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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!
Bank of America has agreed to settle a class action lawsuit alleging it failed to update credit reporting information for credit card accounts sold to third parties where the accountholder’s debts were discharged in Chapter 7 bankruptcy after they were sold.
If you had a Bank of America Credit Card and your debts were discharged in a Chapter 7 bankruptcy, you may be entitled to payment from the $5.5 million class action settlement.
Plaintiff Michael Echevarria filed the BofA class action lawsuit in bankruptcy court on March 31, 2014. Although it was dismissed, Echevarria’s motion to consolidate his action with three other pending class action lawsuits was successful.
The plaintiffs filed an amended BofA class action lawsuit on Nov. 11, 2014, and the litigation survived Bank of America’s motion to dismiss.
According to the Bank of America class action lawsuit, Bank of America’s failure to update credit card information when the accountholder’s debts were sold meant that the tradelines did not indicate that the debts were included in bankruptcy. The tradelines allegedly continued to reflect that the debts were sold, charged off and $0 balance.
The plaintiffs allege that Bank of America’s tradeline reporting practices harmed consumers by adversely affected their ability to obtain credit and access their credit scores.
Bank of America denies the allegations but agreed to settle the BofA class action lawsuit to avoid the risks, costs and uncertainty of ongoing litigation.
The deadline to opt out of or object to the Bank of America class action settlement is Jan. 30, 2018.
Who’s Eligible
Class Members of the Bank of America settlement include “all individual borrowers who (i) maintained a Credit Card Account with [Bank of America NA] that was charged off by [Bank of America NA] and sold to a third-party Debt Buyer on or after January 1, 2008; and (ii) were discharged in Chapter 7 bankruptcy after such debt was sold to a third-party Debt Buyer but before October 1, 2015.”
Potential Award
Varies.
The BofA class action settlement allows for three types of payments:
Automatic Payments to Bank of America Post-Discharge Payors: If you made one or more payments to Bank of America on your credit card account after it was sold to a debt buyer and after you received a Chapter 7 bankruptcy discharge, you will automatically receive a payment in the amount of the last payment you made. You do not need to file a Claim Form to claim this payment.
Reimbursement Claim: You may claim a refund of your post-discharge payment(s) up to the full amount of payments you made on your credit card after you received a Chapter 7 bankruptcy discharge. NOTE: This payment may be subject to a pro rata reduction if the claims exceed the class action settlement fund.
Distribution Claim: You may file a claim to receive a pro rata share of the amount of the settlement fund that remains after all other claims have been paid.
Proof of Purchase
Class Members who file a Reimbursement Claim must submit documentation supporting their claim. Acceptable documentation includes cancelled checks, account statements or similar proof.
Claim Form
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
1/30/2018
Case Name
Michael Echavarria, et al. v. Bank of America Corporation, et al., Case No. 14-08216, in the U.S. District Court for the Southern District of New York
Final Hearing
3/2/2018
UPDATE: The Bank of America Credit Card Class Action Settlement was granted final approval on March 14, 2018. Let Top Class Actions know when you receive a check in the comments section below or on our Facebook page.
Settlement Website
www.EchevarriaSettlement.com
Claims Administrator
Echevarria v. Bank of America Settlement Administrator
c/o Epiq Systems Inc.
P.O. Box 3145
Portland, OR 97208-3145
1-844-319-9617
Class Counsel
George Carpinello
Adam Shaw
BOIES SCHILLER FLEXNER LLP
Charles Juntikka
CHARLES JUNTIKKA & ASSOCIATES
Defense Counsel
Mary J. Hackett
Jarrod D. Shaw
MCGUIREWOODS LLP
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33 thoughts onBank of America Credit Card Class Action Settlement
Does anyone know any updates with this?
My husband and I definitely qualify under this class action settlement. I didn’t know about this settlement until today, as I was out of the country for 3 months and didn’t return to the US until February.
I live in St. Thomas, VI. We got hit by 2 Category 5 hurricanes last September. I left for 3 months so that I could continue running my small business without interruption. We had no power until the end of December and no internet until the end of January 2018.
I read that the deadline expired on 1/30/18. Given my extenuating circumstances, are there any exceptions to the 1/30/18 deadline?
Please add me to the list
We are part of this.i got a letter but can’t find it.my husband passed away three years ago can I still claim this.thank u
My Chapter 13 case was Dismissed, and my house foreclosed, but the dismissed bankruptcy is still the first thing that shows up on all the credit score sites (Equifax, etc.). These sites said to contact the court, and the court said they can’t can’t change it and to contact the credit score sites. Is there anything going on like this?
This happened to us to
My husband and I meet the qualifications. What next?
I think I meet the requirements but don’t know the information to give
I believe that I meet the requirements for this settlement.
I believe that I meet the requirements for the settlement. Please let me know what to do next.
Thomasjk1960@gmail.com
Please add me please.