In a case involving post-repossession notices, Alameda County Superior Court has issued preliminary approval of a class action settlement. Alliant Credit Union has agreed to settle the case of Veronique McCoy and Bernardo Castro v AlliantCredit Union, Case No. RG 09-444283, with significant benefits to settlement class. Representative plaintiffs Veronique McCoy and Bernardo Castro alleged that Alliant Credit Union failed to provide post-repossession notices that comply with California law. Although it denies the allegations, Alliant will provide substantial relief to the 640 class members, including a promise to stop collection of approximately $7,370,853 in outstanding deficiency balances and to refund the full amount that class members have already paid on their deficiencies, if any. The aggregate refund is $139,660.54. There is no claims process.
Bryan Kemnitzer and Nancy Barron of the San Francisco office of Kemnitzer, Barron & Krieg, and Mark Chavez, of Chavez & Gertler, Mill Valley, California, represent the class.
The case arose out of the plaintiffs’ purchase of vehicles from dealers who arranged financing through Alliant Credit Union. Veronique McCoy purchased a 2005 Mazda on July 21, 2004 from Enterprise Rent-A-Car and Bernardo Castro purchased a 2004 Chevrolet Avalanche on November 16, 2007 from Sacramento Auto Plaza. Each borrower eventually fell behind in their payments and their vehicles were repossessed – McCoy’s on September 5, 2008 and Castro’s on October 11, 2008. Thereafter Alliant Credit Union sent them a “notice of intent” to sell the vehicle. Plaintiffs contend that this NOI failed to provide the borrowers certain information that would enable them to know exactly what they had to do to reinstate or redeem the contract in time to get their vehicle back and avoid auction.
The Class includes borrowers to whom Alliant Credit Union mailed an NOI between April 1, 2005 and May 1, 2009. If you are a member of this class, you should receive a class notice shortly after April 9, 2010.
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Alliant Credit Union Settles Class Action Concerning Repossession Notices
In a case involving post-repossession notices, Alameda County Superior Court has issued preliminary approval of a class action settlement. Alliant Credit Union has agreed to settle the case of Veronique McCoy and Bernardo Castro v Alliant Credit Union, Case No. RG 09-444283, with significant benefits to settlement class. Representative plaintiffs Veronique McCoy and Bernardo Castro alleged that Alliant Credit Union failed to provide post-repossession notices that comply with California law.
Although it denies the allegations, Alliant will provide substantial relief to the 640 class members, including a promise to stop collection of approximately $7,370,853 in outstanding deficiency balances and to refund the full amount that class members have already paid on their deficiencies, if any. The aggregate refund is $139,660.54. There is no claims process.
Bryan Kemnitzer and Nancy Barron of the San Francisco office of Kemnitzer, Barron & Krieg, and Mark Chavez, of Chavez & Gertler, Mill Valley, California, represent the class.
The case arose out of the plaintiffs’ purchase of vehicles from dealers who arranged financing through Alliant Credit Union. Veronique McCoy purchased a 2005 Mazda on July 21, 2004 from Enterprise Rent-A-Car and Bernardo Castro purchased a 2004 Chevrolet Avalanche on November 16, 2007 from Sacramento Auto Plaza. Each borrower eventually fell behind in their payments and their vehicles were repossessed – McCoy’s on September 5, 2008 and Castro’s on October 11, 2008. Thereafter Alliant Credit Union sent them a “notice of intent” to sell the vehicle. Plaintiffs contend that this NOI failed to provide the borrowers certain information that would enable them to know exactly what they had to do to reinstate or redeem the contract in time to get their vehicle back and avoid auction.
The Class includes borrowers to whom Alliant Credit Union mailed an NOI between April 1, 2005 and May 1, 2009. If you are a member of this class, you should receive a class notice shortly after April 9, 2010.