JG Wentworth Gains Satisfactory Rating Back Overnight

Settlement Quotes strives to make our blog entries current. Yesterday this author published an article "JG Wentworth Loses Satisfactory Rating From the BBB," in the article this author discusses how JG Wentworth has had their satisfactory rating removed from their Better Business Bureau profile.

Within a period of 12 hours, JG Wentworth's rating went from unsatisfactory to satisfactory. J.G Wentworth's BBB profile was under review for a three week period throughout September. Once their profile came back online on October 3rd, 2008 their profile was stripped of the satisfactory rating.

JG Wentworth Loses Satisfactory Rating

As of October 5th, 2008, JG Wentworth has officially been stripped of it's satisfactory rating from the Better Business Bureau.

"To have a "satisfactory BBB Rating" with BBB, a business must be in business for at least 12 months, properly and promptly address matters referred to it by BBB, and be free from an unusual volume or pattern of complaints and law enforcement action involving its marketplace conduct. In addition, BBB must have a clear understanding of the business and no concerns about its industry."

A Couple Points

Last week the NASP met for their annual meeting and a few individuals have blogged about the event. This author would like to comment on a few points brought up by other authors.

Insurance Companies Purchasing Their Own Product

There are currently two issuers who factor structured settlements- Allstate and Clearscape Funding (Symetra). The problem with these two companies is that they have high discount rates starting at 10- 12%, they take forever to complete a transaction, and it is a conflict of interest to purchase the settlement on the back end and make another profit off of the annuitant.