The LDF Holdings Interest Rates Class Action alleges that LDF Holdings and its associated lending companies issued loans with interest rates exceeding state limits, rendering the loans illegal, deceptive, or unfair under various state and federal laws.
Who Qualifies for a Payout in This Settlement?
You may be eligible if you obtained a loan from any of the LDF Lending Companies between July 24, 2016 and October 1, 2023. The LDF Lending Companies. View the full list.
Is It Necessary to Provide Proof (or Proof of Purchase)?
No, eligible class members are not required to submit a claim form or provide proof to receive benefits. Cash payments will be automatically mailed to eligible class members.
What Amount Can I Receive from This Settlement?
The settlement provides for:
- Debt Cancellation: Approximately $1.4 billion in outstanding loans will be canceled.
- Cash Payments: A $37.35 million fund will be distributed among class members who made payments exceeding their state’s legal interest rate limits. The exact payment amount will depend on the total number of valid claims and the amounts paid by each class member.
How Can I Submit My Claim?
No action is required to receive benefits. If you are an eligible class member, cash payments will be automatically mailed to you.
Important Dates
- Exclusion and Objection Deadline: October 29, 2024
- Final Approval Hearing: December 13, 2024
For detailed information and updates, please refer to the official settlement website.
