Litigation

J.G. Wentworth Reverts to Old False Advertising Claim

By John Darer

J.G. Wentworth has regressed. For some reason, despite a Chapter 11 filing last month the company claims once again that it is "the undisputed leader in the structured settlement industry".  It also goes on to state " sell some or all of your structured settlement, annuity or life insurance policy for cash now.

The reasons why this is egregious false advertising are as follows:

The claim that J.G. Wentworth makes and has previously made is and has been in dispute. Therefore logically the entire claim must therefore be false.

Upon information and belief J.G. Wentworth is not part of the structured settlement industry. We suspect these denizens of Structured Settlement Aper's Pillory  would like to be!

 

The company purchases rights to deferred payments. With respect to structured settlement payment rights J.G. Wentworth buys them. J.G. Wentworth funds structured settlement factoring transactions. J.G. Wentworth is a factoring company.

Upon information and belief, J.G. Wentworth has no ownership interest in a structured settlement general agency, or the manufacturer of a structured settlement annuity or United States Treasury Bond Trust (the only two qualified funding assets for structured settlements that are approved in the United States Internal Revenue Code.

This author believes that J.G. Wentworth makes the false advertising claim to divert active litigating plaintiffs/consumers who seek legitmate information about structured settlements from websites of companies that can provide this information.

If in fact J.G. Wentworth can prove it is in the structured settlement industry, by supplying proof of its ownership interest in a structured settlement general agency, or the manaufacturer of a structured settlement annuity or United States Treasury Bond Trust, this author will gladly provide a written apology and publish it here.

The claim of "cash now" has already been impeached by the recent video testimony of General Counsel of the National Association of Settlement Purchasers (on the Legal Broadcast Network), an association to which J.G. Wentworth belongs.

Full post as published by Structured Settlements 4Real on June 17, 2009 (boomark / email).