Efficient disbursement in large class action cases
In cases involving disbursements to tens of thousands of people, clients know they can count on us for cost-efficient, accurate support. Our highly secure, controlled disbursement and fund management system ensures that the right people receive the right amount, every time. From single, automated disbursements to recurring disbursements, our in-house team of accounting and tax professionals has the resources and proven expertise to meet the exact requirements and timing of your settlement plan.
We securely and efficiently handle your funds, utilizing our managed disbursement services and proprietary disbursement software. Ours is a proactive approach to controlling the entire process, including acting as escrow agent, investing settlement funds in secure approved investments, managing cash flow and analyzing and reconciling bank accounts, all under the strictest quality control.
Safeguarding your assets and personal data
Securing your assets and personal information is a critical priority. We operate under the industry’s most rigorous security standards, with regular account audits. In fact, our standards exceed those of the banking and federal government sectors. We are audited under SSAE 16 standards and currently manage funds and payments for the federal government. Our checks are printed on-site with secure paper stock and MICR encoding.
Helping you meet tax requirements
Adhering to tax filing requirements can be an elaborate process for a Qualified Settlement Fund. We provide a wide range of services to help you meet those requirements, including TIN matching, federal and state income tax return preparation, advising and reporting on class member awards, and filing all tax returns, with required payments. Acting as an intermediary between you and the IRS, we respond to all IRS communications and coordinate directly with them, as necessary.
Which payment options make the most sense for your settlement?
Today’s marketplace offers a variety of payment options, each with distinct pros and cons. The cheapest and easiest of all the options are direct deposits or account credits, but these options are often not available. Checks are historically the most popular way to pay claimants, but they are also one of the most expensive methods with up to .46 cents added to the cost of each check just for postage. Digital checks and payment processors like Paypal and Venmo eliminate the cost of postage, but to the extent that class members are not familiar with the payment method, savings on postage could be reduced by additional class member support costs like phone calls and emails. Pre-paid cards can be effective but are often more expensive and could have other limitations, like card expiration dates. Other factors that will impact your decision include the underlying issue the payment is remediating, age of the class members, volume of payments and payment size. Courts are also increasingly focused on negotiation rates in terms of any cy pres provision, attorney fee arrangements and supplemental distribution, so payment decisions have a far reaching impact. We work through all of these factors with our clients and then design an integrated claims process to allow one or multiple payment methods to be selected.