JG Wentworth Review

JG Wentworth has offered debt relief services for over 30 years. But is it the best in the industry? Find out in this review.

JG Wentworth is a reputable debt relief company with over 3 decades of service. Its debt specialists negotiate with your creditors so you can settle your debt for a lower payment.

The catch is that your creditors are not obligated to accept JG Wentworth's settlement offers. And JG Wentworth's fees are percentage-based, which can be expensive.

Having said this, you'll find out from this review how JG Wentworth works, how much it costs, and if it's worth trying.

What is JG Wentworth?

JG Wentworth is a debt relief company that offers debt settlement and debt consolidation loans. And it has been doing so since 1991.

JG Wentworth primarily negotiates with your creditors to lessen your debts through its debt specialists. But it can also refer and offer loans for debt consolidation through its partner, Engine by MoneyLion. More about debt consolidation later.

On average, clients save up to 51% of their enrolled debts, excluding fees. Typically, debts are also settled within 24-48 months.^[1]

Who is it best for?

JG Wentworth is best for people who owe more than $10,000 in unsecured debts, which are debts not backed by collateral.^[2] These could include your credit cards and store card debts.

You can schedule a free consultation to know which of your debts (if not all) are qualified.

Who should skip JG Wentworth?

If you owe less than $10,000, skip JG Wentworth. Other debt relief companies have a lower minimum debt requirement and qualify more types of unsecured debts.

JG Wentworth also isn't the best option if you don't want your credit score to drop. This is because you'll need to pause your debt payments while JG Wentworth negotiates to lower your debts.

Hence, you may gain missed payments on your credit reports. The pros and cons may help you further understand if it's worth it.

Pros and Cons

Pros:

• Over 30 years of experience
  
• Reduce principal debts, interest, and fees
  
• Offers debt consolidation loans
  
• A+ rating and BBB accreditation^[3]
  
• Accredited by AADR^[4] and IAPDA^[5]
  
• No upfront fees

Cons:

• At least $10,000 in unsecured debts
  
• Fees can be expensive
  
• No guarantee that creditors will settle
  
• Credit score will drop
  
• Creditor can sue you
  
• Not available in all states

Since JG Wentworth offers 2 debt relief services, here's what you need to know about them.

Debt Relief Services

Debt specialists can help you deal with debts through:

• Debt settlement
  Certified debt specialists have experience and understanding of debt negotiations. These professionals will communicate and bargain with your creditors to lessen your debt.

• Debt consolidation
  JG Wentworth can qualify you for a larger loan with lower interest and better terms. This debt consolidation loan will come from JG Wentworth's partner lender. And you can use it to pay off many debts at once.

If you choose to go for JG Wentworth's debt settlement services, here's how it works.

How Does JG Wentworth Debt Relief Work?

During the free consultation, JG Wentworth will discuss your options. They will also review your finances and determine which debts are eligible for their program.

Here's the process:

1. Schedule a free consultation.
   Debt specialists will create a personalized debt resolution program based on your debts, budget, and target timeline.

2. Create a dedicated account.
   This is where you'll set aside your monthly funds. Your monthly deposits are based on your debt resolution program.

3. Stop paying your debts.
   Before JG Wentworth can start negotiations, you must stop paying your debts. That way, your creditors will be more willing to settle for a lower payment than getting nothing.

4. Deposit your monthly payments.
   Do this while debt negotiators negotiate with your creditors. JG Wentworth can take 24–48 months to negotiate for all your enrolled debts.

   You can expect your first settlement within a few months while you build your funds in your dedicated account.

5. Agree to the settlement amount.
   Once JG Wentworth reaches a settlement, you get a notification in your online portal. If you agree with the settlement amount, you can use your accumulated funds to pay your creditors.

JG Wentworth's fees are calculated in your debt resolution program. You won't need to set aside a budget for the fees.

Here's how much these fees cost.

Pricing And Fees

JG Wentworth charges 18%-25% of enrolled debt.^[6] This is already included in your monthly deposits.

That said, JG Wentworth does not get their fees unless you settle each negotiated debt. You don't need to worry about hidden fees.

Given the fees, how do you know if JG Wentworth is worth the cost? Read on.

Is JG Wentworth Worth It?

JG Wentworth can be worth it if you owe over $10,000 in unsecured debts. The more you owe, the more you can potentially save via debt settlement services.

On average, previous JG Wentworth clients saved up to half of their original debts (excluding JG Wentworth's fees). You can settle your enrolled debts anywhere from 24–48 months.

Convinced of JG Wentworth? Here's how you can get started.

How To Sign Up

If you owe more than $10,000 in unsecured debts, this is how you can sign up for JG Wentworth's debt settlement service:

1. Go to the JG Wentworth's sign-up page.
   
2. Choose your debt amount and enter your ZIP code.
   
3. Fill in your first name, last name, email address, and phone number.
   
4. Confirm your address.

A JG Wentworth specialist will contact you after you sign up. It's a free consultation where you will discuss options for your debts.

Is JG Wentworth Reliable?

JG Wentworth has been in the business for more than 3 decades. It is among the most experienced in debt relief compared to other debt relief companies.

JG Wentworth has also partnered and worked with many major creditors because of its extensive track record in the industry. Established connections and relationships may result in smoother negotiations and faster settlement offers.

Plus, JG Wentworth is accredited by the AADR and the IAPDA. In addition, it has an A+ rating and is accredited by the Better Business Bureau.

Looking into its clients' experiences can help you build more trust in the company.

Customer Reviews

According to Kate, JG Wentworth was able to help her settle one of her debts quickly. And that she's had a reliable customer support along the way.

However, Jeanette experienced the opposite regarding her settlements.

Note that signing up for debt settlement doesn't automatically guarantee your debts will be reduced. Settlements depend on JG Wentworth's negotiation skills and creditors' willingness to settle.

Customer Service

If you have questions or concerns, you can contact JG Wentworth via the following:^[7]

• Phone: 888-570-5240; from 8 AM to 11 PM ET on Monday through Thursday, 8 AM to 9 PM ET on Friday, and 9 AM to 6 PM ET on Saturday
  
• Email: debt@jgwentworth.com

If you want to visit JG Wentworth's headquarters, it's located at 1200 Morris Drive, Chesterbrook, Pennsylvania 19087.

How JG Wentworth Compares

If JG Wentworth does not fit your needs, you can consider other options, like:

JG Wentworth vs Accredited Debt Relief
Like JG Wentworth, Accredited Debt Relief has a $10,000 minimum debt requirement to apply. This is also only for unsecured debts.

That said, Accredited Debt Relief is slightly cheaper than JG Wentworth. Its fees range from 15–25%, while JG Wentworth charges 18–25%.

In addition, Accredited Debt Relief also offers debt consolidation loans through its affiliates. If you want to pay off many debts at once, you may qualify for a loan and borrow $1,000–$100,000.

JG Wentworth vs National Debt Relief
National Debt Relief works with more types of unsecured debts for its debt settlement services compared to JG Wentworth. What's more, you only need to owe $7,500 to qualify.^[8]

National Debt Relief can negotiate debts like credit cards, gas cards, and department store cards. Some of your business debts or private student loans may also be qualified.

Like Accredited Debt Relief, National Debt Relief charges 15–25% as settlement fees—cheaper than JG Wentworth's fees.^[9]

Imagine Living Life Without Debt

Click Here to Apply for Debt Relief

• Get a free savings estimate today
• See how quickly you can be debt free
• No upfront fees and no obligation

Bottom Line

JG Wentworth has a long track record for debt relief services. It has established a relationship with major creditors across different industries to negotiate for you confidently.

That said, JG Wentworth can only help you with unsecured debts, and fees can become expensive. Plus, JG Wentworth is not available in all states.

But you may see JG Wentworth's value if you have a lot of unsecured debts. JG Wentworth can potentially negotiate up to half of your debt amount, which could mean huge savings on your end.

References