CRAs Settle in Class Action Lawsuit for FCRA Violations!

[chane]

There is a proposed settlement with TransUnion LLC, Experian Information Solutions, Inc., and Equifax Information Services LLC ("Defendants") in a class action lawsuit about whether they violated the Fair Credit Reporting Act ("FCRA") and state laws when reporting debts that had been discharged in bankruptcy as not discharged, whether Defendants conducted proper investigations of consumer disputes regarding such debts, and whether consumers were damaged as a result. The Settlement will provide payments of damage awards from a $45 million settlement fund. If you qualify, you may send in a claim form to get benefits, or you can exclude yourself from the Settlement, or object to it.

The lawsuit alleges that the Defendants violated the FCRA and related state laws by incorrectly reporting debts discharged in bankruptcy on credit reports. The Court did not decide which side was right. But both sides agreed to the Settlement to resolve the case and get benefits to customers.

Before any money is paid, the United States District Court for the Central District of California ("the Court") will have a hearing to decide whether to approve the Settlement.

Who Is Included in the Settlement Class?

You are a Class Member eligible for benefits if you received a Chapter 7 Bankruptcy order of discharge and you have had a credit report issued by a Defendant between March 15, 2002 and May 11, 2009 (or, for California residents in the case of TransUnion, between May 12, 2001 and May 11, 2009) that contained debts, accounts, judgments, or other obligations discharged in your bankruptcy that were not reported as discharged.

How Do You Ask for a Payment?

To make a claim you may file online mail the form to the Settlement Administrator at: White, et al. v. Experian Information Solutions, Inc., c/o The Garden City Group, Inc., P.O. Box 9517, Dublin, OH 43017-4817. Claim forms are due and must be postmarked no later than November 30, 2009.
What Are Your Other Options?

If you do not want to be legally bound by the Settlement, then you must exclude yourself or opt out, by November 30, 2009, or you won't be able to sue, or continue to sue, Defendants about the legal claims in this case. If you exclude yourself, you can't get money from this Settlement. If you decide not to exclude yourself from the Settlement, one option you have is to object to the Settlement if you are dissatisfied with its terms. The detailed notice explains how to exercise this option.

Final Fairness Hearing

The Court is scheduled to hold a Final Fairness Hearing at 8:30 a.m. on January 11, 2010, at the United States District Court for the Central District of California, Santa Ana Courthouse, Ronald Reagan Federal Building and U.S. Courthouse, 411 West Fourth Street, Courtroom 9D, Santa Ana, California, 92701. At the Final Fairness Hearing, the Court will consider whether the Settlement is fair, reasonable, and adequate and should be granted final approval. If there are objections, the Court will consider them. Class Counsel will also ask the Court for approval of their request for attorneys' fees, costs, expenses, and incentive awards to Class Representatives. The fees and costs will come out of the Settlement Fund. You may ask to appear at the hearing if you send in a "Notice of Intent to Appear" by November 30, 2009, but you do not have to appear in order to get benefits under the Settlement.

Please note the following important dates:

Date / Case-Related Event
November 30, 2009 Request for Exclusion/Opt Out Deadline (postmarked)
November 30, 2009 Objection Deadline (postmarked)
November 30, 2009 Claim Form Deadline (postmarked or submitted online)
January 11, 2010at 8:30 a.m. Final Fairness Hearing

[Trish]

Nice! :thumbup:

[CreditCrisis]

thanks for the info Chane!

[lhsouthern1988]

any news on the results of the final fairness hearing? THe number from the website has no useful information.

[tmdelisle]

Yeah, I'm a member of this lawsuit; I'd love to find out ASAP.