J.G. Wentworth Originations, LLC has filed an application seeking court approval for the transfer of structured settlement payment rights in Pinellas County, Florida. The application was submitted on February 5, 2025, and involves a transaction with American General Assignment Corporation and American General Life Insurance Company.
The case centers around a payee who wishes to sell their structured settlement payments for a lump sum to fund home repairs. J.G. Wentworth Originations, LLC is acting as the transferee in this transaction, as defined by the Florida Structured Settlement Transfer Act. The structured settlement obligor is American General Assignment Corporation, while the annuity issuer is American General Life Insurance Company.
The payee, a 29-year-old resident of Pinellas County without dependents, entered into an Absolute Assignment Agreement with J.G. Wentworth Originations, LLC to sell their right to receive periodic payments from a structured settlement. The applicant seeks approval from the court under Section 626.99296 of the Florida Statutes to ensure compliance with state laws governing such transfers.
In support of its application, J.G. Wentworth provided several documents including a Disclosure Statement outlining the terms of the transfer and detailing any associated fees or costs deducted from the gross amount payable to the payee. The company asserts that all statutory requirements have been met and that notice will be given to all interested parties at least 20 days before the hearing.
J.G. Wentworth requests that the court find this transfer in the best interest of the payee and direct American General Assignment Corporation and American General Life Insurance Company to remit assigned payments directly to them. They also seek confirmation that no other party has authority over these payments once transferred.
Representing J.G. Wentworth are attorneys Richard T. Petitt and Chad S. Wilson from Petitt PLLC based in Tampa, Florida. The case is filed under Case Number 25-000543-CI in front of Judge Ken Burke at the Circuit Court of Pinellas County.