I am curious to know your thoughts on class action lawsuits. Do you take part in them? Have you had any success in doing so?
I personally try to take part in as many as apply to me. The way I see it, the company is either going to reach a settlement or not and if they do, they will be ordered to pay out money to anyone involved and if people don’t claim their money, it just goes to those who did.
I didn’t participate very actively at first but I still did get a couple small ($5 - $10) payouts over the years.
It wasn’t until this past couple of years that I have paid closer attention to them and have been able to receive a few decent payouts thanks to the short time I lived in Illinois (there are quite a few specific to Illinois, so there must be quite a few litigious people there LOL)
The best resource I have found has been https://topclassactions.com/ which posts information on tons of active class actions as well as those that have reached settlements. So while it’s not guaranteed you will be qualified for any, I can say that this site has made me some money as you can see from these two payouts:
Let me know your thoughts on Class Action Lawsuits
I just completed a release to receive funds from the Equifax settlement a day ago. I have no idea how much to expect. I have received some smaller settlements through the years, from companies and for products/services I don’t even recall. The largest one I received was from a mortgage company, which was a few hundred dollars. I get Top Class Action emails as well, but I’ve been a little lazy reading them. An aside…I remember when products frequently had mail-in refunds, and I patiently cut out the forms, completed them, made copies, and kept in a folder?. That was quite a bit of work, sort of like cutting out coupons. Now, I don’t see paper refunds much any more, and when I do see them, they’re mostly online.
I’ve submitted a couple of claims over several years and the payouts have not been worth the time and gathering of supporting documentation, ie old receipts, harm that a product or service has caused me, etc. And I keep receipts for 10 years, way over what IRS recommends, but who can remember what year I purchased Bertolli Olive Oil which is a notice I received 5-6 years ago. However, since seeing the payouts shared by @moore.income I may rethink the next few that land in my mailbox! I think the largest payout I received in the few I’ve tried was $27. The Bertolli nailed me an amount equivelent to a free bottle of olive oil which then was around $7.
Thanks for sharing! I’ve never taken the time for these class action lawsuits because the payouts (for me at least) we so small it wasn’t worth the effort. Now, if I could get $50+, $100+ dollars a pop out them, it’d be a different story.
I figure the pay out is small so I don’t do them. I guess if enough people think that way and don’t do them. The pay will be a bit bigger. I should probably read why and from where to see if I should do it. Most of the time I don’t have receipts anymore or the product.
I have been doing these for years. Every month I fill out some. I receive money out of the blue and you never know how much you’ll get. My highest was $995. I got $600 from AT&T cell phone one. Most of them fall under $10. I just got $35.91 the other day for one I didn’t even remember filling out. Certainly not money to count on. Impossible to track. But sure comes in handy. These are real and viable source of additional income. I only fill out the ones that do not require proof of purchase. The payout is smaller but who saves grocery receipts from 5 years ago for cans of tuna? Things like that is what you’ll find.
I have submitted a few that were relevant to me. The largest amount I received was a little over $50.00. The others were small amounts. I’m in agreement with some of the other commenters, that it’s so time consuming to do for a small amount of money it has become in my opinion not worth my time to do.
I also participate in class action settlements and i also have gotten a payout from Equifax. A whole $5.76. i have gotten a few good. payouts. I believe it is worth checking out here and there. Getting cash your entitled to is always great. No matter the amount.