How to Join a Class Action Suit
- Author: Corey Zboncak
- Posted: 2024-08-25
Does the idea of joining a class action suit thrill you? You may well have more than enough justification to get in on one. It's easy enough to be included in this type of suit if you know how to join. The key is to know exactly what your goals are in doing so. Keeping your expectations realistic will help you navigate the way to reach your goal.
Don't Wait to Be Contacted
All potential parties to a class action suit will be notified directly. This can come in the form of an ad in the newspaper, radio, or online. It can also be delivered to potential joiners through the medium of an in-store posting. This occurs when the court approves the case. It also occurs when a preliminary settlement has been reached.
It may be that you have reason to believe that you may be a party to such a suit. However, you have not yet been contacted by the court. If this is the case, you can conduct a search on the web. Certain sites, such as www.consumer-action.org and others, can give you information on ongoing cases as well as upcoming settlements.
If you exercise some diligence, you will very likely come upon a few links to sites that have special bearing on the matter. For example, you may find a site that has been set up in order to give updates on a particular case.
However, not all such sites are completely legitimate. If some of the details seem incorrect or willfully misleading, there may be a scam in play. Your best bet in such a case will be to contact the consumer protection division in your state. This will most likely be found in care of your attorney general’s office.
Be Aware of Your Available Options
In all but a very few cases, you will be automatically included in a class action suit. The only way to avoid this is to specifically let them know that you choose to opt out. If you have not been included for whatever reason, you will need to notify the court that you wish to be.
Once you have joined the suit, you will be eligible to receive compensation. However, as you do so, you will also waive your existing right to file a separate lawsuit. This is an arrangement that protects the rights of all parties concerned. One of the most immediate effects is to guarantee that everyone involved will receive justice.
However, you may be of the opinion that you have been harmed in some way that exceeds the injuries that others in the suit have sustained. Should this be the case, it may not be in your interest to join a class action suit. You may instead wish to consult a lawyer in order to examine all of your currently existing options.
Don't Depend on a Prompt Payout
One of the biggest mistakes that a member of a class action suit can make is to live in expectation of a huge payout that will very shortly arrive. The reality in most cases is far different. It's crucial to realize that there are more than a few opportunities for a settlement to be appealed. This may delay a payout for months, years, or decades.
The court is responsible for receiving, examining, and rendering a judgment on every appeal. You must then wait for the court to render its final approval for settlement. No payout is made until after the last appeal has been exhausted. You can expect to receive payment about six to nine months after the initial settlement agreement.
Whatever the Amount is, Take it
No amount of payoff should be considered beneath your notice. Even if the amount seems nothing but minuscule, take it anyhow. As it turns out, you can deduct it from your taxes. The key to doing so is to donate it to the charity of your choice. This will allow you to at least do a bit of good while scoring a tax break.
A major incentive to making a charitable donation is the fact that, if you don't do it, it may be done for you. The money may go to other parties in the suit who may donate it to the cause of their choice. You may as well keep control of the direction your share of the money will go in.
