Deadline: October 29, 2024
Payout: Varies
Proof Required: Yes
What is the $37,350,000 LDF Lending Companies Class Action Settlement?
A $37.35 million class action settlement has been reached with LDF Lending Companies, which is operated by the Lac de Flambeau Band of Lake Superior Chippewa Indians. The lawsuit alleged that these companies charged unlawfully high interest rates on their loans and operated without proper licensing, breaching state and federal laws.
What is the Total Settlement Amount?
The settlement comprises $37.35 million in cash payments and approximately $1.4 billion in debt cancellation for outstanding loans.
How Do I Qualify for a Payout?
To be eligible for a payout, you must have taken out a loan from one of the LDF Lending Companies between July 24, 2016, and October 1, 2023. The amount you receive will depend on the principal or interest you paid beyond your state’s legal limits and the overall settlement fund available. Payments will be distributed proportionately.
Where Do I File a Claim?
You generally do not need to file a claim. If you are eligible, you may receive a check automatically if the settlement is approved. If you have moved recently, you should update your address on the settlement website. The deadline for any objections or opting out of the settlement is October 29, 2024.
How Do I Qualify for a Payout?
If you obtained a loan from any of the following companies, you may be eligible for loan forgiveness and a cash payment:
- Lendgreen
- LendUMo
- Zfunds
- Makwa Financial
- Brightstar Cash
- National Small Loan
- Bear Claw Lending
- Sky Trail Cash
- Loan at Last
- Nine Torches
- Bridge Lending Solutions
- Lakeshore Loans
- UbiCash
- Cash Aisle
- MitigCapital
- Avail Blue
- Evergreen Services
- Blue River Lending
- Quick Help Loans (Greenline)
- Radiant Cash
How Much Can I Get Paid?
The amount you receive will depend on the excess principal or interest paid beyond your state’s legal limits and the total settlement fund. Payments will be made based on a proportionate share of the total recovery.
Claim Form Website: ConsumerLoanSettlement.com
Please be aware that your claim form will be rejected if it contains fraudulent information. By submitting your information and your sworn statement of its accuracy, you are agreeing to do so under penalty of perjury. Submitting false information not only jeopardizes your claim but also affects others who are genuinely eligible for the settlement. If you are uncertain about your eligibility for this class action settlement, please visit the class action administrator’s website for more information. Note that NoProofClassActions.org participates in the Amazon affiliate advertising program, and this post may include affiliate links, which could result in us earning a commission if you make a purchase through those links.