fbpx

Think Finance Loans at High Interest Rates Settlement

Settlement Structure: Claims Made

Active: Open

Case Summary:

Partial settlement of class actions alleging three companies, purportedly owned by Native American Indian tribes, made improper loans or supplied lines of credit in violation of federal and state lending laws. The companies are Great Plains, Plain Green, and MobiLoans. The complaints alleged that several companies, which are together known as Think Finance, provided services to the tribes for providing these loans. According to the complaint, the loans were made with higher interest rates than allowed by state laws or without proper licensing.

Docket Number:

3:20-cv-632, 3:18-cv-676, and 3:19-cv-1481

Company: Think Finance Inc.

Filing Deadline: January 1, 2100

Objection Deadline: June 24, 2022

Exclusion Deadline: June 24, 2022

Final Approval Hearing: July 28, 2022

Proof of Purchase:

You do not have to do anything if you cashed the checks you were sent in the previous Think Finance and Sequoia/TCV settlements in this case. If you did not cash a previous settlement check, contact the Settlement Administrator.

Eligibility:

You may be eligible if you obtained
- A loan from Great Plains Lending,
- A loan from Plain Green before June 1, 2016, or
- A cash advance before May 6, 2017 on a line of credit from MobiLoans.
For persons who are excluded, see the Notice at https://www.thinkfinancesettlement.com/pdf/Notice.pdf.

Typical Settlement Amount:

The amount of your payment will depend on your state’s laws and the amount you paid above the principal for your loan or above the principal and legal interest rate limits for your state, as well as the number of other valid claims received. These payment are in addition to any benefits you received from either of the previous Think Finance and Sequoia/TCV settlements.

Total Settlement Amount: $44,530,000 for cash payments

Class Representative Proposed Incentive Fee:

$20,000

Law Firms:
Consumer Litigation Associates PC
Kelly Guzzo PLC
Tycko Zavareei

Claim Form: Cash Award Eligibility and Address Change Form

Case Name: Gibbs v. Elevate, Gibbs v. Stinson, and Brice v. Stinson

Settlement Website: Think Finance Loans at High Interest Rates Settlement Website

Claims Administrator:
Continental DataLogix LLC

Claims Administrator Contact Information:

Think Finance Settlement
c/o Settlement Administrator
P.O. Box 16
West Point, PA 19486
questions@ThinkFinanceSettlement.com
(877) 371-0547

Tags: Excessive Interest Rate, Loan-Related Unfair Practices, Not Licensed to Make Loans, Payday Loans