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I received my FUSA(First USA) statement today and have a credit of 38 cents from the class action lawsuit. What a joke!
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I received my FUSA(First USA) statement today and have a credit of 38 cents from the class action lawsuit. What a joke!

I got my 43 cents last month.

I really wonder how many people FUSA has ripped-off for $29 late fees.

I'd bet my 43 cents that they have scammed millions on bogus late fees.

Bret

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it really is amazing. the only people that win in these class action lawsuits are the attorneys that file them. i read an article recently (don't remember where) that said most of them get paid million for just a couple of hours of work. after they get their 10% or what ever their split is, the rest of us are left with a fraction of a few million bucks which usually equates to a few cents. kind of sad really.

jmho,

e-
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i read an article recently (don't remember where) that said most of them get paid million for just a couple of hours of work

Well, when you remember where, cancel your subscripton. Any publication that prints such nonsense is not worth your time or money.
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I read the rules before joining the lawsuit and knew what my compensation would be. My husband suggested we just let it slide. However, I was not about to let FUSA slide. I wanted them to spend time, money, personnel, etc. to get me my few cents. Vindictive much?
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>
> Well, when you remember where, cancel your subscripton. Any publication
> that prints such nonsense is not worth your time or money.
>

I'm so glad someone posted that. Doubly glad it was a VFR pilot, too!

These stories get passed around and puffed-up just a little here and there every so often. By the time it gets back here again, the lawyers will be getting a skillion dollars for only twenty minutes of work and the poor, downtrodden customers will be getting less than a dime.

-MH-
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so who benefits then? i'm not trying to be a smart alec, but i mean who wins in one of these? the company being sued certainly doesn't. the consumer gets pennies. just seems to me like the only winners are the attorneys involved. i'm not trying to attack attorneys, but it seems like they are the only ones that get anything out of the deal. if anything i would think the consumer ends up taking it again in higher fees/price, etc. am i wrong here? please explain.

e-
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Who wins depends, as it always does, on the merits of the case. If it is a losing claim, then the companies should -- and do -- fight and win. If it is a great claim, then the plaintiffs' classs action lawyers should -- and do -- fight and win -- for both themselves and the class. If it is a middling claim, then both sides have to consider the risks and will most likely come to a settlement. If there is a settlement, most of the money will go to the class -- i.e., consumers. The lawyers will get what the court gives them, after taking into account the objections, if any, of the class members. I can assure you that courts also take into account the actual time spent litigating when awarding fees, AND I'll bet you your year's salary that no court has ever approved a million-dollar plus fee for two hours work in a consumer class action case.

As for your thought that the consumer is hurt bacuse of higher fees, etc., consider this:

If there were no class action procedures, then companies could essentially break any consumer protection laws or breach contracts with consumers with impunity so long as they didn't steal more than $25 or so from each person. And, if they could do so with impunity, more would -- it would be the right business decision. Class action lawsuits raise the ante with companies, thereby discouraging unlawful behavior.

Does this mean there are no abuses? No. Is the system perfect? No. But is First USA gonna have more consumer-friendly policies on the issue that led to the settlement? Yes. Would they have otherwise? What do you think?
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Did you see the movie "Class Action" (I think that's the title - it starred John Travolta)? While I'm not a lawyer, don't know any lawyers in their lawyerly role, have never consulted a lawyer, etc .. the movie seemed to be a fairly accurate look into the class action lawsuit industry. A certain amount of schlosckterism, a certain amount of serving the highest good, and a certain amount of risk.

In any case .. when I read through the stuff from the FUSA class action it just didn't seem to be worth while. A couple cents here and there and I'd have to go through a whole buncha trouble to document everything. C'mon, gimme a break.

The Providian settlement was well handled. I didn't even know about the suit, and suddenly a check arrived for $1200. Yeehaw!! ;-) That was a real payback to me for the real expense I had with Providian. I had a similar level of expense with First USA but have yet to see anything for it other than this complicated letter they sent a few months ago.

- David
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I received my FUSA(First USA) statement today and have a credit of 38 cents from the class action lawsuit. What a joke!

lol. I understand!

I think I got 76 cents from the lawsuit. But I got an actual check since I paid them off last year. :)

Cassandra
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JMHO WROTE:

it really is amazing. the only people that win in these class action lawsuits are the attorneys that file them. i read an article recently (don't remember where) that said most of them get paid million for just a couple of hours of work. after they get their 10% or what ever their split is, the rest of us are left with a fraction of a few million bucks which usually equates to a few cents. kind of sad really.

I RESPOND:

10%? Try ONE THIRD--that is the standard cut. NEver too late to go to law school at night!

Jospeh
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so who benefits then? i'm not trying to be a smart alec, but i mean who wins in one of these?


I RESPPOND:

I think the consumer might benifits in two major ways here.

1) The publicity generated by the case will wake *some* (read "a few") consumers up to the true nature of the CC inudstry in America.

2) The CC companies MIGHT think twice before pulling the same shenanigans again!

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and have a credit of 38 cents from the class action lawsuit. What a joke!

Well, if we take the optimistic approach, and apply the rule of 72 and then equate that someone receiving this 38 cents was 20 years old, at a gain of 9% a year, that 38 cents would double 5 times by the age of 60.. This would now become approximatly $12.16 ..

In forty years from now.. that might buy half a gallon of gas at anyway.. (grin)

-Rob
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ME TOO!! LOL!
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