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Posted: 10/28/2013 9:08:50 AM EST
So how many pennies to the dollar does JG Wentworth actually give for people's annuity/settlements? Daytime commercials are horrible, ambulance chasers and preditory lenders. Rare weekday off today and had the TV on during lunch.
Link Posted: 10/28/2013 9:10:30 AM EST
My guess is they give you a lump sum for some sort of percentage. I'd bet they take at least 15%.
Link Posted: 10/28/2013 9:10:38 AM EST
Originally Posted By grampapaco:
So how many pennies to the dollar does JG Wentworth actually give for people's annuity/settlements? Daytime commercials are horrible, ambulance chasers and preditory lenders. Rare weekday off today and had the TV on during lunch.
View Quote

Who else is going to sponsor Jerry Springer and Dr. Phil?
Link Posted: 10/28/2013 9:11:38 AM EST
Link Posted: 10/28/2013 9:11:47 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Kevv:
My guess is they give you a lump sum for some sort of percentage. I'd bet they take at least 15%.
View Quote

I'm guessing closer to 50%.

"But you don't have to wait!"
Link Posted: 10/28/2013 9:12:09 AM EST
[Last Edit: 10/28/2013 9:14:10 AM EST by cavedog]
I dunno, but the lady singing on the bus has a set of major league hooters.


Link Posted: 10/28/2013 9:14:47 AM EST
Several of these outfits have been in trouble with different states' AG's offices.

It's all about present value of future payments such as annuities, lawsuit awards, etc. They have been around since time eternal.
Link Posted: 10/28/2013 10:06:10 AM EST
[Last Edit: 10/28/2013 10:07:08 AM EST by puskrat]
I'd say expect to be remunerated to the tune of about 60%. Auctioneers, State Lotteries, etc seem to be about there when converting hope to cash.

I am thinking the aforementioned hooters are not quite major league. lovely, no doubt, but I'd say AAA (league, not cup)
Link Posted: 10/28/2013 10:07:37 AM EST
Most firms of that type run 45% to 55%...
Link Posted: 10/28/2013 10:11:03 AM EST
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.
Link Posted: 10/28/2013 10:11:10 AM EST
I know someone who owns one of these businesses. They make piles of money.
Link Posted: 10/28/2013 10:14:41 AM EST
I hate those damn commercials
Link Posted: 10/28/2013 10:15:15 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By BladedRonin:
I hate those damn commercials
View Quote

They are horrible.
Link Posted: 10/28/2013 10:16:53 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By graysonp:
Try Google. A quick search seems to show that the average fees are 10-15%, which really isn't bad if you really do need all your money up front.
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hmm if it is that low you might make out if the take the installments in a lottery win and then get a lump sum through them.
Link Posted: 10/28/2013 10:17:06 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Kevv:
My guess is they give you a lump sum for some sort of percentage. I'd bet they take at least 15%.
View Quote


I would bet it's a whole lot more than that. When people "need" it fast, they will pay a hefty premium. I'm thinking more like upwards of 40% if i had to guess.
Link Posted: 10/28/2013 10:20:11 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By dbd870:

They are horrible.
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Originally Posted By dbd870:
Originally Posted By BladedRonin:
I hate those damn commercials

They are horrible.


yet i bet you can say their phone number out loud right now.
Link Posted: 10/28/2013 10:21:35 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By h3smith:
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.
View Quote


I guess I wouldn't say amusing. The money is often to support them for the rest of their lives due to injury, etc. Instead they get the reduced lump sum, piss it away and then try to become part of the FSA.

Link Posted: 10/28/2013 10:22:41 AM EST
I brokered the sale of a structured settlement to JG Wentworth once. I shopped it around 4 or 5 of their competitors. First offers were highway robbery. When I informed the companies I was shopping around, they fell over each other to outbid the other. I took the best deal and they were making around 13% of present discounted value.
Link Posted: 10/28/2013 10:24:04 AM EST
[Last Edit: 10/28/2013 10:27:12 AM EST by graysonp]
Link Posted: 10/28/2013 10:24:43 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By h3smith:
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.
View Quote

Or more typically because a defendant can buy a settlement valued at $100k but maybe only have to pay $60K for it today. Plaintiff will get $100k after taking monthly installments for the next 240 months.
Link Posted: 10/28/2013 10:25:44 AM EST
I've wondered about that, too.

Let's say you win a big but not huge lottery jackpot. $3M.

You can take the cash - $1.5M less taxes is going to work out to about $1M in your hand.

Could you take the $3M as a 20-year annuity and get someone like Wentworth to cough up a better cash settlement?

I don't know if the Wentworth's of the world could cover some $300M jackpot, but I bet they'd be thrilled to offer up a slightly higher than 50% cash option on a <$10M annuity.
Link Posted: 10/28/2013 10:27:03 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By saabdrifter:
I know someone who owns one of these businesses. They make piles of money.
View Quote


Are any of them publicly traded? Seems like they're a license to print money.
Link Posted: 10/28/2013 10:29:04 AM EST
I'm still trying to figure out why all of their ads feature vikings one way or another. Maybe they were out of work from the Capitol One commercials and available on the cheap?
Link Posted: 10/28/2013 10:34:08 AM EST
As someone who has had clients who have used this "service", I can tell you it's on the order of 40-50% of total value in terms of what they pay for right to the future payments. It's a real FUCKING and the people who do it deserve a special place in hell along with the shitbags that buy viaticals.
Link Posted: 10/28/2013 10:36:48 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Will:
As someone who has had clients who have used this "service", I can tell you it's on the order of 40-50% of total value in terms of what they pay for right to the future payments. It's a real FUCKING and the people who do it deserve a special place in hell along with the shitbags that buy viaticals.
View Quote


It's not JG Wentworths fault that stupid, desperate people can't do math.

If they could do math, then pawn shops wouldn't exist, either.
Link Posted: 10/28/2013 10:37:11 AM EST
It's going to be something less than the Net Present Value of the future payments, if you don't know what that is just search for a NPV calculator.
Link Posted: 10/28/2013 10:39:12 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By JBski:


It's not JG Wentworths fault that stupid, desperate people can't do math.

If they could do math, then pawn shops wouldn't exist, either.
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Originally Posted By JBski:
Originally Posted By Will:
As someone who has had clients who have used this "service", I can tell you it's on the order of 40-50% of total value in terms of what they pay for right to the future payments. It's a real FUCKING and the people who do it deserve a special place in hell along with the shitbags that buy viaticals.


It's not JG Wentworths fault that stupid, desperate people can't do math.

If they could do math, then pawn shops wouldn't exist, either.


Nor would rent to own places be able to get 26 payments of $30 each for a 42" flat screen that retails for around $400.
Link Posted: 10/28/2013 10:39:50 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By JBski:


It's not JG Wentworths fault that stupid, desperate people can't do math.

If they could do math, then pawn shops wouldn't exist, either.
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Originally Posted By JBski:
Originally Posted By Will:
As someone who has had clients who have used this "service", I can tell you it's on the order of 40-50% of total value in terms of what they pay for right to the future payments. It's a real FUCKING and the people who do it deserve a special place in hell along with the shitbags that buy viaticals.


It's not JG Wentworths fault that stupid, desperate people can't do math.

If they could do math, then pawn shops wouldn't exist, either.



Classless shitbags are classless shitbags- whether they have money or not. Having money doesn't make someone a respectable person- not to me anyway.
Link Posted: 10/28/2013 10:40:13 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By crurifragium:


Nor would rent to own places be able to get 26 payments of $30 each for a 42" flat screen that retails for around $400.
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Originally Posted By crurifragium:
Originally Posted By JBski:
Originally Posted By Will:
As someone who has had clients who have used this "service", I can tell you it's on the order of 40-50% of total value in terms of what they pay for right to the future payments. It's a real FUCKING and the people who do it deserve a special place in hell along with the shitbags that buy viaticals.


It's not JG Wentworths fault that stupid, desperate people can't do math.

If they could do math, then pawn shops wouldn't exist, either.


Nor would rent to own places be able to get 26 payments of $30 each for a 42" flat screen that retails for around $400.



Also shitbags.
Link Posted: 10/28/2013 10:43:07 AM EST
[Last Edit: 10/28/2013 10:44:40 AM EST by vm1970]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By h3smith:
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.
View Quote

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.
Link Posted: 10/28/2013 10:44:51 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By BladedRonin:
I hate those damn commercials
View Quote


They pander to the lowest common denominator. People that are at home during the day, during the week are most likely FSA.
Just like the scumbag ambulance chaser lawyer commercials.
Link Posted: 10/28/2013 10:47:22 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Will:

Nor would rent to own places be able to get 26 payments of $30 each for a 42" flat screen that retails for around $400.


Also shitbags.
View Quote


Having a mid sized flat screen must be a human right that needs immediate fulfillment. God forbid someone have to suffer the indignity of putting aside $60 a month for almost seven months to get that TV.
Link Posted: 10/28/2013 10:48:07 AM EST
[Last Edit: 10/28/2013 10:50:16 AM EST by FMJ3]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Will:
As someone who has had clients who have used this "service", I can tell you it's on the order of 40-50% of total value in terms of what they pay for right to the future payments. It's a real FUCKING and the people who do it deserve a special place in hell along with the shitbags that buy viaticals.
View Quote

Why? Are they forcing them at gunpoint to do the deal?

Did your "clients" not go to them asking for cash in hand?

The free market isn't always kind to those that can't rub two stick together. There's a quote about a fool and their money out there somewhere.
Link Posted: 10/28/2013 10:53:41 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By FMJ3:

Why? Are they forcing them at gunpoint to do the deal?

Did your "clients" not go to them asking for cash in hand?

The free market isn't always kind to those that can't rub two stick together. There's a quote about a fool and their money out there somewhere.
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Originally Posted By FMJ3:
Originally Posted By Will:
As someone who has had clients who have used this "service", I can tell you it's on the order of 40-50% of total value in terms of what they pay for right to the future payments. It's a real FUCKING and the people who do it deserve a special place in hell along with the shitbags that buy viaticals.

Why? Are they forcing them at gunpoint to do the deal?

Did your "clients" not go to them asking for cash in hand?

The free market isn't always kind to those that can't rub two stick together. There's a quote about a fool and their money out there somewhere.



Did I say it was illegal or even that is should be? NO, I GODDAMN SURE DID NOT.

I personally think they are classless pieces of shit- their commercials would seem to bear that out....... You think whatever you want. The whole "Well it's legal so it's moral" is a bunch of fucking bullshit as far as I'm concerned, again, YOU do and think whatever you like. To me the people in the predatory commerce business are pieces of shit and I don't have to love them just because they have a right to fuck people under the law.
Link Posted: 10/28/2013 10:55:41 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Will:



Did I say it was illegal or even that is should be? NO, I GODDAMN SURE DID NOT.

I personally think they are classless pieces of shit- their commercials would seem to bear that out....... You think whatever you want. The whole "Well it's legal so it's moral" is a bunch of fucking bullshit as far as I'm concerned, again, YOU do and think whatever you like. To me the people in the predatory commerce business are pieces of shit and I don't have to love them just because they have a right to fuck people under the law.
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Originally Posted By Will:
Originally Posted By FMJ3:
Originally Posted By Will:
As someone who has had clients who have used this "service", I can tell you it's on the order of 40-50% of total value in terms of what they pay for right to the future payments. It's a real FUCKING and the people who do it deserve a special place in hell along with the shitbags that buy viaticals.

Why? Are they forcing them at gunpoint to do the deal?

Did your "clients" not go to them asking for cash in hand?

The free market isn't always kind to those that can't rub two stick together. There's a quote about a fool and their money out there somewhere.



Did I say it was illegal or even that is should be? NO, I GODDAMN SURE DID NOT.

I personally think they are classless pieces of shit- their commercials would seem to bear that out....... You think whatever you want. The whole "Well it's legal so it's moral" is a bunch of fucking bullshit as far as I'm concerned, again, YOU do and think whatever you like. To me the people in the predatory commerce business are pieces of shit and I don't have to love them just because they have a right to fuck people under the law.

I'll just assume you're not an actuary.
Link Posted: 10/28/2013 10:57:37 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By FMJ3:

I'll just assume you're not an actuary.
View Quote



That's a safe bet.
Link Posted: 10/28/2013 11:06:33 AM EST
[Last Edit: 10/28/2013 11:10:11 AM EST by JBski]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Will:



Classless shitbags are classless shitbags- whether they have money or not. Having money doesn't make someone a respectable person- not to me anyway.
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Originally Posted By Will:
Originally Posted By JBski:
Originally Posted By Will:
As someone who has had clients who have used this "service", I can tell you it's on the order of 40-50% of total value in terms of what they pay for right to the future payments. It's a real FUCKING and the people who do it deserve a special place in hell along with the shitbags that buy viaticals.


It's not JG Wentworths fault that stupid, desperate people can't do math.

If they could do math, then pawn shops wouldn't exist, either.



Classless shitbags are classless shitbags- whether they have money or not. Having money doesn't make someone a respectable person- not to me anyway.


I wouldn't call them shitbags so much as shameless opportunists who exploit a market niche created by annuity payments, and impatient people.

ETA: I'm not exactly calling these folks pillars of humanity, they are more like hyenas and vultures. They wouldn't exist if there weren't any stupid people with a poor grasp of basic math skills who are impatient.
Link Posted: 10/28/2013 11:07:40 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By vm1970:

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.
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Originally Posted By vm1970:
Originally Posted By h3smith:
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.
Link Posted: 10/28/2013 11:11:20 AM EST
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Originally Posted By evnash:


yet i bet you can say their phone number out loud right now.
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Originally Posted By evnash:
Originally Posted By dbd870:
Originally Posted By BladedRonin:
I hate those damn commercials

They are horrible.


yet i bet you can say their phone number out loud right now.

867-5301
Link Posted: 10/28/2013 11:19:52 AM EST
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Originally Posted By Razoreye:

867-5301
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Originally Posted By Razoreye:
Originally Posted By evnash:
Originally Posted By dbd870:
Originally Posted By BladedRonin:
I hate those damn commercials

They are horrible.


yet i bet you can say their phone number out loud right now.

867-5301




877 CASH NOW
Link Posted: 10/28/2013 11:21:52 AM EST
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Originally Posted By Razoreye:

867-5301
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Originally Posted By Razoreye:
Originally Posted By evnash:
Originally Posted By dbd870:
Originally Posted By BladedRonin:
I hate those damn commercials

They are horrible.


yet i bet you can say their phone number out loud right now.

867-5301


I didn't think it was possible to do that one wrong.
Link Posted: 10/28/2013 11:24:03 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Will:



Did I say it was illegal or even that is should be? NO, I GODDAMN SURE DID NOT.

I personally think they are classless pieces of shit- their commercials would seem to bear that out....... You think whatever you want. The whole "Well it's legal so it's moral" is a bunch of fucking bullshit as far as I'm concerned, again, YOU do and think whatever you like. To me the people in the predatory commerce business are pieces of shit and I don't have to love them just because they have a right to fuck people under the law.
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Originally Posted By Will:
Originally Posted By FMJ3:
Originally Posted By Will:
As someone who has had clients who have used this "service", I can tell you it's on the order of 40-50% of total value in terms of what they pay for right to the future payments. It's a real FUCKING and the people who do it deserve a special place in hell along with the shitbags that buy viaticals.

Why? Are they forcing them at gunpoint to do the deal?

Did your "clients" not go to them asking for cash in hand?

The free market isn't always kind to those that can't rub two stick together. There's a quote about a fool and their money out there somewhere.



Did I say it was illegal or even that is should be? NO, I GODDAMN SURE DID NOT.

I personally think they are classless pieces of shit- their commercials would seem to bear that out....... You think whatever you want. The whole "Well it's legal so it's moral" is a bunch of fucking bullshit as far as I'm concerned, again, YOU do and think whatever you like. To me the people in the predatory commerce business are pieces of shit and I don't have to love them just because they have a right to fuck people under the law.

So, from your tone it sounds like you took their first offer before doing the math.
Link Posted: 10/28/2013 11:25:57 AM EST
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By bteamleader:

So, from your tone it sounds like you took their first offer before doing the math.
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Never a client but wrong is just wrong.
Link Posted: 10/28/2013 11:26:03 AM EST
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Originally Posted By JBski:


It's not JG Wentworths fault that stupid, desperate people can't do math.

If they could do math, then pawn shops wouldn't exist, either.
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Originally Posted By JBski:
Originally Posted By Will:
As someone who has had clients who have used this "service", I can tell you it's on the order of 40-50% of total value in terms of what they pay for right to the future payments. It's a real FUCKING and the people who do it deserve a special place in hell along with the shitbags that buy viaticals.


It's not JG Wentworths fault that stupid, desperate people can't do math.

If they could do math, then pawn shops wouldn't exist, either.

What sad is that in FL at least, the offer to buy contains the total sum of all payments, the present discounted value of those payments, AND the offer being submitted by the buyer. The seller knows how hard they are getting fucked no more than 2 pages into the process and the first page is mostly blank.
Link Posted: 10/28/2013 11:34:01 AM EST
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Originally Posted By PirateNinja:
It's going to be something less than the Net Present Value of the future payments, if you don't know what that is just search for a NPV calculator.
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It's probably exactly the NPV of the future payments. They probably just assume incredibly high rates.
Link Posted: 10/28/2013 11:43:16 AM EST
Link Posted: 10/28/2013 11:46:52 AM EST
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Originally Posted By sitdwnandhngon:


I didn't think it was possible to do that one wrong.
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Originally Posted By sitdwnandhngon:
Originally Posted By Razoreye:
Originally Posted By evnash:
Originally Posted By dbd870:
Originally Posted By BladedRonin:
I hate those damn commercials

They are horrible.


yet i bet you can say their phone number out loud right now.

867-5301


I didn't think it was possible to do that one wrong.


Neither did I.
Guess it was worth waking up today.

Now I'ma dial up 867-5309, and holla at Jennie-O!
Link Posted: 10/28/2013 11:52:58 AM EST
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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.
Link Posted: 10/28/2013 11:57:24 AM EST
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Originally Posted By Dorcas:



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.
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Originally Posted By Dorcas:



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.



Real life scenario.

Client requests a loan against $60k of her annuity.

My partner calls up the "sharks" to see what the "discount" is. Long and short of it? After their "Legal Fees" etc....she would have gotten $12k.
Link Posted: 10/28/2013 12:02:39 PM EST
[Last Edit: 10/28/2013 12:03:16 PM EST by makintrax73]
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Originally Posted By Dorcas:

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.
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<--- THIS!!

A discount rate doesn't mean they knock 15% off the gross and hand you a check. You might get only 1/3 of the eventual value of the payout.

I've reviewed some of these contract for clients. Some of the companies require that you obtain the services of a lawyer to write a letter
that the lawyer has reviewed and advised the client as to the terms of the contract. In every single case my advice has been something like
"YOU WOULD HAVE TO BE CRAZY." Likewise for loans against expected personal injury settlements.

Link Posted: 10/28/2013 12:28:55 PM EST
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Originally Posted By Will:



That's a safe bet.
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Originally Posted By Will:
Originally Posted By FMJ3:

I'll just assume you're not an actuary.



That's a safe bet.

I assume you think the same thing about mortgage lenders?
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