If your kids have been racking up massive bills on their iDevices then there may be some relief in sight. The company says it will pay to settle a lawsuit over so-called “bait apps”.

While it costs nothing to download these apps, they do charge for in-app currency, including virtual goods or money.

According to GigaOM ^[1], Apple will offer a US$5 iTunes credit to anyone who claims that a minor bought in-app items without their permission.

If the amount is larger than US$5, then Apple will give them an iTunes voucher to the equivalent value and if it’s larger than US$30, then Apple will send them a cash rebate.

The settlement came after concerned parents had sued Apple ^[2] in 2011, after discovering that their children had racked up credit card charges on supposedly free games.

One of GigaOM’s own writers was a victim of the problem, with his kids racking up US$375 ^[3] on a virtual fish game.

Any parent who wants to collect on the statement will have to attest that a minor bought in-game currency and that they did not give the user the Apple password.

It’s unclear how much Apple will end up paying out but in a statement, it said that it would email “over 23-million iTunes account holders who made a Game Currency purchase in one or more Qualified Apps.”