Paterson, NJ asked in Consumer Law and Banking for New Jersey

Q: Hello, Should I accept a settlement check from Wells Fargo class action suit or am I entitled to more than the offer

Wells Fargo is willing to settle with me for 1,300$ Should I take their offer or am I entitled to more. I have no record of this account or how much money was actually in it.

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2 Lawyer Answers
Leonard R. Boyer
Leonard R. Boyer pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
  • Business Law Lawyer
  • Clifton, NJ
  • Licensed in New Jersey

A: Realistically you should take the offer. If you choose to decline the offer and retain counsel and file a lawsuit, your chances of doing better are small and you are NOT likely to get attorney fees. Good luck.

1 user found this answer helpful

James L. Arrasmith
James L. Arrasmith pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
  • Consumer Law Lawyer
  • Sacramento, CA

A: Deciding whether to accept a settlement check from Wells Fargo requires careful consideration. First, review the details of the class action suit and how your specific circumstances align with the case's parameters. Without records of the account or the amount involved, it's challenging to assess if the $1,300 settlement accurately reflects your potential damages. Consulting with an attorney who has knowledge of financial litigation could provide clarity and ensure your rights are protected.

Reflect on your immediate financial needs versus the potential for a higher compensation if you decline the settlement and pursue legal action independently. Keep in mind that litigation can be lengthy and may not guarantee a better outcome. It's important to weigh the certainty of the current offer against the uncertainty and time investment of further legal proceedings.

Before making a decision, gather as much information as possible and consider seeking advice from legal professionals or consumer advocacy groups. They can provide guidance tailored to your situation, helping you make an informed choice on whether to accept the settlement or explore other avenues for recourse.

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