Credit Karma Settlement Payout Per Person – Claim Form, Deadline, Payment Date 

The credit karma settlement payout per person simply means the amount received by the people. That depends on how many people file claims. According to the FTC, the deadline to claim settlement is March 04, 2024. 

Credit Karma Settlement Payout Per Person

Number of total people estimated regarding eligibility were to file claims that would result in payment of around $6 each. The people who are gaining offers in the form of pre-approved from credit karma, as per the Federal Trade Commission. 

Credit Karma Settlement Payout Person Eligibility Criteria 

  • Customers who receive a pre-approved or high odds of approval offer from credit karma between December to October. The Exact date will be updated soon on their website “www.ftc.gov”.
  • Users who were subsequently denied after applying for the credit card with one of these offers. 

Credit Karma Settlement Amount Release Date 

The settlement payment is likely to be released within three months after the deadline of form submission. 

Credit Karma Settlement Payout Per Person

Due to releasing before three months users easily get the idea of what documents are required for getting their settlement payment. 

That means the payout will take place by the end of May 2024 or even earlier. 

Document required for applying Credit Karma Settlement Payout 

  • Residence Proof 
  • ID Proof 
  • Passport Size Photo 

How to claim credit Karma Settlement Payout Online 

To claim your credit karma settlement through online mode applicants need to follow various steps which are given below – 

  • First visit to the official website of FTC credit karma settlement at www.ftc.gov/enforcement/refunds/credit-karma-settlement. 
  • Then select the button of “File a Claim”. 
  • After that you went to the online claims portal. 
  • After that login or register into your FTC account. Here you develop a new account if you have not used the FTC website before. 
  • Then you need to answer the eligibility questions. These questions will assist in determining if you meet the criteria to file the claim. 
  • In the next step you are required to upload your supporting documents. 
  • At the time of uploading papers must make sure that documents are scanned and saved in a format accepted by the portal (like JPG, PDF, and PNG). 
  • Review your claim carefully. At that time must ensure that all data is accurate and complete before final submission. 
  • Finally, submit the claim. Once the claim is submitted you will receive a confirmation email with a claim ID. 

Credit Karma Settlement Payout Person Claim Deadline 

The last date of credit karma settlement claim is 4th March 2024 which means today. It is typical to submit your claim before this date to be considered for the share settlement.

Remember those whose claims are received after today will not be accepted. 

The fund settlement will be distributed between all eligible claimants. That means individual dependent payouts may vary based on the number of claims filed. 

The FTC will review all the claims and after that they may contact you if they require additional data. 

Credit Karma Settlement Payout Amount 

The overall settlement amount for the credit Karma is $3 million. However, it is significant to understand that this fund will be divided among all eligible claimants who file the claim till today or before the last date. 

  • Entire number of claims filed – The huge claim submitted, the smaller the individual payout will be as $3 million is divided among eligible claimants. 
  • Nature of single claims – While the accurate criteria have not been publicly disclosed the FTC considers factors such as number of pre-approved offers gained, the specific credit cards applied for, and the documented effect of the denial on the individual’s credit score. 

Ways to Distribute Credit Karma Settlement 

  • Verification of Claim – First FTC will verify the legitimacy of all already submitted claims. 
  • Categorization of Claims – Depending on some factors FTC may categorise claims into various groups reflecting their perceived strength. 
  • Every eligible claimant in the category will achieve a portion of the allocated money for that category, potentially adjusted depending on single claim specifics in the category. 

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