Financial Recovery Services Blog

7 vs. 30 Days From Settlement Disbursement

Wednesday, March 4, 2009

It is Financial Recovery Services policy, that the class action settlement refunds we obtain on behalf of our clients, will be delivered to them within thirty days or less from settlement disbursement. We know this is the only way to do business, so that is why we built this into our agreement from the beginning. We call it our "Partnership for Success" philosophy. This means our clients will never have to call and ask for their refunds after it has been disbursed. We appreciate the business, understand that it is the client who has been affected, and therefore deserve this respect and should receive the refund within thirty days of disbursement.

We recently heard a story about a customer being lured by a competitor who was saying, "They will get the refund to the client within seven days of settlement disbursement," after they heard about our thirty day policy. It was a good attempt but unrealistic and anyone in business knows that it is going to take longer than that.

If you have been around the block at least once, we all know when a check is sent regular mail, it takes usually three to five days to get just about anywhere in the United States. Then it needs to be processed by the company who is handling the claim which will take at least one or two more days. Then it gets deposited and needs another few days to clear the bank. That is at least seven to ten business days right there not including the weekend. Then the check is sent out again, usually regular mail, not priority overnight, and received by the customer. In any case this process is going to take at least ten to fifteen business days or approximately three weeks.

The reality is that it takes time to do things right and make sure that all the i's are dotted and the t's are crossed. I am not saying it is impossible to do this in seven days, but all the stars would have to align and in mass it would be an unrealistic expectation. I doubt anyone out there who, as I said earlier, been around the block at least once, would make a decision about which company will handle the refund filing process for their company based upon receiving their refund with seven days of disbursement. Fast usually doesn't mean everything is going to get done right.

Thank you all for working with FRS and we look forward to obtaining your refunds and sending them to you within thirty days or less from settlement disbursement. All our best!