• Report: #923061

Complaint Review: Peachtree Settlement Funding

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  • Submitted: Mon, August 06, 2012
  • Updated: Mon, February 04, 2013

  • Reported By: Linda — Jamaica New York United States of America
Peachtree Settlement Funding
201 King of Prussia Road Radnor, Pennsylvania United States of America

Peachtree Settlement Funding "Peachtree" or "J.G. Wentworth" Lump Sum Payments or Settlement Rip-Off? Radnor, Pennsylvania

*Consumer Comment: I am not here to share insults

*Consumer Comment: i know where you have been

*Consumer Comment: Just wondering

*Consumer Suggestion: Like I've said to my wife, "who in their right mind would fall for this deal?"

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   "Peachtree Settlement Funding" the biggest scam with structured settlements..... BEWARE, you may be signing your whole life away!! They advertise on television with the slogan, "We want our money, and we want it now!"

Peachtree Settlement Funding, J.G. Wentworth, Oasis and others are all funding sources that allow customers to have access to a structured settlement that they have won in a lawsuit.

What "Peachtree" does not tell you -- is instead of making your life easier by giving you instant cash money which is won for a lawsuit, is that you have to pay them back exhorbitant "fees" to have access to YOUR OWN LAWSUIT MONEY.

     AFter you have signed on the dotted line, what they do NOT tell you is that you have "SOLD" YOUR OWN STRUCTURED SETTLEMENT and ALL RIGHTS TO IT to THEM -- and in actuality YOU are paying Peachtree to have access to your own funds -- that were yours to begin with.

The scam is of this Agency is that once they advance their customers their own funds to them, instead of the "structured small payments" that one may be receiving after a lawsuit, you no longer have any "rights" to your own money, as once YOU SIGN, they DO NOT TELL YOU that you have given up all "rights" and it now becomes the money of "Peachtree Settlement Funding."

They charge exhorbitant "fees" in the fine print of the lump sum YOU are receiving of YOUR OWN money, but what they DO NOT tell customers is once the agreement is signed, thereafter, the money from your lawsuit is NO LONGER YOURS.....

    If there is a Settlement payout in increments (if the lawsuit is a big one), they call themselves "purchasing" your settlement payments, which in most cases you will never see again, once a lump sum payment is paid out, and you have received your money.

      Have an Attorney examine any Contract, which these people make you sign whenever they give you a lump sum payment from these kinds of Companies.  They make you feel that you are "getting your money now" -- but they DO NOT TELL YOU the costs and what is involved.

This is the biggest consumer fraud that has been going on for years, and advocated on facebook, and the internet.  Their intention is to get customers to "sell" all of their structured settlement payments to them, for the "favor" of advancing to you -- YOUR OWN money.

I was ripped off, and there are many others who are dearly sorry that went to a Peachtree Settlement Funding in the first place.  

    They give the impression that by coming to them -- YOU WILL HAVE more money, and since when is giving a lump sum of settlement money to customers a way of "stealing" the rest of the settlement payments that the customer has remaining?  Instead "YOU LOSE" and they win.

Something needs to be done, and a lot of customers are shammed and scammed and have no where to turn.

    In addition, with Peachtree (who recently merged with J.G. Wentworth/ and DID NOT WANT to tell the Public about it), they give you your own lump sum settlement money at interest rate which no one can really afford in addition to the fees that they charge with the Contracts that they require you to sign.   Have an Attorney with you whenever you go to these types of Companies when any lawsuit

is won.  Like me, and other customers, you may be signing your whole life, and settlement money away forever.  There is no way to get that money back into your hands again!!! (And it's yours!)  There ought to be a law against these Settlement Funding AGencies....... Not bad, if the money left is still yours -- but when you sign on the dotted line -- it becomes "theirs" and this -- they never tell you!!

    Consumers Beware!!!

This report was posted on Ripoff Report on 08/06/2012 08:34 AM and is a permanent record located here: http://www.ripoffreport.com/r/Peachtree-Settlement-Funding/Radnor-Pennsylvania-19087/Peachtree-Settlement-Funding-Peachtree-or-JG-Wentworth-Lump-Sum-Payments-or-Settlem-923061. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

I am not here to share insults

AUTHOR: MLS582 - (United States of America)

I was cheated, by someone who thought I would get the help I needed, as if they had compassion for me too.  70% went to them and 30% to me as found on the receipt, its about presume its plain and simple, its sign or not get the help.

http://www.bankrate.com/finance/debt/want-settlement-cash-now-not-so-fast-1.aspx

Some people charge less yet not always easy to find, if they still exist. - Its their costs, yet the money they can gain too. I am not the only one with the problem, several places on the internet show this, for example:

http://redtape.nbcnews.com/_news/2012/06/15/12227169-bad-deal-lump-pension-payouts-for-veterans-draw-new-scrutiny?lite

You can not fool everyone telling people they did not see, what they did, its written or spoken, the fact is every thing is seen for what is, beliefs become faith, yet still fact or fiction. Not every one has the ability of being a lawyer. Not all lawyers are ethical too, its about winning - be it good or bad.

People do insult others, to presume to hide the truth about shown facts - therefore insults are not facts, therefore how little do we know about facts, not willing to confront them doing it, yet people do.

Fact is - a thief is a thief, I was cheated, now I have opened myself up to ridicule. Many times it has been shown how people, work things to their advantage, the fine print, the wording, the presentation, etc.

 
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#2 Consumer Comment

i know where you have been

AUTHOR: Chimere - (USA)

I dealt with jgw and they put it off like you are the person who calls them non stop and beg them for money when it is them doing this.  They screw up with their shady process and then they want to put the blame on you.  These companys need to go down and all of us who lost our money to these snakes needs our day in court... The next time they call me they will be introduced to my best friend first name dial last name tone..Stay away from jgw peachtree
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#3 Consumer Comment

Just wondering

AUTHOR: Ramjet - (U.S.A.)

I have never done this, it sounds like a bad deal to me. It appears that you just assign the settlement over to them and they then give you a lump sum based on the original amount and whatever fees they charge.  You then have immediate cash but of courses it's much less than you would have received over time.

Exactly how did you think the process works?
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#4 Consumer Suggestion

Like I've said to my wife, "who in their right mind would fall for this deal?"

AUTHOR: Ken - (USA)

It's not a scam and is spelled out in the contract you should have read before signing it. The ads are structured to take advantage of people's desire for immediate satisfaction. NO ONE forces you to sign the contract...unless of course the really DID hold a gun on you.

Where did you think the money was coming from? Did you really think you would receive a lump sum (effectively buying out your annuity) and STILL own the annuity and get monthly payments from it?  There is NO Santa Claus.

Since the "did not tell you" the terms of the contract, reading it would have been a smart thing to do.  Written contracts are used instead of verbal so there's no "he said of didn't say" later.

Sure they want your settlement as an investment, but YOU are the one that contacted THEM and agreed to their terms by putting your signature on that contract.

It's not a Ripoff or you could hire an attorney and sue them.  Bet the attorney either won't take your case or will lie and say you might want to sue them and of course give the attorney a hefty retainer.

Your Ripoff Report, however, is good advice and may prove helpful to others contemplating doing the same thing.  They may thank you for this.

BTW, "Josey Wails" will post some B.S. later, he should be ignored as his brain ceased to function 4 years ago while he was in 3rd grade.

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