Sign in to follow this  
Anonymous

Providian

Recommended Posts

Just got a letter from providian, telling me how the gave me a 14.00 credit from the class action lawsuit. They are going to credit my account..wow thats gonna help.

Share this post


Link to post
Share on other sites

How would I ever begin to think of the many, many ways to spend it all...hmmm....

Oh! I know! Use it to finance the green card in telling them what assholes they are! :D

HA!

Share this post


Link to post
Share on other sites

Hey...You got more than me...I got $13.01.

Yeah...we just got back from our cruise... :p

peh/pa :D :D :D :D :D :D :D :D

Share this post


Link to post
Share on other sites

That's not even enough for one person to go to the movies these days. ;)

But seriously, do you see how it's to your advantage to NOT go with a class action suit and sue on your own. Plus, I'm sure this took over a year.

Share this post


Link to post
Share on other sites

As those of you who have read my posts know, I am a big advocate of "doing it yourself". However, a bit of perspective is necessary before we trivialize class actions.

Class actions are designed to help consumers where a big defendant cheats lots of people out of small amounts of money. Usually, the amounts are so small that it doesn't make sense for the consumer to sue individually. For the defendant, however, the scheme often results in "big bank". In the Providian case, for example, the entire settlement amounts to $300 million. That's a lot of $13 checks! The settlement also requires Providian to change its sales tactics and lending practices.

Without class actions, there would be very little incentive for some companies to change their deceptive practices.

Share this post


Link to post
Share on other sites

You do have a point there, calawyer. We really do want the industry to change for the overall good. Maybe the thing to do is to do action on your own as well as support class actions???

Share this post


Link to post
Share on other sites

Absolutely. Everyone should look out for number one. But the class action remedy is a major tool to vindicate consumer rights. Newspaper headlines about $10 payments to classmembers and millions in fees for the lawyers are very very misleading. Those lawyers usually plunk down several million dollars to prosecute the case and don't get any of it back unless they win. Classmember recoveries look small on an individual basis but, when viewed as a whole, they are often quite impressive.

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.
Sign in to follow this