Dynamic Accident Lawyers: Miller Investment Group Class Action Settlement

lawsuit settlement

Miller Investment Group (MIG) has agreed to settle a class action lawsuit over allegations it improperly repossessed the property of some borrowers and/or buyers who had a loan or financing agreement with MIG. If you had a consumer loan agreement directly with MIG (or a consumer loan that was assigned to MIG) for a loan used to purchase property repossessed by MIG, you may be entitled to benefits from the class action settlement.

If approved, the MIG settlement will resolve allegations that borrowers received notices before and after their property was repossessed did not comply with Missouri law and the Uniform Commercial Code.

Under the terms of the proposed property repossession class action settlement, Miller Investment Group will offer compensation to eligible Class Members and will attempt to remove negative information from Class Members’ credit reports related to the collections at issue in the litigation. In addition, MIG will no longer seek to collect money it claimed Class Members owed after MIG repossessed property, and will write off judgments that were secured against Class Members in court regarding the deficiency balances.

The class action settlement received preliminary approval on Dec. 22, 2015.

Class Members who wish to exclude themselves from or object to the MIG settlement must do so no later than Feb. 12, 2016.

Who’s Eligible

Class Members of the property repossession settlement include: “all persons (a) who are named as borrowers or buyers on a loan financing agreement with MIG or assigned to MIG; (b) whose loan or financing agreement was secured by collateral; (c) whose collateral was repossessed or voluntarily surrendered; and (d) whose collateral was disposed of from Jan. 10, 2008 to April 21, 2015.”

If you are not sure whether you are included as a Class Member in the Miller Investment Group settlement, contact the Settlement Administrator.

Potential Award

Up to $107.74.

Each Class Member who submits a timely and valid Claim Form will be eligible to receive a cash payment. The amount will depend on the total number of claimants, the amount of money you borrowed, and the interest rate on your loan. If every eligible Class Member files a claim, the average payment will be $48.96.

The minimum payment to claimants will be $10.29.

In addition, MIG has agreed to provide the following benefits to Class Members after the effective date of the class action settlement:

Deficiency Write-Off: MIG will no longer seek to collect money it claimed you owed after it repossessed property under the claim that you breached your contract with MIG.
Judgment Write-Off: MIG will file satisfactions of judgment documents with the courts to inform them that the judgments have been satisfied and eliminated. This benefit applies to Class Members against whom MIG obtained money judgments in court regarding deficiency balances.
Credit Bureau Reporting: MIG will use its best efforts to remove negative information from Class Members’ credit reports with Equifax, Experian and TransUnion related to the collections and associated deficiency balances and judgment write-offs.

Proof of Purchase

N/A. Class Members must assert that they (or someone for whom they were an authorized representative) were a borrower or buyer on a consumer loan entered into with Auto Now or Miller Investment Group (or assigned to them), and that their property was repossessed and sold or otherwise disposed of during the period ranging from Jan. 10, 2008 through April 21, 2015.

Claim Form

CLICK HERE TO FILE A CLAIM (PDF) »

Claim Form Deadline

7/12/2016

Case Name

Miller Investment Group, Counterclaim-Defendant v. Quenton Shelby, Counterclaimant, Case No. 1216-CV24936, in the Sixteenth Judicial Circuit Court of Jackson County, Missouri

Final Hearing

3/4/2016

Settlement Website

www.MIGSettlement.com

Claims Administrator

MIG Settlement
c/o Dahl Administration
P.O. Box 3613
Minneapolis, MN 55403-0613
1-888-755-9508

Class Counsel

Martin L. Daesch
Jesse B. Rochman
ONDER SHELTON O’LEARY & PETERSON LLC

Defense Counsel

Richard N. Bien
Kent Sellers
LATHROP & GAGE LLP

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