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You may be entitled to receive a settlement payment and elimination of any Deficiency Balance in connection with a class action against
Freedom Credit Union.
A Pennsylvania Court has authorized your Notice. It is not a solicitation from a lawyer. You are not being sued.
- This settlement resolves a lawsuit over whether Freedom Credit Union (“Freedom”) sent borrowers proper notice of their rights after vehicle repossession.
- Freedom denies and disputes the claims asserted in the Litigation. The parties disagree about whether any money (and if so, how much) could have been awarded to you if the Plaintiff were to prevail at trial. The settlement avoids the costs and risks to members of the Class like you from continuing with the lawsuit and provides relief to the Class.
- This settlement will: (a) provide a gross fund of $1,700,000 to be distributed to Class Members after payment of administrative costs, Class Counsel fees and costs, and a service award to Plaintiff; (b) eliminate disputed Deficiency Balances of approximately $2,736,000; and (c) require Freedom to request credit reporting agencies to delete your auto loan history from your credit report, in accordance with the proposed Class Action Settlement Agreement.
- Your rights are affected whether you act or not. Read your notice carefully.
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Your Legal Rights and Options in this Settlement: |
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Do Nothing |
If the settlement is approved by the Court as presented, any post-auction deficiency balance will be eliminated unless you got your vehicle back, and Freedom will request the credit reporting agencies to delete your auto loan trade line from your credit report. You will also be paid a proportionate share of the net settlement proceeds. Your specific amount can be found on the class notice mailed to you. |
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Exclude Yourself |
Get no payment. This is the only option that allows you to ever be part of any other lawsuit against Freedom concerning repossession or financing of your vehicle. Act by July 28, 2023. |
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Object |
Write to the Court about why you don’t like the settlement and do not want it approved. Act by July 28, 2023. |
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Go to a Hearing |
Ask to speak in Court about the fairness of the settlement on September 14, 2023, at 10:00 a.m. |
- These rights and options – and the deadlines to exercise them – are explained in your notice and in the Frequently Asked Questions.
- The Court in charge of this case still has to decide whether to approve the settlement. Payments will be made if the Court approves the settlement and after any appeals are resolved. Please be patient.
For more information, review the Important Court Documents.