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If you owned property repossessed by Alliance Credit Union, you could get valuable benefits from a class action settlement.
A court authorized this notice.
- You may be eligible to participate in a settlement with benefits, including money, the write-off of certain deficiencies, and the deletion of certain negative credit information from credit reports for all persons with a secured collateralized loan or financing agreement with Alliance Credit Union (“ACU”) whose collateral was repossessed and who were mailed a presale or post-sale notice. The settlement resolves a lawsuit over whether ACU sent proper notices to you after repossessing and/or selling your property. This settlement avoids costs and risks to you from the lawsuit; provides benefits to borrowers like you; and releases ACU from liability.
- The parties disagree on whether the borrowers could have won at trial and the amount of money they would have been entitled to had they won.
- Your legal rights are affected whether you act or don’t act. Read this notice carefully.
- Consult your tax adviser about the tax issues associated with this settlement. Relief provided under this settlement, including money and debt reduction, may be subject to tax.
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Your Legal Rights and Options in this Settlement |
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Do Nothing |
By doing nothing, you will receive the benefits that come from the settlement, including money. But you give up rights to separately sue ACU about the same legal claims asserted in this lawsuit. |
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Exclude Yourself |
Get no money or benefits. This is the only option that allows you to ever be part of any other lawsuit against ACU about the legal Claims asserted in this lawsuit. |
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Object |
Write to the Court about why you don’t like the settlement. |
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Go to a Hearing |
Ask to speak in Court about the fairness of the settlement. |
- These rights and options—and the deadlines to exercise them—are explained in the full notice which can be found here.
- The Court must still decide whether to approve the settlement. Money and benefits will be provided if the Court approves the settlement and after any appeals are resolved. Please be patient.