Settlement Structure: Claims Made
Active: OpenCase Summary:
GE Capital Consumer Lending, Inc. and GE Capital Retail Bank (GECRB, formerly known as GE Money Bank, now known as Synchrony Bank) is paying more than $8 million to settle a class action, brought on behalf of people who discharged their debs to it via a Chapter 7 bankruptcy. The complaint alleged that GECRB did not update its credit furnishing for credit card accounts sold to buyers of its debt after the debts were discharged in the bankruptcy proceedings. This left customer accounts showing unpaid debts and may have pressured some customers into paying amounts already discharged because the debts showing as unpaid could negatively affect their creditworthiness.Docket Number:
Company: GE Capital Retail Bank
Filing Deadline: January 28, 2022
Class Period: January 1, 2008 to April 1, 2015
Objection Deadline: January 28, 2022
Exclusion Deadline: January 28, 2022
Final Approval Hearing: February 10, 2022Proof of Purchase:
No proof is needed to submit a Distribution Claim. You do need to provide proof to submit a Reimbursement Claim.Eligibility:
You may be eligible if you are an individual (1) who maintained a GECRB card account, (2) your debt related to that account was charged off and then sold to a debt buyer between January 1, 2008 and April 1, 2015, and (3) after the sale, obtained a discharge of the debt as a result of a Chapter 7 bankruptcy, through April 1, 2015, at a time when an entry referencing the GECRB debt was on your credit report.
If you are a member of the class, you may submit a form for a Distribution Claim. If you are a member of the class who made a payment on the account after it was discharged, you may also submit a form for a Reimbursement Claim.Typical Settlement Amount:
Two types of benefits are available. Reimbursement Claim: If you made a payment on your sold GECRB credit card account after that debt was discharged in a Chapter 7 bankruptcy, and that payment has not been returned, you may be entitled to up to a full refund of the payment made. (Final amounts may be less and will depend on the number and amounts of valid claims submitted.) Distribution Claim: Pro rata share of the remaining net settlement fund, capped at $175 per cardholder.
Total Settlement Amount: $8.455 millionClass Representative Proposed Incentive Fee:
Boies Schiller and Flexner LLP
Charles Juntikka & Associates
Case Name: Belton v. GE Capital Consumer Lending, Inc.
Settlement Website: GE Capital Credit Card Bankruptcy Settlement Website
Belton GE Capital Settlement Program
P.O. Box 26525
Richmond, VA 23261