Last week, a Minnesota federal judge preliminarily approved a $3.25 million class action settlement over allegations Chase Auto Finance and Repossessors Inc. violated the Fair Debt Collection Practices Act and state law by illegally repossessing consumers’ vehicles from April 2013 to April 2018.
Chase Auto Finance is the auto financing arm of JPMorgan Chase Bank NA and Repossessors is a debt collector.
The defendants did not admit to any wrongdoing but agreed to settle the vehicle repossession class action lawsuit to avoid the burden and expense of ongoing litigation.
On Aug. 9, U.S. District Judge Susan Richard Nelson found that the proposed class action settlement is “fair, reasonable and adequate, and within the range of possible approval.” She found that the deal had been negotiated in good faith at arm’s length, and that the terms provide for sufficient notice of the settlement to be provided to reach potential Class Members.
The judge also certified for settlement purposes a Class of all Minnesota consumers whose vehicles were repossessed between April 7, 2013 and April 30, 2018 on behalf of JPMorgan Chase.
Class Members will reportedly be eligible to claim a payment of about $792 from the JPMorgan Chase settlement. Approximately 2,400 Class Members are expected to qualify for payment from the Chase Auto Finance class action settlement.
Plaintiff Che C. Clark filed the vehicle repossession class action lawsuit in 2017. According to the JPMorgan Chase class action lawsuit, she purchased a 2012 Jeep Grand Cherokee from a Minnesota car dealership in January 2015. She says she financed the purchase with a loan from Chase Auto Finance.
Clark says she began falling behind on her car payments starting in April 2015. Chase Auto Finance reportedly accepted late monthly payments and did not inform her that it intended to repossess her vehicle. Chase Auto Finance allegedly hired repossessors sometime around December 2016 to repossess Clark’s vehicle, the JPMorgan Chase vehicle repo class action lawsuit says.
Because Chase Auto Finance accepted late payments from Clark, the company was required under Minnesota law to be told that strict compliance with the terms of the car loan were mandatory before it was legally able to repossess her vehicle, according to the vehicle repo class action lawsuit. Chase Auto Finance failed to do so, Clark alleges.
Class Members who would like to opt out of or object to the JPMorgan Chase settlement will have until Nov. 7, 2018 to do so. A final approval hearing has been scheduled for Dec. 11.
Top Class Actions will post updates to this class action settlement as they become available. For the latest updates, keep checking TopClassActions.com or sign up for our free newsletter. You can also receive notifications when this article is updated by using your free Top Class Actions account and clicking the “Follow Article” button at the top of the post.
Clark is represented by Adam R. Strauss and Scott M. Cody of Tarshish Cody PLC and Thomas L. Lyons Jr. of Consumer Justice Center PA.
The JPMorgan Chase Vehicle Repo Class Action Lawsuit is Clark v. JPMorgan Chase Bank NA, et al., Case No. 0:17-cv-01069, in the U.S. District Court for the District of Minnesota.
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41 thoughts on$3M Chase Auto Finance Repo Class Action Settlement Gets Initial OK
I bought my truck in Illinois. Work took me to Louisiana. Got laid off. Moved to Utah to work. Angelo of Chase Auto Finance had someone break the window out and steal my truck because I was 2 months behind on payments. I was late before but always paid. $18,000 truck cost at 32% interest. I had the truck about 4 years when they stole out of my driveway. In order to get it back I had to pay 3 months notes and get someone to refinance the truck. Paid over $20,000 in payments.
I bought my truck in Illinois. Work took me to Louisiana. Got laid off. Moved to Utah to work. Angelo of Chase Auto Finance had someone break the window out and steal my truck because I was 2 months behind on payments. I was late before but always paid. $18,000 truck cost at 32% interest. I had the truck about 4 years when they stole out of my driveway. In order to get it back I had to pay 3 months notes and get someone to refinance the truck. Paid over $20,000 in payments.
I had a car repossessed by chase years ago. Didn’t have car 2 months . Didn’t let me get the car back. Had the payments the next day. Sued me for the total amount owed plus interest. Had a wage assignment for a couple years.
I am just curious if I can still fight losing my car. I was not prepared or warned about repo. I paid late but I always paid
Repo my Mercedes in tx never heard where it was to be auctioned off at only told me to come get my belongings next thing I know it was sold and on credit report for balance need lawyer or file in civil CT they violated credit act
Doing the same exact thing to my boyfriend. He has been calling for days and all they say is there system has not been updated to tell him the amount he has to pay to get his truck back. They are horrible!!!!!!!!!!!!!!!!!!!!!!!!!!!
Samee they told my boyfriend he was caught up on payments. Next thing he knows they told him it’s gonna be repoed if he doesn’t pay $1600. Apparently only 37 cents from the 808 he paid went towards the truck but he never saw the rest of the money nor did they.
Me and my boyfriend first customer to chase for new Jeep gladiator rubicon were making payments on time regularly for 5 months then we notice chase mobile app taking out thousand dollar increments for payments couple times a day, within a couple weeks the truck was paid off, called chase to fix the problem and they said it was a chase error. The truck was repossessed a week later and none of the over payments were returned. Then they wiped chase auto account completely off so we couldn’t prove to repo guy it was paid up to date. Then we had to borrow another 5k from parents to get truck out of repo on top of all the payments that were took, none of the over payments were returned till 3 months later, ruined our holidays caused emotional and physical and emotional damage and distress on family and relationship. Finally got truck out of repo and started making payments and they started it
All back again they sent a statement in the mail of all the payments that were processed and said they let return and they never did till a month later. They were stealing money out of account how is this legal?
Chase is horrible to deal . No notification of taking the vehicle and opportunity to make arrangements especially during covid, and loss hours for work. They are heartless. Phone calls made to third party asking questions and telling about the debt, which is against the law, and calling the third party multiple times during the day.
I’m in a similar situation. They repossessed a car that was a lemon from the start, then decided to charge me more than the remaining amount owed. I paid more than 50% of the car and they charged it all to interest fees and not the actual principal amount on the car. Now I keep getting calls every so often even though it shows charged off on my credit report. I wish there was a lawsuit with Florida.
They just repo my car today and chase bank will not let me make arrangements. They are horrible
After how many missed payments?