Class Action Lawsuit Against Chase Credit Cards

You’ve probably heard of a class action lawsuit. A class action lawsuit is a lawsuit brought by one or many people against a particular entity, corporation, or individual for a common goal. If you have ever been ripped off by a credit card company, you know that a class action lawsuit can be extremely powerful. The court will hear the case and all of the individuals who have signed on to the suit will testify about how their lives were wrecked because the credit card company either refused to give them a credit card or offered a card with outrageous interest rates. In addition, there are chances that settlement could be reached even if the defendant chooses to fight in court.

Class actions have actually proven quite effective when it comes to taking advantage of companies that mismanage credit cards. It’s not very often that credit card companies actually go through a class action lawsuit, but it has happened in the past. This usually happens because the credit card company tried to limit the damages that could be awarded to the class members, often settling for far less than the actual amount owed. There are other cases where individuals sue big time companies over policies that they feel were unfair and the companies settle out of court.

The advantage to a class action lawsuit is that it allows everyone to get their fair share of the money. Also, this process prevents the credit card company from doing anything that would limit the amount of money that they could give out to their customers. It’s a win/win situation for everybody except the credit card companies. Sometimes the companies will settle out of court, but usually they won’t. For this reason you need an attorney who has experience with these types of cases.

In addition to the benefit of getting your fair share, a lawsuit often allows you to take care of the problem. This is usually the problem with credit card companies. They love to charge people more money than they can afford. If you go to the bank and ask them to cut you off your credit, they are going to say no. However, by going to a class action lawsuit you have a way to get the attention of the big guns: The bank.

The reason the credit card companies are so afraid of class action lawsuits is because they are aware that many of them end in favor of the plaintiff. This means that there are many more class action lawsuit plaintiffs than credit cardholders. Therefore, the credit card companies fight these lawsuits tooth and nail. This means that sometimes they lose and sometimes they win. By taking care of the problem in a class action lawsuit you not only get paid, you also get to resolve the problem. You might win the lawsuit, but if you’re up against a corporation with thousands of dollars of capital, you’ll probably walk away with some money.

One other reason that the credit card companies fight these lawsuits is because they know that the general public doesn’t know enough about how their credit cards work. In addition to being completely irresponsible with charging people amounts that they cannot afford, they don’t give them a way to dispute charges. Many times a lawsuit ends with a settlement that is much smaller than the credit card companies want to settle for. Without warning, the credit card companies to increase interest rates, and increase fees and late fees on the cards. They then force their customers to pay those bills with whatever money they have left in their pockets. This is why class action lawsuits against Chase credit cards are so helpful.