Looking to sue Charles Schwab? Small claims court is an option, and you may have others…
At FairShake we’ve helped thousands of people ripped off by big companies like Charles Schwab. And we’ve helped get millions of dollars in settlement offers…
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Tired of hitting dead ends when trying to get a refund from Charles Schwab? Feeling like there’s nowhere to turn?
You’re not alone. It seems like many people have tried all the Charles Schwab customer service options, but still feel unheard.
There are different ways to file a complaint against Charles Schwab, but none have the same power and leverage as taking legal action.
So, if you’re thinking of suing Charles Schwab, where do you even start? You might expect there to be tons of class action lawsuits against them, but it’s often more complicated than that.
What many people don’t know is that hidden clauses buried deep within their contracts frequently allow companies like Charles Schwab to push legal claims into the private realm of consumer arbitration, away from conventional courts.
But here’s the thing: your Charles Schwab contract doesn’t have the power to take away your right to pursue legal action by suing them.
Here’s what you can do…
To find out if you can take Charles Schwab to arbitration, you can check your contract or user agreement with them. Many companies’ standard contract are available on their websites. You can do a search for “arbitration” arbitration within the contract text — it is usually mentioned near the very top of a contract.
Learn more about the consumer arbitration process here.
Taking Charles Schwab to Small Claims Court will typically involve appearing in person and completing necessary forms.
If you’re ready to sue Charles Schwab in Small Claims Court, read on below:
Are you ready to sue Charles Schwab in small claims court? Small claims courts are only for certain types of claims. The first step is to ensure your claim qualifies for small claims court. There are two things you need to learn:
Every small claims court sets a maximum dollar amount for the claim you can bring. In most states, it’s either $5000 or $10,000, but it can be as low as $2,500 (in Kentucky and Rhode Island). You can find a list of all 50 states’ monetary limits here.If your claim doesn’t fall within the limits of your state’s small claims court, you’ll have to arbitrate your claim instead.
Most small claims
courts require you to ask the person or the company to fix your problem voluntarily before you file a claim. If you want to sue Charles Schwab in small claims court, you need to send a demand letter.
A demand letter should be simple and straightforward. Tell Charles Schwab who you are (your name, address, phone number and account number), what the problem is, and what you want from the company. The whole letter should consist of just a few sentences. Remember you are checking a box on your to do list, before you file the actual claim.
When you’re done writing the demand letter, you need to mail a hard copy of the letter, preferably as certified mail, to the company’s legal department.
According to our most recent research, Charles Schwab is legally based in Delaware and receives mail at this address. (Check your contract to confirm if this is the right address for legal notices):
CHARLES SCHWAB & CO., INC.
C/O THE CORPORATION TRUST COMPANY
CORPORATION TRUST CENTER 1209 ORANGE ST
WILMINGTON, DE 19801
If you would like examples of demand letters or more information about how to write them, you can find an excellent guide here.
In order to sue
Charles Schwab in small claims court, you need to fill out some paperwork.
Each state has a set of forms that need to be filled out to file a claim, and sometimes counties will ask for additional forms. The correct forms for your location is available for free on your state court website.
Make sure you fill out enough forms. Most states that require you to file forms by mail or in-person ask for 3 or 4 copies. If you don’t have the right number of copies, the court clerk will not accept your claim.
When you’re done filling out the court forms, it’s time to give those forms to the court. This process, which is called “filing,” can be difficult to navigate.
Many courts 
require plaintiffs to come to the courthouse during certain times of the day to deliver the forms to the clerk. Other courts might allow you to file by fax, mail or online (This is the least used method).
All courts require plaintiffs to pay a filing fee before they allow your to sue Charles Schwab in small claims court. The fee, which is published on the court website, is sometimes waived for low income plaintiffs.
When you submit your forms, the court clerk provides you with a stamped copy of the forms and a court date. Keep all information organized and stored safely until the day arrives when you attend the hearing.
If you’ve made
it this far, good work! Suing Charles Schwab in small claims is a long and difficult process.
Now that you’ve filed the papers required to start your case against Charles Schwab, you need to tell Charles Schwab about the lawsuit. This is a called “serving” Charles Schwab. To do this, you need to deliver a copy of your filed papers to Charles Schwab.
Look at your court’s website for instructions on how to properly deliver your forms to Charles Schwab, or search for “[your state] small claims service of process”. Courts have many strange rules about how to serve a defendant. Make sure you follow the rules closely to avoid having your claim dismissed.
When the court
clerk gives you a court date, make sure to put it on your calendar. You need to know the location of the courthouse where the hearing takes places. Bring copies of your filed forms, and any other evidence that backs up your case against Charles Schwab. Sometimes, Charles Schwab will not show up to oppose a plaintiff. If that happens to you, take advantage of the situation to present your side of the story.
Are you ready to sue Charles Schwab in small claims court?
If this sounds too hard and expensive, try consumer arbitration instead…
The Ultimate Guide to Consumer Complaints
Learn More
