Need to Sell Your Structured Settlement? Beat JG Wentworth’s Rates for a Bigger Lump-Sum with CrowFly.
Posted on December 16, 2020. Author: CrowFly
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Are you facing the difficult decision to sell your assets, such as a structured settlement, in order to get cash now? Does that phrase sound familiar? There might be a jingle playing in your head when you read “get cash now.” But before you jump right in, it is worth doing your research. (You’re here, so you are already off to a good start) You will learn that there are additional costs and concerns associated with selling your future settlement payments to JG Wentworth for an immediate cash lump sum.
Structured settlement factoring companies like JG Wentworth, and its sister companies Peachtree and Stonestreet (all under The JG Wentworth Company), act as the buyer of your future structured settlement payments. In return for transferring ownership of your future payments, any factoring company will issue a lump sum of cash upon court approval. In the case of many companies – including JGW – they take the payments they purchase from you and repackage and resell them back to banks and insurance companies on Wall Street. Thus, their incentive is to get you to sell for as little as possible so that they make the most money from the transaction. They can purchase at discount rates of 12% and then sell back to Wall Street at 3%, pocketing the difference.
So how does selling structured settlement payments through factoring companies like JG Wentworth compare to selling through CrowFly’s digital platform? In the simplest terms, CrowFly increases transparency while at the same time broadening the pool of interested buyers. These two points alone make the transaction simpler, easier to understand, and cost-effective for both parties. CrowFly isn’t incentivized to get you to sell for as little as possible; we work to find you the best buyer and get you the most money for your asset. Ultimately, we’re incentivized to get more customers by providing better deals.
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If you want to learn more, read on. We’ll cover in greater detail the differences between selling your structured settlement payments with JG Wentworth and selling through CrowFly.
Who is CrowFly?
In September 2019, CrowFly revolutionized the structured settlement selling process by creating an online platform that connects settlement sellers with eligible purchasers. CrowFly is not just another factoring company; our proprietary structured settlement marketplace connects pre-vetted buyers with sellers to minimize transaction costs of a pass-through agent. This results in more money in your pocket, not ours. This makes us the first company to prioritize the seller.
Comprised of a team of industry veterans, CrowFly’s online platform enables a more transparent experience for settlement payment sellers and investors in all 50 states. While each state has its own unique laws surrounding the transaction of structured settlements, CrowFly’s team of advisors is here to guide you every step of the way.
Selling your structured settlement with JG Wentworth
Since JG Wentworth’s second chapter 11 bankruptcy filing and acquisition by Freedom Mortgage in 2019, their business model revolves around satisfying their shareholders and maximizing their profits. Public sites suggest you can expect rates ranging from 9 to 15 percent by using JG Wentworth’s services, which can be expensive for consumers who need to pay immediate medical bills, mortgage or rent payments, or face other debt obligations.
Many other factoring companies similar to JG Wentworth can afford to charge high service fees and write contracts in their best interest because consumers have a demand for paid now and often don’t have anywhere else to turn. It can also be difficult to find and understand all your options. Now, consumers have another option to sell their future settlement payments for a low discount rate with CrowFly.
What makes CrowFly different?
Our mission is to redefine how structured settlements are bought and sold. We believe selling and buying structured settlements should be easy and transparent for everyone involved. We are committed to educating sellers and providing valuable resources to those who use our platform so they feel confident that they’re making the right decision, even when that means retaining their future settlement payments.
Our competitive discount rate is unmatched by other companies in the structured settlement and annuities industry. In our commitment to transparency, we publicly post updated discount rates through CrowFly’s platform so you can make the best-informed decision. While industry discount rates are stated to range from 6% to 12%, CrowFly’s average discount rate is currently 6.05%. And to really ensure you are getting the most cash for your future structured settlement payments, our fees are paid by the buyer of your structured settlement, not you.
When you contact CrowFly, you can expect to have a real conversation with a real person. There is no obligation or pressure to sell your structured settlement if it’s not in your best interest. Before deciding to sell your structured settlement, please speak with a financial advisor. Then, if you decide to use the CrowFly platform, we’ll be there to help you throughout the selling process.
The Settlement Selling Process with CrowFly
Our streamlined process offers a unique, low-pressure experience where you can get an anonymous estimate of the value of your asset and then register and list on your own time, from anywhere – even on your mobile device.
We understand that you deserve a better deal. With most folks having limited savings and the volatility of the current economic climate, we understand that a sudden expense can be detrimental to the average American. So contact CrowFly to speak with one of our Transaction Navigators who will help you get what you deserve.