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How does this work?
Spectrum Settlement Recovery, LLC, the nation’s largest claim
filing and fund recovery service for commercial class-action settlements,
has developed a simplified registration process for the thousands
of small businesses that stand to gain significant money from the
Visa/MasterCard class-action settlement. Once you complete your
registration, Spectrum will perform all the necessary steps to ensure
that you get the money you are legally entitled to—it’s
really that simple!
Who is eligible?
If you accepted credit and/or debit card transactions as
part of a business relationship with Visa or MasterCard at any point
between October 25, 1992, to June 21, 2003, you are eligible for
money from the settlement. However, you must file a claim before
the deadline to receive any settlement money.
Why is there a settlement?
In 2003, Visa and MasterCard agreed to pay out $3.05 billion,
settling a suit1 brought by Wal-Mart and other major
retailers on behalf of all U.S. businesses. The suit alleged that
Visa and MasterCard illegally overcharged merchants for processing
credit and debit cards, and required companies that accepted their
credit cards to also accept their debit cards—an illegal tying
practice prohibited under U.S. antitrust law. As part of the settlement,
Visa and MasterCard are legally required to pay out every dollar
of the $3.05 billion to eligible businesses who file before the
deadline.
1 Wal-Mart Stores, Inc. et al. v. Visa
U.S.A Inc. and Master/Card International, Inc. No. CV-96-5238
What do I have to do to get my settlement money?
With Spectrum, filing your claim is a simple process: First, take
5 minutes to register with Spectrum by
providing basic information about your company. Once you have registered
with us, we will act as your representative for this settlement.
We assume responsibility for completing all claims-filing tasks
so that you can concentrate on your core business. We also manage
communications with credit card processors and other claim-associated
organizations.
What happens after I register with Spectrum?
Once you submit your registration either online, via fax,
or via mail, a Spectrum client services representative will verify
your company’s information, gather and compile the necessary
data, and process your claim.
How much will this cost me? Do I need
to pay now?
Spectrum does not charge any up-front fees, so you don’t
pay anything now. Upon receipt of your settlement, Spectrum retains
a small percentage of your claim as payment for our filing services.
There are NO other costs, fees, or charges. The exact percentage
amount is clearly stated on the registration
form.
Are there any hidden fees or costs?
No. Upon receipt of your settlement, Spectrum retains a
small percentage of your claim as payment for our filing services.
This is the only fee charged to you for our filing services.
Can’t I file on my
own?
Yes, you can. Unfortunately, the Claims Administrator will
estimate your share of the settlement based on incomplete transactional
data provided by Visa and MasterCard. This makes it likely that,
without a complete understanding of the settlement structure on
your part, you will not receive the award that you are entitled
to.
If you decide not to file with Spectrum, that’s absolutely
your prerogative. Just make sure you do file—it’s your
money and you worked hard for it! Unfortunately, our research shows
that less than 10% of small businesses have filed claims in similar
past settlements. For more information about filing on your own,
see www.inrevisacheck-mastermoneyantitrustlitigation.com.
When is the deadline to file?
The deadline for the Visa/MasterCard settlement is November
28, 2005. So that we have sufficient time to process your registration
and claim, we encourage you to file today.
Why register now?
By signing up now, you give Spectrum more time to research
and prepare your claim. For the Visa/MasterCard settlement, we will
be gathering data going back as far as 13 years. In our experience,
more time doing research means more money for our clients.
How come I have never heard of this settlement?
The companies involved with large class-action settlements
turn the claim recovery process over to third-party independent
Claims Administrators. These administrators are not primarily concerned
with raising the awareness of eligible businesses in a timely manner.
You will most likely receive a legal notice from the Administrator
via email, fax, or postal mail near the deadline date, giving you
little time to file your claim.
How come I have never heard of Spectrum Settlement Recovery?
Our company specializes in class-action settlement recoveries.
That is all we do. We’ve grown quickly because we have developed
a proven methodology for streamlining the settlement recovery process
for our clients. With our class action expertise and claims-filing
experience, we are dedicated to helping businesses recover the money
they are legally entitled to.
Last year, Spectrum filed claims totaling more than $50 million
on behalf of clients in the $1.1 billion Microsoft settlement in
California and the Microsoft settlements in 10 other states. We
are helping hundreds of Fortune 1000 companies, as well as small-
and mid-size businesses, schools and non-profit organizations, claim
their full refunds in the Microsoft cases.
How long until I receive my money from this settlement?
The official Claims Administrator, appointed by the court,
controls the actual date of payment. While a date for payment has
not yet been made public for the Visa/MasterCard settlement, it's
been our experience that payment is usually made within months of
filing a complete claim.
As soon as you register with Spectrum,
we will begin the process of filing your claim. Once received by
the Claims Administrator, your claim will be verified. When verification
is complete, your claim will be processed by the Claims Administrator,
and your payment will be mailed. In our experience with class-action
settlements, the sooner your claim is filed, the sooner you will
receive payment. As more specific information is made available
by the Claims Administrator, we will provide updates.
How much I will receive?
Many businesses will receive hundreds, if not thousand
of dollars (or more) from the Visa/MasterCard settlement. The actual
recovery amount is determined by the official Claims Administrator
and is calculated using information provided by Visa and MasterCard,
the number of years that you processed credit and debit cards within
the claim period—from 1992 to 2003—and how much revenue
you generated during those years.
Why should I file with your company?
Spectrum Settlement Recovery has an outstanding reputation
for processing class-action settlements on behalf of our clients.
We have developed a proven process that requires very little client
involvement, enabling our customers to focus on their core business.
To our knowledge, no other company provides the services that Spectrum
does. You can, of course, file on your own (see Can’t
I file on my own?). Also see: How
to Select a Claims Processing Agency
How do I know that this is not a scam?
Spectrum has submitted claims totaling more than $50 million
on behalf of hundreds of businesses ranging from Fortune 1000 companies
to small businesses, from non-profit organizations to schools.
Who are your clients?
Spectrum Settlement Recovery represents both a “who’s
who” of Fortune 1000 companies and small businesses alike.
| Register now in just 5 minutes! |
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If you have further questions, send an email to info@vmcsettlement.com or call (415) 392-5900.
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