California Repossession Law Blog

Many of you have called or emailed about Fireside Bank's repossession of your vehicle. You are hoping that you are included in our Fireside class action settlement. That settlement resulted in Fireside clearing class members' credit reports of Fireside's tradeline. The settlement also required Fireside to reduce class members' obligations to zero.

California law requires repossessing finance companies to exactly comply with the law when they send post-repossession notices of intent to dispose (NOIs). If the finance company makes a mistake, then the defaulting consumer does not owe any deficiency following the repossession sale. We reached the Fireside settlement because Fireside's NOIs from October 2003 to October 2007 did not comply with California law.

Fireside changed its NOIs in October 2007. Therefore, unfortunately the Fireside settlement class does not include consumers who received NOIs past October 2007.

Posted by Carol McLean Brewer | Permalink | Email This Post

Posted In:

Bookmark:

Fireside Bank settlement class members who made payments to Fireside after their vehicles were repossessed are entitled to a 90% refund of those payments. Checks were initially mailed several months ago. Most class members cashed or deposited their checks long ago.

If you received a settlement check from the Fireside Bank settlement but have not cashed your check, you must cash it or deposit it right away! Otherwise your check will go "stale" and you will not be able to cash it at all.

Also, if you are a Frieside Bank settlement class member and you paid Fireside after your car was repossessed, but you haven't received a settlement check, you must notify the settlement administrator right away! Please call Joni Brown at Rosenthal & Co, 415-798-5942, with your contact information.

Posted by Carol McLean Brewer | Permalink | Email This Post

Posted In:

Bookmark: