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This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
American Credit Acceptance agreed to forgive over $98 million in deficient account balances as part of a settlement resolving claims of improper car repossession.
The settlement benefits individuals who received written notice from American Credit Acceptance of the pending sale or disposal of their repossessed or surrendered vehicles between Dec. 2, 2015, and Feb. 11, 2021, whose vehicles were later sold, and who were charged a deficiency balance on their accounts.
The settlement does not benefit individuals who meet this description but who previously reached a court judgment over deficiency balances, who filed for bankruptcy, or who are deceased.
American Credit Acceptance (ACA) is a lending company specializing in connecting consumers with dealers to secure automotive loans. The company partners with over 2,500 dealers and has helped more than 630,000 consumers find affordable vehicle options.
However, according to a class action lawsuit against the company, ACA failed to comply with California lending laws.
Plaintiffs claim ACA violated California’s Rees-Levering Automotive Sales Finance Act with insufficient written notices. Then, the company allegedly assessed deficiency balances on customer accounts based on these notices, resulting in credit reports.
The court ordered plaintiffs to arbitrate their claims outside of court, a process that started in 2020. ACA has not admitted any wrongdoing but agreed to forgive over $98 million in deficiency balances as part of the arbitration settlement.
Under the terms of the settlement, around 8,500 accounts with deficiency balances will be wiped clean. As a result, ACA will no longer try to collect on these accounts.
The company will also request that credit reporting agencies delete any reference to these accounts. This could improve consumer credit scores.
The deadline for exclusion and objection is May 9, 2022.
The final approval hearing for the American Credit Acceptance improper repossession settlement is scheduled for July 28, 2022.
No claim form is required to benefit from the settlement. Instead, Class Members who do not exclude themselves will automatically receive benefits.
Who’s Eligible
The settlement benefits individuals who received written notice from American Credit Acceptance of the pending sale or disposal of their repossessed or surrendered vehicles between Dec. 2, 2015, and Feb. 11, 2021, whose vehicles were later sold, and who were charged a deficiency balance on their accounts.
The settlement does not benefit individuals who meet this description but who previously reached a court judgment over deficiency balances, who filed for bankruptcy, or who are deceased.
Potential Award
Deficiency balances forgiven.
Proof of Purchase
No proof of purchase applicable.
Claim Form
No claim form required.
NOTE: If you do not qualify for this settlement do NOT file a claim.
Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.
Claim Form Deadline
N/A
Case Name
Jay Sherrard, et al. v. American Credit Acceptance LLC, Case No. 19STCV43101 in the Los Angeles County Superior Court
Final Hearing
07/28/2022
Settlement Website
Claims Administrator
Sherrard v. American Credit Acceptance
c/o Kroll Settlement Administration LLC
P.O. Box 225391
New York, NY 10150-5391
1-833-910-3609
Class Counsel
Brandon A. Block
LAW OFFICES OF BRANDON A. BLOCK, A PROFESSIONAL CORPORATION
Alexander Trueblood
TRUEBLOOD LAW FIRM APC
Defense Counsel
Scott Hyman
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84 thoughts onAmerican Credit Acceptance Improper Car Repossession $98M Class Action Settlement
Please add me.
15 U.S. Code § 1611 – Criminal liability for willful and knowing violation
15 U.S. Code § 1692f – Unfair practices
I am and have been afected by credit aceptance .i a min th same boat along with every body else.ilime to take action againstt thm as well.
I have 2001 loan with them for a 2010 f150. They hid a 5k charge saying it wasn’t optional but it was, have repossessed my truck 3 times now and still show my 1st payment as missed which destroyed my credit . All in all I pay 30k for a 10k truck. In TN. So please reopen or add me . Jonathan woodard 570 E sunset hills Morristown TN 37814
Please add me as well. ACA repo my car too Trap me into owing monies after I am due too recieve my Title in Feb 2023.I have been behind a month on my payments since Repo they took my money and gave me a 3 month extension of $445 which is my payoff plus $2000 for fees…I need a lawyer or my Title.Crooked people doing crooked deals and it’s costing the consumers!!!!
Wow sorry about that! We are also paying a huge interest fee. We have 2017 Nissian at 17,000 and we’ve paid 20,000+ and apparently still owe
16, 800+ On the car. Something about differment
Please add me I bought a 2014 Ford Focus from “The Ksr Place” in Escondido and am financed with Credit Acceptance. I did not want to buy this car from the get go but desperately needed a car and was told I buy the Focus or I get no car at all ! I was told the car came with a 25,000 mile warranty only to learn I was charged $1700 for that warranty. Ofcourse I expected ” finance charges but did not expect nor was I told the finance charges were going to cost $9000 which was more than what I was to pay for the car. I have had the car for 6 months and the transmission over heats and jumps and the motor keeps over heating and the check rngone light stays on. When all payments have been made I will have paid $18,000 for a carcthats not even worth $3000.
Please add me !!!
I’m dav vet and america credit acceptance repo my vehicle with failure to me and my wife holding my three months grandson. Injury .
Please add me to the lawsuit a credit acceptance.
I am currently also waiting litigation but I am not and will not go into any class action proceedings reason being, tho the payout may sound large in reality after the attorneys get their pay off the top! Then comes the court! Then comes the management and holding charges the bank will charge and never forget the subsections fee requirements aka the really small print! After all that don’t be surprised to see a check for 1.99 with that out of the way every single action American Credit Acceptance did was 100.% illegal myself I want them arrested and jailed like any other criminal in this country!! I can’t believe they are still open and doing the same exact thing again in like five other states!
Write I feel this same way. We got 2017 Nissan for 17,000 and have already paid 20,000 and they say we still owe 16,000 more!!!
Does anyone know when we’re expecting to get the settlement money?
Add me
I been charged with over priced fees and repossessed also we need another suite against them this is unfair.
Since this case is closed is there anyway that we can get another class action lawsuit started against this company because they obviously didn’t learn the first time because they are still doing the same shady practice of repossession, I live in Virginia.
I agree please re-open the lawsuit or class action suit my name is Mark I live in Washington DC. I purchased a 2011 Nissan Maxima with a trade of my 2011 Ultima it was used and it had been an accident from the Nissan dealer but the Carfax that they showed me said that it wasn’t in an accident I took it to a body shop because the hood wasn’t sitting on the car properly and he said well the frame is bent and so during Covid the two years that I didn’t have to deal with Credit Acceptance they have recently started sending me bills the last week $15,000 I paid 14 for the car they have me they repossessed it once I paid it and got it out it’s in repossession now but Covid just opened up and they sent me a bill for 20,000 and they want 15 I called them today to try and get modification but I’ll let them know also that I was lied to about the carton of it being in an accident. I had no idea that this class action suit was against them and during Covid it should’ve It would’ve been good to have made it known because I am a victim and I would love to have my debt either modified or canceled to the courts. I don’t even drive the car because they had it registered in Maryland but I live in DC I kept my old tags and a Nissan dealer knew that but he didn’t register with Washington DC the title. I think a American Credit Acceptance knew about these used closet they had dealers self of them that have been totaled and they pass them up. Please get back with me as I called them today the lady answered the phone and made it known that she had to make the statement that she was a credit collector a dead collector and that Maryland requires that they do that I said why didn’t call debt collector I called credit acceptance but she was trying to play me a stupid and an ignorant person. She said if I made one payment it would come out of repossession. I had no idea the car was in repossession because I never got any documentation I just got the first letter for the balance last week. This is the perfect time for them to even negotiate or forgive my loan. I know that I have a case of some sort because they charge me a high interest rate which I agreed but the unfair practice of saying that it was never an accident showed me a Carfax. And then charge me 24%. But Covid had the billet he to stop people from making car payments and home payments almost 2 years so I had no idea that they put my car in repossession even though I have it in the garage cause I can’t get the tax rate for Lack of finances. I would have to pay DC and Maryland and the insurance company and I’m disabled. And my monthly is $364.93 with credit acceptance.
Please re-open or re-visit this Top Class Action Lawsuit I did not know it was a open case on ACA! I purchased a charger for 13,000 and after they made me agree to extra accessories on the car that it didn’t have my note was a whopping $650 I paid on time for 2 years before I couldn’t keep up. Please help me 🙏🏽
We need to open up another lawsuit against them but I don’t know how to get it started.
Following for the same reason
Yes…Please.These people are Crooked asf