Often asked: Who Will Get The Money From The General Motors Settlement?

How much will I get from the GM lawsuit?

The $120 million settlement, approved in December 2020, encompasses about 100 class actions for economic loss involving millions of recalled vehicles.

How much will I receive from GM ignition switch settlement?

GM has not admitted any wrongdoing surrounding its ignition switch or the other recalls, but agreed to a $121.1 million GM ignition switch economic settlement to resolve the claims against it.

How are class action settlements paid out?

How Is a Class Action Lawsuit Paid Out? If your class action lawsuit is successful, you will receive a portion of the settlement or court award. Plaintiffs are paid by a lump-sum payment or a structured settlement. Smaller payouts are usually dispersed as a single payment.

How long does it take to get a settlement check from class action?

Assuming there are no further appeals, class members generally receive payment about six to nine months after a settlement agreement is submitted to the court for preliminary approval, says Stuart Rossman, director of litigation at the National Consumer Law Center.

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What vehicles are included in the GM ignition switch lawsuit?

“Recall 14v400 Vehicles,” which are 1997-2003 Chevrolet Malibu vehicles, 2000-2005 Chevrolet Impala vehicles, 2000-2005 Chevrolet Monte Carlo vehicles, 2004-2005 Chevrolet Classic vehicles, 1999-2004 Oldsmobile Alero vehicles, 1998-2002 Oldsmobile Intrigue vehicles, 1999-2005 Pontiac Grand Am vehicles, and 2004-2008

What was wrong with the GM ignition switch?

General Motors faced an uproar in 2014 over its handling of a defective ignition switch in some of the cars it manufactured — a problem that led to at least 13 deaths. The faulty switches could inadvertently shut off car engines and airbags during driving. Recalled models included Chevrolet Cobalts and Saturn Ions.

How many people are in the GM ignition switch lawsuit?

(Reuters) – More than 27.5 million people who own or leased GM vehicles whose value allegedly declined after the revelation of a defect in some GM ignition switches received notice earlier this year of a proposed $120 million class action settlement of their economic loss claims.

Can I sue GM for the recall?

If you own a GM car that has been recalled or suffered an injury because a recalled part malfunctioned, you may be eligible to file a lawsuit.

How do you get a settlement check?

After your attorney clears all your liens, legal fees, and applicable case costs, the firm will write you a check for the remaining amount of your settlement. Your attorney will send you the check and forward it to the address he or she has on file for you.

Can you get a lot of money from a class action lawsuit?

If you have a case where 30 to 50 million people are involved and the settlement amount is $10 million, lawyers will take a big chunk. The class action settlement checks mailed might be as little as just $. 25 or a few dollars after what’s left of the settlement has been split up among each class member.

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What happens if you lose a class action lawsuit?

When a class action is lost, the plaintiffs who are members of the class will not receive any compensation for the damages that they experienced. As a result, the members of a class action cannot file their own individual or personal lawsuits if the court finds for the defendant in a class action case.

How do I cash a class action settlement check?

Lawsuit Settlement Check Cashing

  1. Bring your settlement check to a check cashing store, like United Check Cashing.
  2. Provide the teller with your check and a valid photo ID.
  3. You will pay a small processing fee, but then leave with cash in hand.

Do settlement checks come in the mail?

Settlement checks are typically mailed within one month after you submit the release form to the insurance company.

How long after settlement do I get the money?

Your attorney’s fee will be deducted from the injury settlement amount. A final check will be sent to you by your personal injury attorney. It takes about six weeks to receive a settlement check once the release is signed and the insurance company agrees to pay.

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