Top Class Actions’s website and social media posts use affiliate links. If you make a purchase using such links, we may receive a commission, but it will not result in any additional charges to you. Please review our Affiliate Link Disclosure for more information.
This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
UPDATE 2:
- TCA viewers reported receiving settlement payments of $34.88 as of mid-June 2021.
- Congratulations to everyone who filed a claim and got paid!
UPDATE:
- The Great Plains High Interest Class Action Settlement was granted final approval on March 29, 2021.
- Let Top Class Actions know when you receive a check in the comments section below or on our Facebook page.
A high interest rate settlement worth more than $57 million has been reached to resolve claims that Great Plains Lending and other lenders violated interest laws. The settlement provides cash payments based on the amount of principal interest paid by each Class Member.
The high interest rate settlement benefits individuals who had a loan from Great Plains Lending, a loan from Plain Green before June 1, 2016, and/or a cash advance pursuant to a line of credit from MobiLoans before May 6, 2017.
Great Plains, Plain Green, and MobiLoans are all owned by Native American tribes but provided financial services through companies such as Think Finance. Unfortunately for borrowers, these companies allegedly originated loans with excessive interest rates. Despite the companies’ arguments that the high interest rate scheme was permitted under tribal law, plaintiffs in a class action lawsuit argued that these rates violated state limits.
The defendants have not admitted any wrongdoing but have agreed to pay more than $57 million to resolve the claims against them.
The settlement provides debt cancellation benefits and loans purchased by National Credit Adjusters from Great Plains, Plain Green (prior to June 1, 2016), and MobiLoans (prior to May 6, 2017) will be cancelled. These debts will not be reported to a credit reporting agency and any reports associated with these debts will be withdrawn.
The deal also provides cash payments to certain consumers who paid high interest rate payments on their loans. These payments will compensate consumers for principal interest paid above their state’s legal limit. More details about exclusions are available in the “Potential Award” section below.
No claim form is required to benefit from the high interest rate settlement. Class Members can check their eligibility for a cash payment and provide a change of address using a portal on the settlement website. The deadline for exclusion and objection is Feb. 12, 2021. The final approval hearing is scheduled for March 25, 2021.
Who’s Eligible
Individuals who had a loan from Great Plains Lending, a loan from Plain Green before June 1, 2016, and/or a cash advance pursuant to a line of credit from MobiLoans before May 6, 2017.
Potential Award
Cancellation of debt and cash payments.
As part the settlement, loans purchased by National Credit Adjusters from Great Plains, Plain Green (prior to June 1, 2016), and MobiLoans (prior to May 6, 2017) will be cancelled. These debts will not be reported to a credit reporting agency and any reports associated with these debts will be withdrawn.
The settlement also establishes a fund of more than $57 million to finance cash payments to some Class Members. These payments will compensate consumers for principal interest paid above their state’s legal limit. However, the following Class Members are not eligible for cash payments:
- Class Members who did not make payments on their loans.
- Class Members in Arizona, Arkansas, Colorado, Connecticut, Idaho, Illinois, Indiana, Kansas, Kentucky, Massachusetts, Minnesota, Montana, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Pennsylvania, Ohio, South Dakota, Vermont, Virginia, or Wisconsin who did not make payments above the principal interest on their loans.
- Class Members in Alabama, Alaska, California, Delaware, Florida, Georgia, Hawaii, Iowa, Louisiana, Maine, Maryland, Michigan, Mississippi, Missouri, Nebraska, North Dakota, Oklahoma, Oregon, Rhode Island, South Carolina, Tennessee, Texas, Washington, West Virginia, Washington D.C., or Wyoming who did not pay interest above their state’s legal limit.
- Class Members in Utah and Nevada (states with no high interest rate restrictions).
Proof of Purchase
N/A
Claim Form
There is no Claim Form for this settlement. Class members with further questions can click here for more information.
Claim Form Deadline
2/12/2021
Case Name
Gibbs, et al. v. Rees, Case No. 3:20-cv-717-MHL, and Gibbs v. TCV V LP, Case No. 3:19-cv-789-MHL, both in the U.S. District Court for the Eastern District of Virginia
Final Hearing
3/25/2021
Settlement Website
Claims Administrator
Think Finance – NCA Refund Request Documentation
c/o RSM LLP
P.O. Box 1387
Blue Bell, PA 19422
questions@ThinkFinanceSettlement.com
1 (877) 830-7932
Class Counsel
Andrew J. Guzzo
KELLY GUZZO PLC
Leonard A. Bennett
CONSUMER LITIGATION ASSOCIATES PC
Anna Haac
TYCKO ZAVAEERI LLP
Defense Counsel
Shon Morgan
QUINN EMANUEL URQUHART & SULLIVAN LLP
Stephen D. Hibbard
JONES DAY
Charles K. Seyfarth
O’HAGAN MEYER
Read About More Class Action Lawsuits & Class Action Settlements:
35 thoughts onGreat Plains High Interest Loan Class Action Settlement
Received 2 checks one for 5 another for 255 we are in Ohio
Please add me
10-5-21