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Twenty-First Judicial Circuit Court Court FOR St. Louis COUNTY, Missouri
If you owned property repossessed by General Credit Acceptance Company, you could get valuable benefits from a class-action settlement.
A court authorized this notice. This is not a solicitation from a lawyer.
- You may be eligible to participate in a settlement with benefits, including money, for all persons who had a consumer agreement with General Credit Acceptance Company (“GCAC”) and who had their property repossessed and sold by GCAC after May 12, 2008.
- The settlement resolves a lawsuit over whether GCAC sent proper presale or post-sale notices to you in connection with attempting to collect your loan and repossessing and selling your property. This settlement avoids costs and risks to you from the lawsuit; provides benefits to borrowers like you; and releases GCAC from liability.
- The two sides disagree on whether the borrowers could’ve won and on how much money they would’ve been entitled to had they won.
- Your legal rights are affected whether you act or don’t act. Read this notice carefully.
- Consult your tax adviser about the tax issues associated with this settlement. Relief provided under this settlement, including money and debt reduction, may be subject to tax.YThe Court must still decide whether to approve the settlement. Money will be provided if the Court approves the settlement and after any appeals are resolved. Please be patient.
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Your Legal Rights and Options in this Settlement |
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Do Nothing |
By doing nothing, you will receive certain benefits that come from the settlement, including money. But you give up rights to separately sue GCAC about the same legal claims asserted. |
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Exclude Yourself |
Get no money or benefits. This is the only option that allows you to ever be part of any other lawsuit against GCAC about the legal claims. |
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Object |
Write to the Court about why you don’t like the settlement. |
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Go to a Hearing |
Ask to speak in Court about the fairness of the settlement. |
- These rights and options—and the deadlines to exercise them—are explained in this notice.
- The Court must still decide whether to approve the settlement. Money will be provided if the Court approves the settlement and after any appeals are resolved. Please be patient.