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FCRAclassaction.com

FCRAclassaction.com

FCRAclassaction.com

Unknown
Columbus, OH 43215
BBB File Opened: 08/06/2003
Business Category
  • Financial Services
Additional Information
  • The following information was posted online at the website http://www.fcraclassaction.com as of August 2003:This website contains information about the settlement of three class action lawsuits under the Fair Credit Reporting Act (FCRA) in federal co...
  • The following information was posted online at the website http://www.fcraclassaction.com as of August 2003:This website contains information about the settlement of three class action lawsuits under the Fair Credit Reporting Act (FCRA) in federal court in the District of South Carolina involving the credit reporting agencies Equifax, Experian and Trans Union. "Each credit reporting agency has agreed to implement a system-wide modification of its procedures. The result will be an unprecedented change that benefits not only the members of the classes but anyone who might have been adversely affected by the problem in the future. This is a major achievement for the classes and for consumers in general. Plaintiffs concluded that, when placed on the scales, the value and importance of this ‘bird in the hand'- namely, correction of the credit reporting problem - was worth more than the speculative possibility a class could eventually recover a sizable damages verdict that might not survive an appeal. Simply put, the choice was between a practical remedy now and a difficult shot at a class-wide monetary recovery later.Plaintiffs were also faced with the inevitable uncertainties of litigation. The theory of these cases was untested, and these class actions were the first ever certified involving the credit reporting industry's ‘Big Three'. There was the possibility that the Plaintiffs could lose the cases on the merits, that they could be decertified as class actions, that the certification decision could ultimately be reversed on appeal, or that a large damages verdict could be lost on appeal. All of these possibilities had to be considered. In the end, the time, effort, and expense (over $1 million per case for the cost of class notice alone) invested could have come to nothing."-From Plaintiffs' Declaration filed March 25, 2003. For complete text, see Documents. --------------------------------------------------------------------------------contact@fcraclassaction.comIf you are a class member and continue to have questions or concerns about the proposed settlementand how it may affect you, you can seek independent legal advice. Please note the following important dates: Settlement Hearing - September 23, 2003The Court has scheduled a Fairness Hearing on September 23, 2003. At the Fairness Hearing, the Court will consider, among other matters, whether the settlement should be granted final approval as fair, adequate, and reasonable, and in the best interests of the Settlement Class. Deadline to Exclude Yourself - September 15, 2003If you are a member of the Settlement Class and you wish to be excluded, you may request exclusion from the Settlement as detailed in the Notice of Class Action and Proposed Settlement. Deadline to File Notice of Intention to Appear - September 15, 2003If you wish to be heard at the fairness hearing in person or through your own attorney, you must file a written notice with the Clerk of the Court following the directions as detailed in the Notice of Class Action and Proposed Settlement. Deadline to Request Free Credit Reports - January 31, 2004Class members are entitled to free credit reports as part of the settlement. To obtain free credit reports, class members must follow the procedure set forth in Part 11 of the Notice of Class Action and Proposed Settlement. The credit bureaus must receive class members' requests by January 31, 2004.For the complete text of the FCRA, go to http://www.ftc.gov/os/statutes/fcra.htm.

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FCRAclassaction.com

This Business Is Not BBB Accredited

FCRAclassaction.com

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