Automobile Acceptance Corp. v. Eugene Jerome Nichols: Automobile Acceptance Corporation (AAC) class action settlement
The Automobile Acceptance Corporation (AAC) class action settlement has closed and is no longer accepting claims. Who it covered: All persons to whom AAC mailed the same form pre-sale or post-sale notice as was mailed to the plaintiff, whose collateral was repossessed, excluding: (1) those against whom AAC obtained a final deficiency judgment; (2) those who filed for bankruptcy after their pre-sale notice date and whose bankruptcy ended in discharge; and (3) those whose only pre- or post-sale notices were mailed before August 6, 2010. Class members automatically receive a share of a $2,000,000 cash fund (after attorney fees up to 35% and costs up to $40,000 are deducted), plus cancellation of deficiency balances estimated at $11,630,000 in total value, and deletion of related negative credit report entries. Individual payment amounts depend on the principal borrowed and the interest rate on the loan. No claim deadline has been published yet.
This class action lawsuit alleged that Automobile Acceptance Corporation (AAC) violated statutory requirements by sending improper pre-sale and post-sale notices to borrowers when repossessing and selling their property. The settlement provides cash payments, cancellation of outstanding deficiency balances, and deletion of negative credit report entries related to those balances. Class members do not need to file a claim to receive benefits.
The facts
| Proof required | No |
|---|---|
| Class period | from August 6, 2010 |
| Court | Seventh Judicial Circuit Court for Clay County, Missouri |
| Docket number | 15CY-CV07631-01 |
| Administrator | American Legal |
| Final approval hearing | June 20, 2024 |
| Status | Closed, no longer accepting claims |
Common questions
Who is eligible for the Automobile Acceptance Corporation (AAC) settlement?
All persons to whom AAC mailed the same form pre-sale or post-sale notice as was mailed to the plaintiff, whose collateral was repossessed, excluding: (1) those against whom AAC obtained a final deficiency judgment; (2) those who filed for bankruptcy after their pre-sale notice date and whose bankruptcy ended in discharge; and (3) those whose only pre- or post-sale notices were mailed before August 6, 2010.
How much money will I get?
Class members automatically receive a share of a $2,000,000 cash fund (after attorney fees up to 35% and costs up to $40,000 are deducted), plus cancellation of deficiency balances estimated at $11,630,000 in total value, and deletion of related negative credit report entries. Individual payment amounts depend on the principal borrowed and the interest rate on the loan. Final amounts usually depend on how many valid claims are filed, so the published figure is a maximum rather than a promise.
When is the claim deadline?
No claim deadline has been published yet. This settlement is no longer accepting claims.
Do I need receipts or proof of purchase?
You do not need receipts or any other documentation to file. Every claim form asks you to confirm that the information you give is true, and filing a claim you are not entitled to is fraud.
Is the Automobile Acceptance Corporation (AAC) settlement legitimate?
This settlement is administered by American Legal, a court appointed claims administrator. It is docketed as 15CY-CV07631-01 in the Seventh Judicial Circuit Court for Clay County, Missouri, which you can look up yourself. A real settlement never asks you to pay to file a claim. File only on the official settlement website linked on this page.
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CSAC, INC. v. SADE M. CRAWFORD
This class action settlement involves CSAC, Inc., a lender that allegedly failed to send proper notices to borrowers in connection with loan collection, repossession, and sale of collateral. The lawsuit claims that CSAC did not comply with required presale or post-sale notice obligations. The settlement provides monetary relief, debt deficiency write-offs, and deletion of certain negative credit report entries.
Last verified . We re-check every settlement against its official website. Details can change after that, so confirm on the official site before you file. How to verify any settlement yourself.