Hi folks, J.G. Wentworth here with a cautionary word about those blank checks credit card companies send out to customers around the country.
You know the ones we’re talking about, right? Transfer your credit card balance with no interest, just fill in the amount here! an offer will read. Or: Need cash quickly? – Fill out this check and we will send you the money!
Here’s the problem with those offers: the money you may get now may cost you much, much more down the road.
Let’s take just one example of how credit card companies woo unsuspecting customers with these blank check offers. Say you’re having trouble paying off $5000 on a credit card, and get a blank check in the mail from another credit card company offering to transfer that balance at 0% interest for six months. Seems like a great deal, right?
The answer is, it may be – just watch out for the fine print. Because after those six months are up your new credit card company may begin to charge you exorbitant interest rates anywhere from 17% to 25%, or even higher. These large balance transfers may also come with certain fees assessed immediately at the time of the transfer; in other words, these so-called “blank checks” could cost you hundreds of dollars in fees just to fill out!
A better option if you’re looking for cash now? – Reach out to J.G. Wentworth. We are this nation’s largest purchaser of structured settlement and annuity payments, and when you sell your payments to us for cash, you are not borrowing money from an outside source. In fact, you’re not borrowing money at all. All you are doing is getting the money that is owed to you into your pocket sooner – in other words, not adding on to any debt in your life.
Our recommendation is that you be very wary of ‘blank check offers’ – they could do much more harm to your financial situation than you’d expect. And if you would like more information about how to sell your future structured settlement or annuity payments for cash now – money that will go straight into your pocket – please give us a call anytime at 877-227-4713.