Judge: Douglas W. Stern, Case: 23STCP04178, Date: 2023-12-29 Tentative Ruling

Case Number: 23STCP04178    Hearing Date: December 29, 2023    Dept: 68

Petition for Approval for Transfer of Payment Rights

Petition for Approval for Transfer of Payment Rights

            Petitioner J.G. Wentworth Originations, LLC, (Petitioner) and Payee David Olguin, who is 26 years old and singled, have entered into an agreement for Payee to exchange his rights to periodic structured settlement payments for $36,000. The terms of the settlement provided for structured payments to be made to Payee for 88 months at $400.00 a month, beginning on January 12, 2024, and ending on April 12, 2031, plus 1 lumpsum of $12,000.00 due on May 12, 2027, and 1 payment of $15,000.00 due on May 12, 2032. This would have totaled $62,200.00, with a present value of $47,933.40.

            The Petition and accompanying moving papers submitted by Petitioner comply with the requirements of Cal. Insurance Code §§ 10134-10139.5. The Petition includes the required information and is accompanied by a Declaration from the Payee. Petitioner has also submitted the Disclosure Notice, which complies with the requirements of Insurance Code § 10136(b), and the Purchase Contract, which complies with the requirements of Insurance Code §§ 10136(c) and 10138.

            The Court approves the Petition for Transfer of Payment Rights.

ORDER

1.      Petitioner’s Petition for Approval for Transfer of Payment Rights is GRANTED.