Have you heard of the Class Action Lawsuit? Well, if you have not then you are in for a BIG surprise. It is an increasingly popular way of filing lawsuits and receiving compensation. This is done through companies such as Energy Planet, PPL and Enron who are well-known for filing fraudulent claims. In addition to that, they are also well-known for putting out negative public statements in order to “manage” their expenses and bankruptcy claims.

Piping Rock  Class Action Lawsuit

The Class Action Lawsuit method has grown so much in popularity because people no longer want to wait months or years for an actual court case. They would rather be paid in full now and start over. The companies are not concerned with whether or not they can pay their claims. In fact, if they win the class action lawsuit, they will get paid regardless. This leaves all of the plaintiffs at a disadvantage.

The way this works is simple.

One person files a class action lawsuit against a company, insurance carrier, etc. who is responsible for negligence? After the suit is filed, the plaintiff is able to receive a certain amount per victim for their medical and repair costs. After paying the claims, the plaintiff receives a settlement (either a lump sum or a settlement annuity) which they use to pay claims from other parties.

Each person who signs up under the Class Action Lawsuit option must agree to a payment schedule.

Some individuals have been successful at receiving more than 20% of the settlement due to this requirement. However, one should realize that in some instances the companies will require a greater percentage. These types of lawsuits require the filing party to be financially liable for any damages received.

This is a good option if you have a legitimate claim but would prefer not to take it to court.

You do not have the same options as those who choose to go to court. For example, you may be able to negotiate a better settlement outside of court. The claims adjuster can also try to reduce your overall compensation by reducing the scope of your case. If a manufacturer is willing to settle for less, the court will certainly accept their offer.

To sign up for a Class Action Lawsuit, you will need to send a registration form to the Claims Administrator.

When you register, your details are kept confidential and your rights are protected. When you file the claims, you will be assigned a claims adjuster who will monitor the claims process. It is very important that you read over all of your paperwork before signing off on it. Once signed, you are free to start collecting on your settlement. As with most things in life, this is money that is easily available.

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