Settlement Structure: Claims Made
Active: Open
Case Summary:American Credit Acceptance, LLC (ACA) is settling a class action alleging it violated the Rees-Levering Automobile Sales Finance Act when it issued its written notices to consumers after repossessing their vehicles. The settlement concerns deficiency balances, that is, the amounts still allegedly owed by the consumer after the sale of the collateral automobile.
Docket Number:19STCV43101
Company: American Credit Acceptance, LLC
Filing Deadline: January 1, 2100
Class Period: December 2, 2015 to February 11, 2021
Objection Deadline: May 9, 2022
Exclusion Deadline: May 9, 2022
Final Approval Hearing: July 28, 2022
Proof of Purchase:You do not have to submit a claim form or provide proof.
Eligibility:You may be eligible if you are a person who (1) entered into a conditional sale contract in California and (2) received a Statutory Notice from ACA, between December 2, 2015 and February 11, 2021, and (3) ACA assessed a deficiency balance against your account.
Typical Settlement Amount:Benefit: Deficiency balance forgiveness. ACA has agreed to waive and not pursue collection on class members’ accounts. It will also delete the trade lines reported to the major credit reporting agencies and buy back any of these debts that have been assigned to collection agencies.
Total Settlement Amount: $98,033,433.44
Class Representative Proposed Incentive Fee:$10,000
Law Firms:
Law Offices of Brandon A. Block
Trueblood Law Firm, APC
Case Name: Sherrard, et al. v. American Credit Acceptance, LLC
Settlement Website: American Credit Acceptance Deficiency Balances California Settlement Website
Claims Administrator:
Kroll Settlement Administration, LLC
Sherrard v. American Credit Acceptance
c/o Kroll Settlement Administration LLC
P.O. Box 225391
New York, NY 10150-5391
1-833-910-3609