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Consumers who got a payday loan at Advance America or National Cash Advance in North Carolina on or after March 1, 2003 can expect a check in the mail the beginning of next year, thanks to a class action lawsuit settlement.
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The North Carolina Advance America settlement resolves a 2004 class action lawsuit that accused the lender of charging illegal fees and interest rates as high as 450%. North Carolina law caps interest for these types of loans at 36%.
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Advance America had already stopped lending in North Carolina as a result of an investigation by the North Carolina Attorney General’s Office and the North Carolina Office of the Commissioner of Banks. North Carolina AG Roy Cooper has been actively pursuing payday lenders who engage in illegal lending practices and has been forcing them to cease operations in the state. Filing class action lawsuits against them to recover funds for illegally charged and overcharged borrowers is part of his plan of attack. Three other major payday lenders in North Carolina — Check Into Cash, Check N Go and First American Cash Advance — previously reached a class action settlement agreement to stop making illegal payday loans in the state.
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Advance America, the country’s largest payday lender, has agreed to pay $18.75 million to settle the class action lawsuit. More than 140,000 North Carolina consumers who got a payday loan at Advance America or National Cash Advance on or after March 1, 2003 will receive payments as part of the proposed class action settlement. If you’re one of these consumers, you do not need to file a claim to be able to participate in the settlement and receive a check. If the settlement is approved, checks will automatically be mailed to all class members who can be located, beginning the first half of 2011.
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An attorney for the plaintiffs said four other major payday lenders in North Carolina who took tens of millions of dollars in illegal fees from consumers are currently in litigation now. Advance America recently settled another class action lawsuit in South Carolina in August. Consumers in South Carolina are expected to receive checks for $100 from that class action lawsuit settlement, which included 16 other payday lenders.
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Updated October 1st, 2010
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35 thoughts onAdvance America Class Action Settlement
Add me 8 received a letter about this breach
I received a letter from Advance America stating that there was a data breach, and that my information has been leaked and I got a payday loan from Advance America all my personal information I gave them my privacy has been violated. Upon receiving this letter I would like to take further action.
Is there a class action lawsuit with Advance America yet? If Yes, where is sign up? I got a letter too. I’d like to join class action suit.
Add me
Add me
Add me
Add me. I received letter data breach
Add me please
I received a phone call from a representative saying I applied for a loan from them back in 2009. They gave me a $500.00 loan. I paid back the entire loan in less than 2 weeks! I then received numerous calls saying I owe $5000.00! I was scammed for sure.
They are harrising me for a loan i already paid.
I was ripped off for 4500 by these crooks.
I received a phone call from a law firm saying that I get a payday loan from them back in 2009 and did not pay it back now they talking about taking me to court i don’t own them anything
I got the same phone call today. I’ve been getting them for the last month.
I would like to opt in on the class civil action for advance america.here is my address -2513 mississippi ave.
savannah,ga.31404
hi I received a letter from tahisha king and James e. strong of a civil action concerning advance loans on 2009. but moved to texas and never heard anything else. was a customer with them for a long time too. what was the lawsuit concerning.