- Report: #923061
Report - Rebuttal - Arbitrate
Complaint Review: Peachtree Settlement Funding
Peachtree Settlement Funding201 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, 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!!
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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