AP Reports on Repo Violence
The AP has a report that repo violence is increasing. Repossession companies may not "breach the peace" or engage in violence, but the potential for violence is present as explained in the report.
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Posted On:
February 28, 2009
Posted On:
February 18, 2009
Fireside Bank Class Action Repossession Settlement Approved By Santa Clara Judge
Santa Clara Superior Court Judge Kleinberg preliminarily approved a class action settlement on February 10. The settlement class combines certified classes in two lawsuits, Gonzalez and Lind. It includes California residents whose cars were repossessed and to whom Fireside Bank sent notices of intent to dispose (NOIs) from May 2000 to October 2001 (Gonzalez), and also persons who received Fireside's NOIs dated October 2003 through October 2007 (Lind). The settlement administrator will send Class Notice explaining the settlement in more detail in a few weeks. Judge Kleinberg will conduct a final hearing on the proposed settlement on May 29, 2009 at 9:00 a.m. at the Santa Clara County Superior Court in San Jose.
Our law firm had contended that Fireside's NOIs did not comply with California law on vehicle repossessions. Therefore, we argued that persons to whom Fireside had sent those NOIs were not liable for any deficiency remaining after Fireside sold their repossessed vehicles and applied the sales proceeds to the contract. Both cases were hard-fought. Gonzalez even went to the California Supreme Court, which decided the case was properly certified as a class action. (You can look it up: see Fireside Bank v. Superior Court, 40 Cal.4th 1069 (2007)). But no court had ever decided the legal issue of whether Fireside's NOIs complied with California law. Before the court decided the legal issue, the parties agreed to resolve the two lawsuits.
Fireside has agreed to reduce the amout of any deficiency that settlement class members owe to zero. Also, it will instruct the three credit reporting agencies, Equifax, Experian and Trans Union, to delete their tradeline from class members' credit reports. Finally, class members who paid Fireside after thier cars were repossessed will get their money back. Gonzalez class members will recover 100% of the money they paid, while Lind class members will get back 90% of their money. About $4.5 million has been set aside to pay settlement class members.
If you think you fit the description of a settlement class member (see above) but Fireside already obtained a judgment against you, you are unfortunately not part of the settlement. Judge Kleinberg decided that he could not disturb the ruling of whatever courts entered the various judgments. But the issue of whether judgment debtors can re-open the circumstances of their judgments is now on appeal before the California Court of Appeal. The appeal may affect your rights in the future, but not for the present.
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