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Started By
Message
2012 won $5K a week for life, now he's losing everything including his home
Posted on 9/6/25 at 12:26 pm
Posted on 9/6/25 at 12:26 pm
Publishers Clearing House winners aren't getting paid
quote:
John Wyllie, a 61-year-old Oregon man who won $5,000 a week for life from the PCH Prize Patrol in 2012.
According to NBC affiliate KGW8 [1], Wyllie received an annual check for $260,000 every January. The money let him retire and buy a house on six acres in scenic Bellingham, Washington. But this year, the checks suddenly stopped. A few months later, Wyllie learned why: PCH had filed for bankruptcy without warning him or other winners.
Wyllie told KGW8 the turn of events “feels like a nightmare,” made worse by the fact that he hasn’t worked in more than a decade and can’t find a job now. With bills piling up, he’s sold off big-ticket items like a jet ski and trailer, but still expects to lose his home.
44
Posted on 9/6/25 at 12:28 pm to TigerintheNO
On one hand I feel bad for him because he was counting on the money.
On the other, give me $260k every January for 12 years and I'll be in very good financial shape when the 13th check doesn't arrive.
On the other, give me $260k every January for 12 years and I'll be in very good financial shape when the 13th check doesn't arrive.
Posted on 9/6/25 at 12:30 pm to TigerintheNO
Gotta have a contingency for this shite
Posted on 9/6/25 at 12:30 pm to TigerintheNO
Yeah maybe should’ve made some investments during that time?
Posted on 9/6/25 at 12:31 pm to TigerintheNO
quote:
In 2019, Ricky Williams won the same $5,000-a-week-for-life prize as Wyllie but took the lump sum. He walked away with $3 million — all collected before PCH went bankrupt.
Poor baw thought he was doing the long-term financially responsible thing buy collecting an annual check instead of the lump sum payment.
Posted on 9/6/25 at 12:31 pm to TigerintheNO
He needs to get his wife to talk to the manager over there.
Posted on 9/6/25 at 12:31 pm to TigerintheNO
quote:This news is going to have repercussions to several no account folks I’ve had the “pleasure” to have know over the years.
A few months later, Wyllie learned why: PCH had filed for bankruptcy without warning him or other winners.
They were counting on PCH revenue to financially set them up.
Posted on 9/6/25 at 12:33 pm to shutterspeed
I thought almost everyone says to to take the lump sum for this exact reason (lottery jackpots, any sweepstakes prizes from companies, etc.)
- you never know how long your own life will be, could die in a car wreck tomorrow. so taking lump sum guarantees money for your dependents
- you can invest the money yourself to still set yourself up for your own annuity off the interest
- you protect yourself from a company going bankrupt or just deciding to stop payment
- you never know how long your own life will be, could die in a car wreck tomorrow. so taking lump sum guarantees money for your dependents
- you can invest the money yourself to still set yourself up for your own annuity off the interest
- you protect yourself from a company going bankrupt or just deciding to stop payment
This post was edited on 9/6/25 at 12:35 pm
Posted on 9/6/25 at 12:35 pm to soccerfüt
quote:
This news is going to have repercussions to several no account folks I’ve had the “pleasure” to have know over the years.
The article says it affects 10 people
Posted on 9/6/25 at 12:37 pm to TigerintheNO
I always assumed PCH had some annuity set up that provided the yearly payments for this. So either they were just funding yearly checks or else they were using trusts / annuity but they raided them. Interesting.
Posted on 9/6/25 at 12:40 pm to TigerintheNO
He had a nice ten year run. Now get off your arse and get a job.
Posted on 9/6/25 at 12:41 pm to jbgleason
Gotta take the lump sum
Posted on 9/6/25 at 12:45 pm to TigerintheNO
quote:
Wyllie told KGW8 the turn of events “feels like a nightmare,”
This guy's financial acumen is the real nightmare
Posted on 9/6/25 at 12:53 pm to Proximo
quote:
Yeah maybe should’ve made some investments during that time?
Are you suggesting Jet Skis and trailers are not sound investments? I need to rethink my retirement strategies
Posted on 9/6/25 at 12:59 pm to The Boat
quote:
This guy's financial acumen is the real nightmare
To be fair... sounds like he was living within the means set up for him with his PCH winnings.
quote:
Publishers Clearing House (PCH) was founded in 1953 and filed for Chapter 11 bankruptcy in April 2025, a run of 72 years.
That's a long enough run I wouldn't blame a man for considering it guaranteed income. It certainly wasn't a short time scheme.
People make investments to ensure an income stream... his income stream was already assured.
Posted on 9/6/25 at 1:00 pm to TigerintheNO
They would have all been better off taking the lump sum. Upgrade your lifestyle, but don’t go absolutely crazy and they would have had more in the long run.
Posted on 9/6/25 at 1:04 pm to TigerintheNO
People are really stupid.
Posted on 9/6/25 at 1:10 pm to TigerintheNO
The PCH deal always sounded too good to be true
Posted on 9/6/25 at 1:14 pm to Demonbengal
quote:
They would have all been better off taking the lump sum. Upgrade your lifestyle, but don’t go absolutely crazy and they would have had more in the long run.
You have no idea how lottery winners/lawsuit winners think and act.
Maybe you’re a rational person and you think rationally, but not everyone does.
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