The main objective of the firm named JG Wentworth is to provide immediate free flow funds to an individual in exchange of their future related payment streams. In the countries like United State citizen are backed by structured payments and annuities of almost $2 trillion which is a great opportunity in helping the citizens with liquidity option.
History of the company
- In 1983 the institutes of New York came up with a state sponsored insurance fund related to automobile in order to provide coverage and associated drivers of high risk.
- In 1991 it came as a merchant bank dealing in healthcare transactions.
- In 1992 the insurance funds of New Jersey were not in a position to provide sufficient claims to the people. The claimants were required to wait for several months to fetch the claim. Here the role of Wentworth came in the limelight as they take the interest of the claimant from the respective company as JG Wentworth Fees and provides immediate funds to the claimant.
- In 1994, the firm was approached by Sean who was the carrier of insurance as he owns the structured settlement relating to eye injury.
- In 1995, Wentworth started purchasing lottery by providing lump sum cash.
- In 1996, the firm founded the National Association of Settlement Purchasers whose motive was to establish professional and ethical standards of industry’s conduct.
- In 1997, the firm succeeded in its first securitization transaction of payments relating to structured settlements and even started purchasing the mortgages which were privately owned.
- In 1998, the individuals started receiving money from the firm.
- In 2001, Internal Revenue Code section was signed by the President George W. Bush and so the firm establishes the providing of liquid fund to its customers with the provision of legal claims.
- In 2003, the firm movesit’s headquarter from Center City Philadelphia to Radnor.
- In 2006, the firm started buying payments related to life which was attached to many annuities and structured settlements. The holders of structured settlements and annuities were benefitted by it.
The firm operates in a dynamic environment with dedicated sales force, outings sponsored by the company, sports activity for the employees, teamwork commitment. The firm has an asset called talented and dedicated employees. This is the main reason behind its outstanding performance and success. The basic idea of the firm is to provide true services to its customers for nominal fees.
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