Chase heloc settlement

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Only Former Customer Subclass Members who have incurred damages as a result of their HELOC suspension can receive a cash payment and it's only $35!. I remember other banks being bigger $ amounts?

http://www.chasehelocsettlement.com/

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I got the same notice, and am wondering the same thing. $35 sure does not seem like much for canceling a HELOC that they charged me to open. I believe the cost was about $300 and it was cancelled in about a year. I think I may decline to join the settlement just to make a $35 point.....

gfdgfdgfdgfdgf said:   I got the same notice, and am wondering the same thing. $35 sure does not seem like much for canceling a HELOC that they charged me to open. I believe the cost was about $300 and it was cancelled in about a year. I think I may decline to join the settlement just to make a $35 point.....


I would decline , but anyone know any "better" class action lawyers ??

Lets get real here .the only peaple gona benifit from this is the lawyers they orchestrated this whole deal I'd be surprised if they didn't generate all this worthless paper work too! Can only hope the court has the decency to see through the lawyers bullish greed . $35. -just another stab in the back of tax payers.

Lets get real here .the only peaple gona benifit from this is the lawyers they orchestrated this whole deal I'd be surprised if they didn't generate all this worthless paper work too! Can only hope the court has the decency to see through the lawyers bullish greed . $35. -just another stab in the back of tax payers.

I don't accuse or blame the lawyers filing the class action lawsuit because I am aware of the amount of money, time, effort and risks that are inherently associated with filing law suits. By this I mean, filing the complaint itself is the least expensive, but from thereon after, the legal fees begin to accumulate. I have the personal experience of funding a lawsuit years ago against a few defendants including insurance companies and their lawyers. The expenses associated with getting ready to file the law suit were in the teens (thousands that is) but In the first few months after filing the complaint, the expenses rocketed into four times as much because of paying the attorneys' legal fees, the costs for taking depositions including court reporters, etc., etc. But I also do not believe is a fair compensation to receive $35 for a loan that I paid $300 just to get it, plus interests of course (but remember this amount is only for the Former SubClass Members) No. I am not going to join the class and will file for an exclusion. But before then, I will see what is it that the settlement brings in terms of "benefits" to the "CLASS members".

Thanks for your input, that is quite helpful and puts things into perspective. Right now I am just trying to decide if I want to "object", or if I should just decline to be in the class action. While I suspect my objection will be "noted" and nothing more, I also do not know of anyone else entertaining such a lawsuit that would do any better than $35.

yeah really....they couldn't at least fork out $100 per person???? this sucks!

I just sent off my settlement objection today. They require snail mail to four different offices. If you are OK with the $35 settlement, you can request it online. A pain to object, but I figure it is worth the trouble just to make them read it and deal with it. I used to have a Chase mortgage, HELOC and credit card. Now I have nada with Chase and everything with Credit Unions. I may be FatWallet at heart, but some principles are worth paying for. If I get a reply I will post. Not holding my breath.....

I am new to this site and would love your advise. I have a HELOC with Chase that is $175k and a 1st with Wells Fargo for $415k I am currently 7 months behind with Wells and have been denied for a loan mod but my husband just started a new job so hoping to reapply at the end of Feb after first paycheck. I was denied for a loan modification with Chase in Sept and stopped making payments on my 2nd. Currently 119 days behind with them. I submitted a settlement offer of $5000 which I was going to borrow the money from my parents. I know it's total wishful thinking but I had read on some other blogs of people settling for under 10% I just got a phone call from them and they basically laughed in my face and said they would not even turn it in to the settlement dept unless 20-15%. Does anyone have any advise. On where to go from here. We are trying so hard to keep our home.

DOES ANYBODY KNOW WHAT THE RESULTS OF THE MARCH 8TH HEARING REGARDING THE CHASE HELOC SETTLEMENT?



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