What Does a Class Action Lawsuit Entail?
As you might already know, there is a new Net Presentation of Portfolio Recovery Class Action Lawsuit and it is called the “NPL” or “Net Presentation”. What this means is that this class action lawsuit is not filed against an individual company but instead is filed against a collection agency. You will need to understand that when you sign up for any of these NPLs that you are signing away any rights you might have in the future regarding a future claim against the company you represent. If you are going to pursue a NPL you must first obtain a release form from the NPL Company and then file the complaint with the court.
Portfolio Recovery Class Action Lawsuit
There is one very important issue that you must be very clear on when filing a “portfolio recovery class action” lawsuit. NPLs are not based on any type of contract or agreement between the parties, they are simply bank charges that are filed against an account holder. These bank charges were not incurred by the business that was represented; rather, they were charged against the account holder as the result of a fraudulent activity. If you choose to file a NPL lawsuit based upon one of these bank charges and that claim ultimately winds up in court, you will be on your own path to recovering all of the money that was illegally charged against you.
It is extremely important that you understand this fact when filing a “portfolio recovery class action” lawsuit.
Your chances of success dramatically decrease if you do not fully understand what is involved in such cases. The reason why is because most “portfolio recovery” cases end up being settled out of court. Essentially, the bank that has been charging you for these account charges then agrees to reduce those charges in order to settle the case. Very seldom does the bank actually come forward and admit to charging your accounts.
As you can imagine, not every bank will agree to settle out of court. In most cases, the bank simply does not want to have to go through the expense and time of going to trial. What most people do not realize is that once a lawsuit has been filed in Federal Court or state court, it is very important that you take aggressive legal steps to recover your losses. You must aggressively pursue your claim in order to fully recover your losses.
There are two basic reasons why you should consider filing a portfolio recovery class action lawsuit.
First, you want to ask the bank to admit to the wrongdoing. Second, you want to be compensated for the damages that you have suffered as a result of the bank’s conduct. In either case, you must seek an attorney who has experience in handling such lawsuits.
In addition to an attorney, you will also need a claims processor. This is a person who works closely with you throughout the claims process. The claims processor will gather documents and organize them in a way that makes it easy for you to read and understand what you are being told. This legal advisor is also a key witness in your case.
When you go to court, your claims processor will be there to stand by you and tell all of the details about your case.
In addition to sitting in front of you during the trial, he or she will also be responsible for keeping up to date on everything. The claims processor will prepare all of the paperwork and other necessary documents for your portfolio recovery case. At the same time, he or she will be keeping track of all correspondence from your attorneys. The claims processor will help you arrange a meeting with your attorneys and show them all of the correspondence that they have received.
The claims processor can also be called upon by your attorneys to testify at depositions.
He or she will then provide further testimony at trial. He or she is also expected to testify at any other proceedings related to your case. Finally, the claims processor will be responsible for tracking any payments that have been made out of your settlement money. These payments will need to be made before the date set by the court. If any of these payments are missed, your attorney will be able to file a motion to reinstate the judgment.