Can you see yourself selling your winning MM/PB ticket to JGWentworth etc?

Reply #29

Teddi — Thu, 23 May 2013 22:48:22 GMT

Those We Buy Ugly Houses adverts were everywhere in South Florida. TV commercials, bus seats, buses, radio. They're similar to how JG Wentworth is now. Flooded everywhere with the advertisements. No matter what shape your house was in they would buy it. Considering how the housing market in Florida was at the time, they no doubt made a killing from each flip.

Reply #28

Teddi — Thu, 23 May 2013 22:40:19 GMT

There are quite a few cases out there of people who took the annuity, thinking it was safer than lump sum because they have issues budgeting, still overspend on the annuity and sell future earnings for a lump sum and then go bankrupt. Selling the annuity is always portrayed as the beginning of the end.

But they never say what percentage the lump sum represented and which company they use. It's always implied that they were taken advantage of and got bupkis for their annuity payments. I have... [ More ]

Reply #27

haymaker — Wed, 22 May 2013 19:22:40 GMT

I forget when the cash option started, but I do remember saying well its about time

when I said long time player I was talking about ppl. like me, been playing since 1972 except when living in states that did'nt have lottery.

Reply #26

Jill34786 — Wed, 22 May 2013 19:10:58 GMT

Actually I was too young to play when jackpots were only offered with an annuity but I did read about on the Internet

Reply #25

Jill34786 — Wed, 22 May 2013 19:04:20 GMT

Many people do not realize that in the cash option for PB was introduced in 1997. Winners before that time had no choice but to accept the annuity.

Reply #24

haymaker — Wed, 22 May 2013 15:48:22 GMT

Yea, any longtime player should remember when there was no cash option.

Reply #23

Stack47 — Wed, 22 May 2013 15:43:55 GMT

Lots of people forget not long ago there were very few jackpot games offering the cash option.

Reply #22

onlymoney — Wed, 22 May 2013 11:19:29 GMT

It may work for others but not me. The more pestering, the better chance I won't buy. And If there was a way for me to tell them that, I would.

I don't mind a quick reminder maybe once or twice a week, but when every channel on TV or radio station that I tune into has them yelling and screaming makes me want to change the channel. Mind you, I'm not talking about a few times a day, from morning till night, but literally in a 10 hour period the two I mentioned and the other two I didn't, 50 tim... [ More ]

Reply #21

jackpotismine — Wed, 22 May 2013 11:11:52 GMT

I agree. I'm a simple man with simple needs. A simple house, an excellent wife and of course excellent health is all that I need.

Reply #20

billionaire2bee — Wed, 22 May 2013 10:52:19 GMT

LOL CALL JG WENTWORTH 877 CASH NOW... CALL NOW.....I will never forget that commercial as long as I live...it's a love hate thing with me cause Ive heard it so much I can sing along with the whole thing....but to answer you question those structured settlement companies are as bad as the payday loan people...Say you have a 10 million dollar annunity....well if you want to cash in the whole 10 to them they will give you a lump sum payment of less than 5 million dollars...Now I ask why would you w... [ More ]

Reply #19

Jill34786 — Wed, 22 May 2013 03:04:15 GMT

There is nothing wrong with paying cash for a house unless it ties up a large majority of your liquid assets.

My previous response was actually towards home predators who seek distressed home owners and attempt to buy their properties for 60-70% of actual value. Not sure about Canada but here in the states there are signs posted everywhere offering cash for homes in any condition. These offers that they bring are extremely low-ball offers and they(home buyers) are usually backed by investors

Reply #18

Jill34786 — Wed, 22 May 2013 02:53:30 GMT

You need to go back and read what I was responding to.

I was referring to past lottery winners that were forced to take an annuity because the option of lump sum wasn't offered thereby falling prey to these sharks who offered structured deal settlements.

Reply #17

noise-gate — Wed, 22 May 2013 02:36:46 GMT

Pestering works sometimes Onlymoney. You know when your good friend tried pestering you to go out with his gf's sister and make it a foursome..you kept saying no no. Turns out in the end you did go out with her for perhaps one date, and hated the idea.

But that pestering worked. These companies know that if you see and hear it long enough- you just might try them,much like a silly song you hear on the radio that you find yourself whistling the tune too. They want inside your head.

Reply #16

Astekblue — Wed, 22 May 2013 02:32:42 GMT

Reply #15

weshar75 — Wed, 22 May 2013 02:27:37 GMT

I would not sell to jgwentworth or any other people like that because I don't need much to live on so millions would be nice but not necessary. I have lived a long time on $20,000 or less a year so even my state lotto jackpot looks good right now.-weshar75

Reply #14

onlymoney — Wed, 22 May 2013 01:17:23 GMT

I vowed years ago to boycott those companies like those commericals with the Vikings and JG Wentworth start playing, but got even more irritated when they showed up every 10 minutes on almost every channel. Morgan and Morgan is another one. Every station I tune into has a commercial with Morgan.

If i ever need any legal advice, I will never choose Morgan, just because of their pestering me, torturing me, annoying me ALL THE TIME !

Overkill

Reply #13

Stack47 — Wed, 22 May 2013 00:36:49 GMT

Some borrow on their future payments, like a payday loan and might not cash a check for two or three years. We're talking about people that might have a difficult time making it from pay check to pay check, win a jackpot and then only get one pay check a year. The Win For Life jackpot paid $13,000 every three months which would help a budget.

Reply #12

rdgrnr — Wed, 22 May 2013 00:31:48 GMT

No.

Reply #11

Ronnie316 — Tue, 21 May 2013 23:10:05 GMT

I will turn the TV off before I will watch those morons dance around.

Reply #10

Ronnie316 — Tue, 21 May 2013 23:08:41 GMT

She is a financial guru who thinks you can get better rates elsewhere.

Reply #9

haymaker — Tue, 21 May 2013 23:00:07 GMT

No, cause I would never take the annuity in the first place,

I do think their TV ads are funny, bunch ppl. riding on a bus singing call J. G. Wentworth when you need cash now LMAO

and then old J G is in the drivers seat, subliminal message anyone

Reply #8

yoho — Tue, 21 May 2013 22:32:34 GMT

Sorry, but is there anything wrong with paying cash for your house?

It's the absolute safest guaranteed 3%+ interest per year investment... I'm sure even the riskiest fund managers have some safe investments in their

portfolios....

Reply #7

Ronnie316 — Tue, 21 May 2013 22:26:22 GMT

How can you sell to one of those companies and then get offered a lump sum

Reply #6

noise-gate — Tue, 21 May 2013 22:16:33 GMT

Great heads Up for those thinking of going this route.

What's that old saying A fool his money are soon parted

Reply #5

Jill34786 — Tue, 21 May 2013 22:10:37 GMT

Pior to having a lump sum option offered, I am willing to wager that a large percentage did indeed sell to one of these companies. Same kind of characters that want to pay cash for your house.

Reply #4

Ronnie316 — Tue, 21 May 2013 21:58:55 GMT

The settlement is reserved for the same suckers who took the annuity in the first place.

Reply #3

impacc — Tue, 21 May 2013 21:55:15 GMT

A buddy of mine won 325,000 on a progrssive quarter machine in Tunica mississippi.he originally opted to take the 20 year payments of 16,000.00 once a year.he use to tell me the U.P.S.man comes every year 1 day after thanksgiving.needless to say he fell on hard times after 3 years and family issues ( ( house burning ) no insurance on his home which i couldnt fathom that ,but thats another story.He went with J.G.Wentworth and just like the names says his money WENT and his net WORTH away as well.... [ More ]

Reply #2

Coin Toss — Tue, 21 May 2013 21:40:18 GMT

As far as I know, you have to have a structured settlement before dealing with them.

Selling them an uncashed ticket wouldn't qualify and they wouldn't go for it.

When they do buy these settlements it's for a dime on the dollar , if that. For all the arguments here on LP about taking the annuity and not cash i hate to think of how many jackpot winners tool the annuity and then sold it to one of these compnaies.

Reply #1

maringoman — Tue, 21 May 2013 20:29:40 GMT

No, never. I honestly don't know which is worse, lawyers or those Structured Settlement companies.

Can you see yourself selling your winning MM/PB ticket to JGWentworth etc?

noise-gate — Tue, 21 May 2013 20:20:40 GMT

You know those outfits that have cash on hand which allows you to avoid all the hubbub out there?

Has the thought ever crossed your mind in the event you won the big One