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Anyone else waiting for a payout for the Debeers Diamond class action lawsuit? I filed a claim when I stumbled across an article about the lawsuit in 2008. I was thinking I could buy a riding lawn mower with my share. Well I since purchased my riding mower in 2009 and paid it off and I'm still waiting for my money from this class action lawsuit. Anyone else had big plans for this money?
It's been settled, you should see a check by the end of summer. However, it's not expected to be much at all. If your purchase was small, you probably won't even be above the threshold for receiving a check.
If your purchase was small, you probably won't even be above the threshold for receiving a check.
What do you consider small? I purchased a loose diamond for an engagement ring for $5,000, originally they had a estimated payout sheet, I was expecting about $2,000, but this was very dependent on the number of claims they received. Lots and lots of claims would equal a lower payout for everyone.
The judge signed on order on May 13, 2013 approving the distribution of checks, but it wasn't filed with the court until May 20th. The checks should be on the way, based on the total number of valid claims of 505,909 and the distribution amount of $107.9 million, the average check should be $195
I would never make a purchase like that based on expected money, ESPECIALLY from a class action lawsuit (where you have no control over the outcome, no control over the amount, and no control over WHEN you MIGHT get any money).
I know you had a post previously about controlling credit card spending and debt. This type of spending is a good example of what to avoid if you want to stay out of debt. Riding mowers aren't cheap, and are not a necessity unless you have a huge yard. Buying one with expected/anticipated claims money is even more of a no-no in terms of good spending habits.
I would never make a purchase like that based on expected money, ESPECIALLY from a class action lawsuit (where you have no control over the outcome, no control over the amount, and no control over WHEN you MIGHT get any money).
I know you had a post previously about controlling credit card spending and debt. This type of spending is a good example of what to avoid if you want to stay out of debt. Riding mowers aren't cheap, and are not a necessity unless you have a huge yard. Buying one with expected/anticipated claims money is even more of a no-no in terms of good spending habits.
Agreed, I wouldn't count this money in my budget, I would just consider it a pleasant surprise if I ever actually did receive it.
Riding mowers aren't cheap, and are not a necessity unless you have a huge yard. Buying one with expected/anticipated claims money is even more of a no-no in terms of good spending habits.
I do have a big yard, and needed it. I used it to plow my 175 foot long driveway for 6 snowstorms, use it to mow the grass and move heavy items around the yard. As I stated, I financed it and long since paid it off, so your point is irrelevant. It's not like I brought the tractor and was waiting on this money to pay the bill. I just got my check today, $188, a far cry from what i was originally expecting.
if the result of this lawsuit truly had no bearing on your decision to purchase the riding lawnmower, then yes my point is irrelevant. But if that is really the case, I have to ask why you mentioned the riding lawn mower purchase at all?
FYI. Received a check in the mail yesterday June 10. It was a large amount a little over 1000.00. I also had moved and notified the trustee of my new address 6 months ago. Not really expected much and was pleasantly surprised. They did ask me for documentation a while ago on my purchase which I did supply. My original purchase was approx. 6000.00. Years ago when I had money to spend. Hope that helps you.
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