Asset Acceptance Settlement Revised Postcards Will Be Mailed Soon

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Those who filed a claim in the Asset Acceptance Telephone Consumer Protection Act class action settlement will have to wait a little longer to receive their payout.

According to the Asset Acceptance TCPA settlement website, more than 350,000 Class Members were sent a postcard notice that contained inaccurate language concerning the amount each individual is entitled to.

Class Counsel discovered the error in January 2016 and requested that the postcard notices be resent to Class Members with the “approved” information.

The Top Class Actions article regarding this settlement has been updated with accurate eligibility information. Class Members affected by the outcome of the TCPA settlement will receive a supplemental postcard notice from the Claims Administrator no later than April 6, 2016.

Court documents indicate that Class Members now have until June 13, 2016 to object to the settlement agreement. A new Final Hearing date has also been rescheduled for June 30, 2016.

The differences between the faulty, original postcard notice and the one that should have been sent, contains relevant information regarding the eligibility of Class Members to receive a portion of the $200,000 cash component of the fund.

According to Class Counsel, the approved version of the postcard notice states:

“If the Class Member owes no money to Defendant, then that Class Member is entitled to a one time pro rata share of the $200,000 cash component of the Common Fund, up to a maximum amount of $1,500. If the Class Member owes Defendant any amount of money, then that Class Member shall be entitled to a one-time forgiveness of the amount that the Class Member is identified as owing to Defendant in Defendant’s records, up to $1,500. The Class Notice on the Settlement Website explains a procedure to receive information on the amount, if any, owed to Defendant and, if not accurate, to challenge that amount for purposes of this settlement only.”

However, the initial postcard notice contained the following wording (incorrect info is in bold):

“If the Class Member owes Defendant less than $10.00 (or nothing at all), then that Class Member is entitled to a one time pro rata share of the $200,000 cash component of the Common Fund, up to a maximum amount of $1,500. If the Class Member owes Defendant $10.00 or more, then that Class Member shall be entitled to a one-time forgiveness of the money owed to Defendant of the lesser of the Individual Debt Forgiveness Settlement Amount calculated by dividing $800,000 by the number of valid Claim Forms received from Class Members who owe Defendant at least $10.00, or the amount that the Class Member is identified as owing to Defendant in Defendant’s records.”

The Asset Acceptance class action lawsuit accused the debt buying company of violating the TCPA by calling cell phones using an automatic telephone dialing system without the consent of the consumer.

The plaintiffs are represented by Abbas Kazerounian of Kazerouni Law Group APC, Joshua B. Swigart of Hyde & Swigart, and Todd M. Friedman of the Law Offices of Todd M. Friedman PC.

The Asset Acceptance TCPA Class Action Lawsuit Settlement is Fox v. Asset Acceptance LLC, Case No. 14-cv-00734-GW-FFM, in the U.S. District Court for the Central District of California.