Www.ChaseOverdraftSettlement.com – Chase Overdraft Fee Class Action Lawsuit Settlement
You may be eligible to receive some compensation from the Chase Overdraft Fee Class Action Lawsuit Settlement which can be found at www.ChaseOverdraftSettlement.com. The amount of the total funds for this is $110 million. The reason for this is that J.P. Morgan Chase charged those with debit cards overdraft fees based on the posting order of the transactions. Instead of declining the transactions when there was not enough funds to cover it, the bank allowed for the purchase to go through and then charged the fees. In addition Chase also processed the transactions not in the order that they were conducted but in the order of the highest to the lowest. This allowed the bank to charge more overdraft fees. So if you have a consumer deposit account at the bank and you had a Chase debit card from January 1, 2003 to March 29, 2010 and you were charged overdraft fees, you may get a portion of the funds. In addition, in order to quality, you must have had two or more of these fees on a single day. If you do not know what overdraft fees are, these are the fees that the bank charges you if you use your debit card when you do not have enough money to pay for whatever it is you are buying.
If you are not sure if you are included in the class, you can contact the Settlement Administrator. You will be able to get the contact information at the www.ChaseOverdraftSettlement.com site. There is a toll free number that you can call. You can also send an email or if you prefer, you can send a letter. If you find out that you are eligible to take part, there are two ways in which you can get payment. The first is automatic payments. You can get this for all Chase accounts from January 1, 2005 to March 29, 2010. You will also get automatic payments for Chase accounts that were formerly BoNY accounts from April 1, 2007 to March 29, 2010. The automatic payments will be made as account credits (if you still have Chase accounts) or a check if you no longer have Chase accounts. So you do not have to do anything in either of these cases. In the second case all you need to do is make sure that the address that the bank has on file for you is correct. If your address has changed, you will have to contact the settlement administrator.
The second way that you can get payment is to file a claim form. You will have to file a claim form if you had Chase accounts in 2003 and 2004 and the specific period covered is January 1, 2003 to December 31, 2004. You will also have to file a claim form if you had Chase accounts that were BoNY account between October 2, 2006 to March 31, 2007. One type of payment does not preclude the other. This means that you may get automatic payment and you may also file a claim. Now how can this happen. If you had eligible overdraft fees charged in both time periods, then you can do this. If you have to file a claim form, the form can be downloaded from the settlement site. However, you must make sure that the claim form must be postmarked by February 8, 2013. If you decide to submit it online, it must be uploaded by that same date.
After you have submitted your claim form, it will be analyzed. You will be notified if there are errors or if you need to make adjustments. If you do not make the proper corrections that are requested, your claim will be denied and you will get nothing. So this is very important. If you do not wish to be a part of this and you do not want to get any compensation that you have to submit this via regular mail by November 5, 2012. You will have to provide your name, address, phone number and account number. You will also have to state that you want to be excluded. You have to mention that the exclusion is for the Chase Settlement or the In re: Checking Account Overdraft Litigation. The case number is 1:09-MD-2036-JLK. The most important thing is that you must sign your letter or request. Without your signature, it is not valid.
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