of this country would have what little net worth they have locked up in annuities. In cases of a judgement in a civil suit it is because the loser of the case may not have the means to pay the lump sum at once and thus must make monthly or yearly payments to the winner. OR In case of a will which when written the children are not even born or a very small how the fuck do they know that there kids are idiots. It is the Parents not a judge who dictates how the money is paid out. OR If people win the lottery and choose annuity(for reasons unto themselves) they will get a yearly check.They may for reasons they decide need to accelerate payments. OR In the case of an actual annuity where say someone is getting 2k a month for life. But they need to pay medical bills,or buy a home or invest in a business oppurtunity they can convert all or part of their annuity. Companies like JG Wentworth have been around for a long long time. Depending on the amount you want to convert into a lump sum,the total amount of the annuity itself and the source of the annuity funding. These companies take between 25-55%. It all depends on the risk because they are essentially loaning you the money with you/your annuity promising to pay it back. Was my experience. Ex was a paralegal at a firm specializing in accidents. Was common for settlements to be setup this way. yes but not for the cause that you originally stated. It is usually because the loser of the case does not have the funds to pay in a lump sum. |
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Posted: 10/29/2013 4:16:17 AM EDT
[#3]
Go look on their facebook. 90% of people hate their commercials. Myself, I want to throw my TV out the window when that POS commercial comes on.
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Posted: 10/29/2013 7:36:16 AM EDT
[#4]
Quote HistoryQuoted: If they are "too big to fail", you Goddamn right I do. Fucking thieves and scumbags. Quote HistoryQuoted: Quoted: Quoted: Quoted: I'll just assume you're not an actuary. That's a safe bet. I assume you think the same thing about mortgage lenders? If they are "too big to fail", you Goddamn right I do. Fucking thieves and scumbags. Then I also assume you will lend me about $250K and I'll pay you back $260K over the next 30 years.  Saying no to my request puts you in the same category as those you are on here railing against. |
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Posted: 10/29/2013 9:17:40 AM EDT
[#5]
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Then I also assume you will lend me about $250K and I'll pay you back $260K over the next 30 years.
Saying no to my request puts you in the same category as those you are on here railing against.
Not in the "money changing" business. Sorry. But if it makes you feel any better some of the money you WOULD be getting from any of the shitbags was probably my tax money so there is that..... |
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Posted: 10/29/2013 9:31:47 AM EDT
[#6]
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From the article: This is poorly written at best. This doesn't mean they keep 9 to 15% of the money. It means they use a discount rate of 9-15% when calculating the NPV. That's a good old fashioned raping. Quote HistoryQuoted:
From the article: J.G. Wentworth may be willing to help you out, but it will retain a portion of your payout in return. The total amount it pockets is called the "effective discount rate," which includes all its fees, and can total 9 percent to 15 percent or more. This is poorly written at best. This doesn't mean they keep 9 to 15% of the money. It means they use a discount rate of 9-15% when calculating the NPV. That's a good old fashioned raping. This. Look up the PV or PVA Factor table. If you were to get a discount of 10% on an annuity that paid out over 10 years, you would get a .385 factor value. Laymans terms - You will be paid $100,000 for 10 years at the end of every year. JG Wentworth will buy that annuity from you for $385,000 now. That's if we discount on an annual basis. A fool and their money are soon parted. |
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Posted: 10/29/2013 9:33:23 AM EDT
[#7]
"It's my money, and I want it now!"
Sounds like an EE dispute
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