Missourians to get auto loan checks
July 26, 2008
“I’ve never heard of or seen any other case in which judgments are set aside in wholesale quantities as part of the resolution of the case”
More than 11 years after it was sued for automobile installment contract overcharges, Credit Acceptance Corp. is sending checks to 15,000 Missourians as part of a $50 million-plus settlement.
The first wave of checks went out in the mail last month and the second wave is expected to be mailed before the end of this month, said Dale Irwin, an attorney for the plaintiffs.
The settlement calls for Credit Acceptance to write off $39 million in outstanding account balances and to distribute $13.1 million in cash to eligible car owners who financed used-car purchases through the company. Read more
http://www.topix.com/com/cacc/2008/02/miss…
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