If you owned property repossessed by Alltru Federal Credit Union (f/k/a 1st Financial Federal Credit Union), you could get valuable benefits from a class-action settlement.
- You may be eligible to participate in a settlement with benefits, including money, the cancellation ofcertain debts, and the deletion of certain negative credit information from credit reports for all personswith a secured collateralized loan or financing agreement with Alltru Federal Credit Union (f/k/a 1stFinancialFederalCreditUnion)(“Alltru”)wherethecollateralwasrepossessed,andtowhom,fromJuly3, 2013, until June 18, 2018, Alltru mailed a presale notice stating “will or will not, as applicable” or apost-salenotice.
- The settlement resolves a lawsuit over whether Alltru sent proper notices to you in connection withattempting to collect your loan and repossessing and selling your property.This settlement avoids costsand risks to you from the lawsuit; provides benefits to borrowers like you; and releases Alltru fromliability.
- The two sides disagree on whether the borrowers could have won and on how much money they wouldhavebeen 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 thissettlement,including money and debtreduction,maybesubjecttotax.
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YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT |
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DO NOTHING |
By doing nothing, you will receive the benefits that come from the settlement, including money. But you give up rights to separately sue Alltru 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 Alltru about the legal claims that are involved in this settlement. |
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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 and benefits will be provided if the Court approves the settlement and after any appeals are resolved. Please be patient.