r/povertyfinance • u/Sidelines_Lurker • Jun 23 '23
Some good news for a change, class-action lawsuit settlement check came in! Success/Cheers
So the check from a class-action lawsuit (Sweet vs Cardona) settlement finally came in, seems like "Christmas in June" and just in time for the start of summer too 🎊🥳🎊
For context, I (unknowingly) attended a scam school back in the 2000's/fresh out of high school. Went thru the usual "struggling to find a job" that so many millions of other scam school victims went thru, employers not really recognizing the "degree", bouncing from random job to random job, etc
This came at a good time too, car needs some work and I've been nursing a random toothache on the left-side of mouth
Anyways, it feels good to have some financial cushioning again. Cheers everyone 🙂
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u/NiceUD Jun 23 '23
Nearly 29k?! $2,900 or $290 would be "good" news. This is freakin' amazing, excellent news.
Congrats.
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Jun 23 '23
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u/PNWoutdoors Jun 24 '23
Bruh I make a pretty solid income these days and it would allow me to pay off my student loans and car loan and have some left over. I'd have like $6k cash to put in savings and save $500/mo. That's life changing for the vast majority of people.
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u/MasonP13 Jun 24 '23
Same. That's buy a house and have no stresses for a decade if I stay with what I'm doing now
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Jun 24 '23
$29K is not buy a house and have no stress for a decade money, lol
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u/MasonP13 Jun 24 '23
For me, it'd be enough to pay off all debt, have a decent down payment, and have enough leftover that I can just live on my income while keeping an emergency fund lol
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Jun 24 '23
No, it wouldn’t. Please show your math on this one. I’ll wait.
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u/Sireneyes537 Jun 24 '23
Exactly. A decent down payment on a house is 20% or more. 28k may seem like a lot but it’s really not.
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u/boregon Jun 24 '23
A brief look at that commenter's post history seems to indicate they live in Delaware. According to Redfin, the median house sale price in Delaware is a little over $337k. 20% of $337k is $67,400. Obviously significantly more than $29k.
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Jun 23 '23
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u/Titanium-Dong Jun 23 '23
I fail to see how you came to that conclusion.
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u/Successful_Signal_20 Jun 23 '23
I hope you have a clear path to make great choices! Congrats!
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u/imsaneinthebrain Jun 23 '23
Right. Don’t spend it all and end up in the same spot as you are now OP.
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u/marigoldsandviolets Jun 23 '23
Wow, this is wonderful! Congratulations--that would fix so many problems!
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u/Jobrated Jun 23 '23
Yippee! Do something crazy like go to the movies and buy anything you want at the stand! Enjoy!
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u/SemperSimple Jun 23 '23
$30 popcorn and drinks here I come !! Yeee!!!!
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u/Jobrated Jun 23 '23
What dreams are made of! Also to be able to go out and eat and read the menu from left to right for a change!!!!
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u/rise_agnst Jun 23 '23
The "school" is Devry lol
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u/shrinkingGhost Jun 23 '23
There were a lot of schools in this particular lawsuit. Mine was Le Cordon Bleu.
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Jun 23 '23
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u/shrinkingGhost Jun 23 '23
Yep. They’d guarantee students a certain level of pay after graduation, and said they had career support and would help graduates find jobs. They did not. A 2 year program 10 years ago was $40k. Many of my classmates graduated with a culinary sciences degree and still had to start at busboy or prep cook at min/near-min wage and work their way up to chef. After several lawsuits, the school went under.
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u/rise_agnst Jun 23 '23
My bad, you're right. I went to that hell-hole and it was first thing that popped in my mind.
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u/tgr31 Jun 24 '23
Im sorry, a school named its self "Le Cordon Bleu"....
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u/shrinkingGhost Jun 24 '23
There’s a pretty famous culinary school in Paris with the same name. While this was also a culinary school, I highly doubt it was anywhere near the same standards as the namesake.
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u/Outdoorsy21 Jun 23 '23
My husband is part of that class action but hasn’t been paid yet. Is that your overpayment? Were your loans already paid off? My husband still has loans so I thought it would just be applied to his balance.
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u/Sidelines_Lurker Jun 23 '23
My loans were paid-off years ago, so this is just a refund as far as I know
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u/Itzbubblezduh Jun 23 '23
I’m excited for mine as well…. They said we should see something in January
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u/RunawayHobbit Jun 23 '23
Sorry, can you explain the context here? What was the suit for? Why is the amount so large?
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u/raggedyassadhd Jun 24 '23
It’s a class action against all the fraudulent colleges- you get a refund for whatever you’ve paid and your loans are forgiven / cancelled. It’s for a bunch of specific schools. She’s getting back what she paid.
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u/shrinkingGhost Jun 23 '23
I just got my check this past week as well. They forgave any remaining balance related to the school and then refunded (via check) any payments that had been made.
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u/katatatat11 Jun 23 '23
They have to refund you the amount you’ve paid! I just got my refund last week but since I still have loans I decided to apply it towards them (minus $500 for fun money)
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u/katatatat11 Jun 23 '23
They have to refund you the amount you’ve paid! I just got my refund last week but since I still have loans I decided to apply it towards them (minus $500 for fun money)
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u/fidelcastro33 Jun 23 '23
It's a bit complicated depending on the type of loan he has.
If it was a direct loan through the Dept of Education, he will receive a refund of all payments he has made for the life of the loan. That's the check in OPs pic
Here's very good info: https://www.ppsl.org/sweet-v-cardona-class-members
Also, if it's a direct loan or a federally-backed private loan, all outstanding balances are forgiven and the entire debt will be removed from his credit report. A refund may or may not happen.
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u/PureYouth Jun 23 '23
I got like $2,800 from the makers of a medication that I was on for like 10 years. No idea what it was about, totally random
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Jun 23 '23
Use it to pay down debt and fix up the car you have. Possibly even a down payment on a house. Don’t squander this opportunity by buying dumb stuff!
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u/justloriinky Jun 23 '23
And go to the dentist. Toothaches are awful.
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u/CityofBlueVial Jun 23 '23
Yes and OP if yo uare prone to cavities, ask your dentist for prescription toothpaste, it'll save you even more money (and pain) in the long run if you use it regularly
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u/WellEndowedDragon Jun 24 '23
Last week I went to the dentist for the first time since I was a kid (probably ~15 years ago, I’m in my late 20s now) for a checkup. I was expecting to be riddled with cavities and other issues, but after my exam and deep cleaning, I was shocked to have been told that I only have two very small cavities and that otherwise excellent gum/tooth health.
I apparently have elite teeth genetics because the dentist also said my wisdom teeth grew in perfectly straight. Thinking about it, my teeth have always been pretty straight even though I never wore braces.
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Jun 23 '23
$29k wouldn’t even cover the closing fees on a house. It’s like 10% of a house down payment out here :(
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Jun 23 '23
Where I live 29k is a really good down payment on a house. Especially if it’s your first house.
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Jun 23 '23
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u/RedditPovertyMod Jun 23 '23
Your post has been removed for the following reason(s):
Rule 6: Judging OP or another user.
- Regardless of why someone is in a less-than-ideal financial situation, we are focused on the road forward, not with what has been done in the past.
Please read our subreddit rules. The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, message the moderators.
Do not reach out to a moderator personally, and do not reply to this message as a comment.
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u/jpog07 Jun 23 '23
This time next week "Blew settlement funds on hookers. Need help. "
Kidding. Enjoy the windfall, op!
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u/B0Y0 Jun 24 '23
Just got my $29.30 for the billions Inuit made exploiting a broken tax system they paid politicians to break, so that was fun.
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u/MamaMidgePidge Jun 23 '23
$1600 from Wells Fargo!
I got no warning at all. Just a check in the mail. Almost threw it out as junk mail.
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u/KnittedKnight Jun 24 '23
I went to clc back in the day and they closed, we had a class action lawsuit and I got 8 grand.
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u/ThrowAway848396 Jun 24 '23
I could use $29k right now. I'd clear my credit card debt, clear my student loan debt, and put the rest into savings. 🥲
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u/Tim-in-CA Jun 24 '23
Congrats! Most class action lawsuit settlements are usually just a couple of bucks and a coupon. Good for you.
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u/Tough_Sound6042 Jun 23 '23
spent it wisely and make something of it, then come back and share the drags to riches story. Good luck and congrats
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u/110614085 Jun 23 '23
Damn what was this for I need to sign up, I might get $5 to $10 lol
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u/shrinkingGhost Jun 23 '23
It was for if you attended a scam college or college that significantly misled students on employment or something. The school I went to guaranteed we would make a certain level of pay and that they had career support after graduation, which they did not. The deadline has passed to get in on this suit but they nullified any remaining related student debt and refunded any payments that had been made towards it as part of the settlement.
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u/MrConsistent2215 Jun 23 '23 edited Jun 23 '23
Invest it in companies paying a 6% dividend, then you'll make about $150 month in passive income.
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u/superwhitemexican Jun 23 '23
Tell me more about these 6% dividend companies
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u/FaustusC Jun 23 '23
Right? I thought the current market was around 4-5 at the best performers lol.
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u/Aeronomotron Jun 23 '23
They exist, but you have to consider total return, and risk of capital by investing in individual stocks. Real estate income trusts, buisness development corporations, and certain stocks in the energy sector are know for high dividend yields. Most reccommend not to chase yield, and get diversified, so invest in high yielding single stocks at your own risk. Paying down high intrest debt and bolstering/creating an emergency fund takes precident, so consider that as well.
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u/Absolutionistt Jun 23 '23
Brooo get that tooth pulled and put in a diamond encrusted one...
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Jun 23 '23
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u/dlm Jun 23 '23
OP mentioned that this is loan discharge stemming from Sweet v. Cardona, so the bulk of it should not be federally taxable, but could be locally taxable depending on where they are located.
Regardless, you're right that it would be a very good idea for OP to confirm.
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u/Proper-Chef6918 Jun 23 '23
This is not required to be counted as income for taxes due to the lawsuit
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u/Dry_Ad_2923 Jun 23 '23
Man if I ever get a little$$$ @SNR here I come.. invest in energy be the change for you and your loved ones
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u/chad2bert Jun 23 '23
Get legal advise and check the taxes you may incur..... I learned the wrong way... For a way smaller payout.. Check the tax burden.
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u/oldbaldgrumpy Jun 23 '23
Not to be a downer, but don't forget that is likely taxable income. Prepare accordingly. Congrats on the win!
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Jun 24 '23
Congratulations! That's life changing!
I got $1,400 in a suit against Wells Fargo for illegal foreclosures. It was a pittance compared to what I should have received, but at the time it was a lifesaver.
I'm waiting for one now from a suit against Plushcare. I think it's only going to be about a hundred bucks, but who knows - maybe fewer people participated than were eligible. I did have a terrible time filling out the form to get a check and had to try it many times after contacting a rep, so maybe other people gave up.
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u/Us8qk2nevjsiqjqj Jun 24 '23
Congratulations!! Mine a privately help ffelp loans so no refund for me....(I paid 20k over the life of the loans 😭). At least I get forgiven
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u/dunnmyblunt Jun 24 '23
I’m no financial pro, but consider keeping some in a high yield savings account. I use an AMEX high yield account and it gives a higher interest rate than a regular savings account.
It’s a good place to park medium- to long-term savings like an emergency fund, new home fund, new car fund, etc.
It’ll grow a bit quicker than if you put it in a normal savings account and it won’t require you to know anything about stocks to earn a tiny bit more passive income by doing nothing at all.
Need Wallet was a good resource for me when learning about these sorts of accounts and comparing different banks offerings.
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u/renothecollector Jun 24 '23
You actually got some real money, nice! Usually class action lawsuits are big pay days for lawyers and everyone else gets the equivalent of a subway sandwich.
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u/oldWashcloth Jun 24 '23
There was one for Marlboro a few years back. My parents signed up for it and then forgot about it. Something came up with one of their vehicles or something, I can’t quite remember, and they were freaking out. They needed like $3500. Checked the mail that day and my mom got a check for $1500 and my dad got one for $4000. Really saved their asses.
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u/Ancient-Educator-186 Jun 24 '23
Where's my money? Spent $70k on school and can only get jobs a newborn baby can get... don't go to school kids!
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u/ride_electric_bike Jun 23 '23
The most I ever got was 3 dollars and Huntington Bank wanted 7 to cash it
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u/enjolbear Jun 23 '23
WHAT?! That’s amazing!! I’m so happy for you. Good luck with your new windfall!
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u/Puzzled-Copy7962 Jun 23 '23
Damn! Congrats! I attended a vocational program when I was 18 that ended up being involved in a class action lawsuit for predatory practices, and overstating their stats.
All I got was a $800 check that I never cashed. I ended getting my student loan forgiven because I never cashed the check. But had it been a check for 28k I probably would have…lol
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u/collector_and_fish Jun 23 '23
Congratulations on the windfall. Why dont they put the comma? Maybe in hopes people get confused and dobt chash it?
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u/Dangerous_Effort3355 Jun 23 '23
I waited like 7 years to get about 300 bucks and I was thrilled. I'd be over the moon for this check.
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u/bkgn Jun 23 '23
The lawsuit was only necessary in the first place because Trump/DeVos/Cardona tried to deny relief to defrauded students.
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u/Proper-Chef6918 Jun 23 '23
Yay!! I am aprt of the settlement as well..never made a payment bc I always had income driven repayment and I'm poor so yeaa....nonetheless I am so happy for all those effected and I hope more people who havent applied do so!!
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u/flimspringfield Jun 23 '23
Nice! Most I've gotten was $3k because they violated the law about making us work during our lunch break despite them buying us food.
I just signed up and a year or so later got the check in the mail randomly.
I recently got a $60 yahoo inc class action lawsuit...I don't even know why.
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u/2SexesSeveralGenders Jun 23 '23
I got a letter about one of those for a company that misclassified its employees as contractors. The just over $2K I'm going to get is coming in 3 payments over the next 3 years..... How can the company fuck over it's employees daily and then be able to pay them back all leisurely like over the course of years?
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u/TheSleepyAquarius Jun 24 '23
I googled "Vona S. Robinson" and keep getting results from The US Treasury Dept.
I can't find much information on Vona S. Robinson. But does the US Treasury dept issue class action checks?
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u/LACna Jun 24 '23
For the last 2 years I've been getting regular settlement checks from an old job I had. Apparently they scammed everyone out of wages, OT, breaks, etc and keep getting sued over it.
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u/catsrufd Jun 24 '23
Nice. I’m also a class member but didn’t pay near that much into my federal loans. Private loans, however, would be phenomenal to have refunded.
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u/CockSockpuppet69 Jun 24 '23
I'm part of this lawsuit and am still waiting for my check. What was the time frame between seeing your loans removed from the department of education website and getting your check? I'm expecting about 35k and now I'm getting anxious.
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u/CynicalOne_313 MA Jun 24 '23
That's awesome, OP! Glad to hear you'll be getting some things taken care of. When I've gotten settlement checks, they've only been $5 at most.
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u/Repulsive_Trifle_ Jun 24 '23
Congrats! 🎊 I’m sorry you had to deal with all that bullshit.. Throw some of that into a high yield savings or better yet the S&P500 and ignore it! Cheers!
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u/Cucumber-Original Jun 24 '23
It's very strange to see a physical cheque. Haven't seen one in 25 years.
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u/Emperor_Neuro- Jun 24 '23
I was sadly not aware this was happening and my school is on this list. I hope I'm not fucked.
Keiser fucked me over years ago.
Is it still possible for me to get my loans forgiven?
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u/lilroldy Jun 24 '23
Get your toothache fixed before you car ASAP, that should be your first priority. You don't fuck around with tooth pain, you let an infection go too long and you have a good chance of dieing. My buddies good friend let an abcessed tooth go on for too long and when they finally pulled it he died from the infection being able to spread to his brain
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Jun 25 '23
Congratulations, pay off any debt you have, put the rest in saving, also consider putting a large potion on a high yield interest savings account like Apple Savings card or somewhere else. Don't go on impulsive shopping. Measure between fixed bills and other type of unnecessary expenses. Good luck to you.
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u/kevjohn_forever Jun 24 '23
Da fuqqq?? I got a class action settlement check from the nearly billion dollar Equifax lawsuit recently. They recklessly allowed nearly every American's identify to be stolen and used to destroy their financial lives.
They lost the lawsuit. My check was for $5.
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u/Scary_Preparation_66 Jun 23 '23
Woohoo! That's awesome! I think the most I ever got from a settlement check was $50.