J.G. Wentworth Funds 1,000th Customer since Equity Infusion

Specialty finance company J.G. Wentworth recently funded its 1,000th structured settlement transaction since receiving a $100 million equity infusion in early June.

According to J.G. Wentworth Chief Executive Officer David Miller, the funding represents a milestone for the company. “Our 1,000th transaction demonstrates J.G. Wentworth’s commitment to help people during these challenging times.”

Mr. Miller said that the scarcity of credit during the past year has severely restricted the ability of the settlement funding industry to purchase periodic payments that customers needed or wanted to sell. Many funding companies, he said, made commitments to purchase payments but did not have the financing to consummate the transaction, leaving their customers without a needed source of liquidity.

“Because of our continuous record of service, strong underwriting culture and leadership position in the industry,” Mr. Miller said, “J.G. Wentworth was able to secure funding in these unprecedented times, and as a result, has been able to fulfill our funding commitments to our customers on a timely and consistent basis.”

Mr. Miller said J.G. Wentworth’s 1,000th funding typified the importance of access to liquidity for the periodic payments that consumers frequently receive as part of a legal settlement. “This gentleman had just won custody of his son. But with his other two boys already living with him in his two bedroom house, he needed to add a new bedroom to his home.” Mr. Miller noted that the client’s periodic payments from a prior legal settlement did not meet his need for immediate cash. “But because we were able to fund several of his payments in advance for him, he was able to raise the cash needed to put a roof over his family’s head.”

Mr. Miller said that with summer over, J.G. Wentworth transaction volume is accelerating. “As the credit markets improve, we anticipate that J.G. Wentworth will once again reach our historical funding levels.”

If anything, he said, demand among customers has increased. “The depressed funding levels of the past year were solely a function of the credit markets,” Mr. Miller said. “The scarcity of credit which has so profoundly affected our industry also has impacted our traditional customer base, leading to increased demand for liquidity. We are delighted to celebrate this milestone and our continuing ability to assist with our customers’ needs.”


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