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JG Wentworth Worth for an A+ Grade

Described by Internal Revenue Code as periodic payments, structured settlements are financial/insurance arrangements that give considerable benefits. One of which is that trials can be avoided, giving room for reduced expenses for legal issues and others.  With firms such as JG Wentworth however, the claimants of structured settlements are given a different approach of how they can use it to their advantage at the times that they are in need.

As mentioned before, structured settlements are periodic payments. A claimant settles for a statutory series of payments for their compensation. This practice had its initial start in Canada, where it was utilized for the incident that involved children inflicted with Thalidomide. At such, structured settlements have become a typical application for product liability or injury cases. It was in 70s when it was given an emphasis in the United States, making it as a widely held substitute to lump cash reimbursements.  The extensive decrees by the IRS have magnified its popularity with a rise in both injury awards and interest rates. There have been many shifts in the policies set by the IRS rulings, that which included giving claimants waived federal income tax upon meeting the appropriate requirements. Lower present values for periodic payments against lump sums have also been generated through increased interest rates which led to annuity premiums.

The United States, Australia, England and Canada were among the countries that made structured payments a part of their statutory tort laws. This type of financial/insurance settlement, regarded as an asset-backed security, sometimes entails income tax, spendthrift requirements and benefits. Most of the time, the periodic payment is crafted by means of purchasing annuities, ensuring the upcoming payments. These settlements payments are also known as “periodic payment judgment” when associated into a trial judgment.

JG Wentworth Reviews reveal that the company is a commendable place for people with structured settlements to go to when they are in need of lump cash. For their delivery of service to their clients, they are even given an A+ grade by the well-respected organization Better Business Bureau. With a BBB accreditation, they impose integrity.

 

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