8 Things I Wish I’d Known Before Looking Into Debt Relief
For a long time, I thought there were only two ways to deal with significant credit card debt: keep making payments or take out another loan.
Debt relief was a term I recognized but couldn’t confidently explain. Was it the same as debt consolidation? Did the debt simply disappear? Was it only for people considering bankruptcy?
After researching JG Wentworth’s Debt Relief Program, I realized it wasn’t a new loan or a quick fix, and the process was more nuanced than I expected.
Here are 8 things I wish I had understood sooner.
1. Debt relief and debt consolidation are not the same thing
A debt consolidation loan uses new borrowed money to pay off existing debts. JG Wentworth’s Debt Relief Program does not involve a new loan, so there is no loan qualification or minimum credit score requirement. Instead, its Negotiation Team works with participating creditors to try to settle enrolled unsecured debts for less than the full amount owed.
2. The program is designed for certain unsecured debts
JG Wentworth’s program is designed for qualifying unsecured debt – debt that is not backed by collateral. This can include qualifying credit card balances and personal loans.
Secured debts, such as mortgages and car loans, are not eligible, and neither are student loans.
3. The monthly payment serves a specific purpose
Clients make one affordable monthly program payment into a dedicated program account.*** As funds accumulate, they are used to pay settlements negotiated with participating creditors.
4. Real savings, with no upfront fees
Average graduated clients realize approximate savings of 44% before the program fee and 18% after the program fee.* There are no upfront fees; clients only owe JG Wentworth a fee after an enrolled debt is settled. Results vary and are not guaranteed.
5. Become debt-free in as little as 24 months**
JG Wentworth programs are between 24 and 60 months in length.**. For those whose minimum payments are largely going toward interest while the principal barely moves, this structured approach can help free up monthly cash flow while addressing the enrolled debt.
6. No minimum credit score is required
Because JG Wentworth’s Debt Relief Program does not involve taking out a new loan, there is no loan qualification or minimum credit score requirement. Participating in debt relief can still negatively affect credit because it changes how enrolled creditors are paid. Before enrolling, I would ask how the program may affect credit and how settled accounts are reported so I could weigh that against my future financial plans.
7. Debt is a financial problem, not a character flaw
Debt can accumulate because of rising living costs, medical bills, reduced income, family needs, or prolonged reliance on credit. Feeling ashamed does not change the numbers and may delay someone from examining their options.
Debt is a math equation, not a moral failure. A practical next step is to get accurate information and choose an approach that fits the situation.
8. Choose a Debt Relief Company You Can Trust
Asking a company to negotiate with creditors is a major decision. JG Wentworth has 35 years of financial services experience and has worked with more than 375,000 customers across its services.
Its debt relief offering has a 4.8-out-of-5 rating based on more than 25,000 Trustpilot reviews. Reviews cannot predict an individual result, but they provide useful experiences to examine while researching.
What I’d do next
Researching debt relief does not commit anyone to enrolling. It lets you compare options: continuing your current repayment approach, seeking a new loan, considering bankruptcy, or exploring a debt resolution program.
For people with at least $20,000 in qualifying unsecured debt, JG Wentworth offers a clear alternative to taking out another loan. Its team can explain the process, provide a free savings estimate, and help determine whether the program may fit a person’s circumstances. The initial consultation comes at no cost, with no obligation to enroll, no upfront fees, and no impact on your credit score from getting prequalified.
Take the first step toward becoming debt-free in as little as 24 months. Get prequalified now with zero impact on your credit score.
*Average graduated clients realize approximate savings of 44% before our program fee and 18% after program fee.
**Programs are between 24 and 60 months in length.
The decision to stop paying your creditors is yours. Consult with your independent financial advisors.
“Debt free” refers only to enrolled unsecured debts resolved through the program. Results vary and are not guaranteed. The customer statement above reflects one individual’s experience; individual results will vary.
Clients who are able to stay with the program and get all their debt settled have realized approximate average savings of 44% of their originally enrolled balance, before our 26% program fee. These savings are based on JGW client data from June 2025 through April 2026, reflect historical results, and are not guaranteed. JGW’s fees are calculated based on a percentage of the debt enrolled in the program. Read and understand the program agreement prior to enrollment.
This is a Debt resolution program provided by JGW Debt Settlement, LLC (“JGW” of “Us”). JGW offers this program in the following states: AL, AK, AZ, AR, CA, CO, FL, ID, IN, KY, LA, MD, MA, MI, MS, MO, MT, NE, NM, NV, NY, NC, OK, PA, PR, SD, TN, TX, UT, VA, DC. If a consumer residing in any other state contacts Us we may connect them with a law firm that provides debt resolution services in their state. JGW is licensed/registered to provide debt resolution services in states where licensing/registration is required.
Debt resolution program results will vary by individual situation. As such, debt resolution services are not appropriate for everyone. Not all debts are eligible for enrollment. Not all individuals who enroll complete our program for various reasons, including their ability to save sufficient funds. Savings resulting from successful negotiations may result in tax consequences, please consult with a tax professional regarding these consequences. The use of the debt settlement services and the failure to make payments to creditors: (1) Will likely adversely affect your creditworthiness (credit rating/credit score) and make it harder to obtain credit; (2) May result in your being subject to collections or being sued by creditors or debt collectors; and (3) May increase the amount of money you owe due to the accrual of fees and interest by creditors or debt collectors. Failure to pay your monthly bills in a timely manner will result in increased balances and will harm your credit rating. Not all creditors will agree to reduce principal balance, and they may pursue collection, including lawsuits.
JG Wentworth does not pay or assume any debts or provide legal advice, financial advice, tax advice, or credit repair services. You should consult with independent professionals for such advice or services. Please consult with a bankruptcy attorney for information on bankruptcy.
