Verizon Settlement Payout 2024: Hundreds of thousands of USA Verizon customers could soon get a payout in a big $100 million class-action settlement. The settlement comes after customers claimed the estimates were misleading for administrative fees Verizon charged customers from 2016 to 2023. If you are a current or former Verizon customer, you may be able to receive compensation.
It can be confusing to know if you are eligible for this settlement and if so, how you can claim your portion. In this guide, we’ll explain everything you need to know: who qualifies, how to file a claim and when you’ll see your payment.
Verizon Settlement Payout 2024 Allows Some Verizon Customers to Collect Money Back On Admin Fees Charged. If you think you’re eligible, you’ll have to file to claim it by April 15, 2024. Payouts will run from $15 to $100, so it’s worth spending a few minutes to file your claim.
This settlement should serve as a reminder to consumers to pay close attention to their bills, to question charges and to hold companies accountable to providing transparency.”
What Is the Verizon Settlement About?
The settlement is a result of claims that Verizon did not properly disclose certain administrative fees on its customers’ monthly bills. Though the amount is small, over time the charges added up, and many customers understandably became upset. The plaintiffs say Verizon disguised these fees as taxes or regulatory charges, when they were actually company-imposed fees.
The suit is specifically aimed at Verizon’s postpaid wireless plans, which are monthly contracts available to individual customers. That settlement settles these claims while avoiding any admission of wrongdoing by Verizon.
Verizon Settlement Payout 2024: How Much Can You Expect
As for how much you will get paid, that is based on how long you were a Verizon customer and how much in fees you were charged. Here’s a quick breakdown:
- Minimum Payment: $15 (for each eligible customer who submits a valid claim).
- Additional Compensation: $1 for every month you paid the administrative fee (up to $100 maximum)
- That is to say that if the administrative fee were to be charged for 12 months, you would get back $15 + $12 = $27.
- If you paid the fee for 100 months, you would get the maximum $100 payout.
Why Were Administrative Fees So Controversial?
The administrative fees are common at many wireless providers, but the controversy is around which companies are transparent about the fees and which are not. Customers in Verizon’s case said the fees were buried within billing statements and were not disclosed in advance of signing contracts.
Billing transparency is so important to the customer trust. Cases like this underscore the importance of:
- Reading the fine prints before signing the contracts.
- Checking monthly statements regularly for unusual charges.
- Questioning providers when fees appear misleading.
Why This Settlement Matters
The Verizon Class Action Settlement Payment 2024 serves as a reminder of the need for accountability and transparency when it comes to billing. Hidden fees cost Americans billions each year, and settlements like this one encourage companies to adopt fairer practices. For customers, it’s a lesson in the necessity of:
- Keeping an eye out for billing practices.
- Knowing what they are entitled to as consumers.
- What to do when they believe they’ve been wronged.
- It will also send a message to other businesses to be clear and upfront about their billing practices.
Tips to Avoid Hidden Fees in the Future
While settlements like this one recover costs, it’s best not to be in such situations in the first place. Here’s how to avoid hidden fees in practical ways:
- Ask for Full Disclosure: When enrolling in a plan, ask for a full account of all charges they can expect to pay, including taxes and administrative fees.
- Review Bills Frequently: Check monthly bills closely for unusual charges.
- Select Providers with Honest Pricing for Services: Some companies market plans no hidden charges. Just make sure you do your research before you switch providers.
- Negotiate Charges: If you see any charges that are vague, it is worth calling customer service and asking about them or negotiating the charges off.
Final Thoughts
The Verizon Class Action Settlement Payment 2024 allows customers who are eligible to get back some money they have mistakenly paid for fees they were not aware of. Don’t delay — submit your claim before the deadline and tell other people who may qualify.
Now that you know commonly used strategies and how to use them to your advantage, you will be able to avoid hidden fees going forward. If you have any questions or would like to share your experience, please leave a comment below. Together, let’s advocate for fair and transparent billing practices.