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Consumer Class Action Lawsuits
- Nevada Homeowners Sue Bank of America; Seek Class Action Status
- Bank of America Settles Mortgage Fee Case with FTC for $108 Million
- Toyota Allegedly Sought to Discredit Witnesses
- Toyota Financial Services Remains in Toyota Recall Lawsuit
- Toyota Financial Services Credit Rating Cut by Moody's
- Toyota Motor Credit Corp Added to Class Action by Massachusetts Couple
- Toyota Recalls Lexus SUVs for Rollover Concerns; Agrees to Pay Record Fine
- Toyota Motors Fined Over $16 Million
- New Rules Coming for Bank Overdraft Fees
- Don’t Be a Victim of Bank Overdraft Fees
News
- Posted on 3/12/20102000-2003 Toyota Tundra Recall Is Now Nationwide
- Posted on 3/3/2010Toyota Didn’t Properly Investigate Death Involving Acceleration Issue
- Posted on 3/2/2010Medford Man Sues Toyota After Wife Dies in Single-Car Accident
- Posted on 2/26/2010Credit Card Companies Can Still Profit Off Of Unsuspecting Consumers
- Posted on 2/22/2010An Overview of the New Credit Card Regulations
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Consumer Class Action Lawsuits
What is a Class Action Incentive Award?
In any class action lawsuit, there is always a "representative" who acts of behalf of the class.
The class action representative takes on the responsibilities of:
- Performing the role of plaintiff
- Complying with legal requests
- Appearing in court
- Running the risk of sanctions if the verdict turns out badly
Because of this extra responsibility, there is something called an "incentive award", which is compensation for the plaintiff's role in representing the entire class. This extra compensation is never guaranteed, and can only be awarded by a judge.
What are my chances of getting an incentive award? And how much could I receive?
A 2005 study by Theodore Eisenberg and Geoffrey P. Miller at the New York University School of Law found that that the rate of awards in consumer credit actions was 59%. The average total of incentive awards "across all categories" was $128, 803, and the median total award was $18,190. In consumer credit cases alone, the median award was estimated at around $1,000.
Learn more about credit card class action lawsuits by visiting our library.
The attorneys at Phillips & Garcia will fight for your rights in your credit card class action lawsuit. We are committed to protecting your best interests and helping you collect the damages you need and deserve to move on with your life. If you have been treated unfairly by your credit card company, contact Phillips & Garcia today to schedule your FREE legal consultation - (877) 892-5620.
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