JG Wentworth Personal Loans

JG Wentworth Personal Loans Reviews

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About JG Wentworth Personal Loans

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JG Wentworth is a nationally recognized financial services company that helps people get cash in times of need. Although its “877 Cash Now” television commercials have made JG Wentworth synonymous with structured settlements, it also offers debt relief services and annuity purchasing and began offering loans in 2023, with a focus on debt consolidation. Its loans are only available to residents of California and Utah.

    Pros & Cons

    Pros
    • No prepayment penalty
    • Competitive interest rates
    Cons
    • Only available in Utah and California
    • High loan minimum
    • Low loan maximum

    Our editor’s take

    Although JG Wentworth is a household name, it isn’t well known for its personal loans. Since it only offers them in two states and has a high minimum loan amount ($5,000) and a low maximum loan amount ($25,000), it takes a very specific borrower to be the right fit for a JG Wentworth personal loan.

    If you live outside of its service area or need a loan beyond its limits, JG Wentworth isn’t for you and you’ll need to consider other personal loan lenders.

    JG Wentworth personal loan products

    JG Wentworth only offers one personal loan, which is unsecured, meaning it doesn’t require collateral. Loan amounts range from $5,000 to $25,000, with repayment terms of 24 to 60 months. However, you’ll need to live in Utah or California in order to be eligible.

    JG Wentworth personal loan rates

    JG Wentworth’s personal loans come with annual percentage rates (APRs) ranging from 7.99% to 35.99% as of publishing. Your individual rate will be determined by factors such as your credit history and your loan’s term.

    JG Wentworth personal loan fees

    With a JG Wentworth personal loan, you’ll be responsible for paying some fees. Your origination fee is built into your APR, but you’ll still need to pay late fees if you fall behind on your loan payments. The late fee amount isn’t disclosed on JG Wentworth’s website.

    If you wish to pay your loan off early, you won’t be charged any prepayment penalties.

    How to apply for a JG Wentworth personal loan

    JG Wentworth personal loans are simple to apply for, with an online application available on its website. Although it doesn’t disclose any other eligibility requirements, you’ll need to live in California or Utah in order to be eligible for a personal loan.

    If you live in either of these states, you can apply by following these steps:

    1. Check your rates: By providing your ZIP code, information about the loan you need and your contact information, JG Wentworth will let you know which rates are available to you. This won’t have an impact on your credit score.
    2. Choose an offer: Once you’ve reviewed your rate options, you can choose a loan offer that works best for your budget.
    3. Upload documentation: JG Wentworth will request that you upload documents that can help verify the personal and financial information you provided. That said, it doesn’t disclose what documents these are until you are at this phase of the application process.

    Once you’ve applied, you’ll need to wait for a loan decision from JG Wentworth. If approved, your loan will be deposited into your bank account.

    How do JG Wentworth personal loans compare?

    JG Wentworth personal loans hold value for some borrowers but generally fall short when compared to other lenders. It has a slim loan amount range, with very limited availability and limited term lengths. However, it does have a competitive interest rate.

    Here is how JG Wentworth and Upgrade compare side-by-side:

    JG Wentworth FAQs

    What is JG Wentworth?

    JG Wentworth is a financial services company that offers structured settlement payment purchasing, annuity payment purchasing, lottery and casino payment purchasing and debt relief services. With these offerings, it is able to help customers get money when they need it.

    Where are JG Wentworth personal loans available?

    At this time, JG Wentworth personal loans are only available to residents of California and Utah.

    Can I qualify for a JG Wentworth personal loan with bad credit?

    JG Wentworth doesn’t disclose its minimum credit score requirements, so there is a chance that you can be approved for a loan even with a bad credit score. That said, bad credit borrowers shouldn’t expect the best rates since those are reserved for borrowers with excellent credit.

    Is JG Wentworth legit?

    JG Wentworth has more than 137,000 customers across its various products and an A+ from the Better Business Bureau. As of publishing, it has 3.9 stars for its debt relief program and 4.1 stars for its structured settlement service on ConsumerAffairs.

    Its lending business is new, however, having just started in 2023 with licenses only for California and Utah. As such, it is understandable if you prefer to seek out a lender with more experience.

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    JG Wentworth Personal Loans Company Information

    Company Name:
    JG Wentworth
    Website:
    www.jgwentworth.com