How much will I get from Santander lawsuit?
According to an article in The Wall Street Journal, the settlement will include $65 million that will go directly to consumers and $433 million which will go towards loan forgiveness, including funds for customers who have had their cars repossessed but still owe money to Santander.
Do I qualify for the Santander settlement?
Who qualifies? You must have a gotten a loan with Santander between January 1, 2010 and December 31, 2019 and Santander must have given you a certain internal score at the time you got the loan. Consumers will NOT know their own internal score.
What is a multistate Santander settlement?
The settlement, in which 33 states participated, resolves allegations that Santander violated consumer protection laws by making auto loans accessible to disadvantaged borrowers who had a high probability of defaulting.
Why did I get a check from Santander Consumer USA?
Payments were issued to consumers where our records show the postcard was presumed to be delivered, or where the consumer updated their address and/or selected a payment method through the Settlement website.
Does Santander own Chrysler Capital?
Chrysler Capital is known for its innovative technology and dedication to helping more consumers purchase Chrysler, Dodge, Jeep®, RAM SRT and FIAT® vehicles. Chrysler Capital is a trademark of Chrysler Group LLC and licensed to Santander Consumer USA Inc.
Is there a lawsuit against Santander?
34 states, including Indiana, Kentucky and Illinois filed a lawsuit against Santander Consumer USA, the nation’s largest auto financing company. The settlement was reached last year, after the company violated protection laws by making auto loans accessible to borrowers who were likely to default on those loans.
What is a multistate settlement?
Multistate litigation includes any coordinated litigation among two or more attorneys general against the same defendants. The most well-known multistate litigation settlement is the Master Settlement Agreement between the attorneys general and several large tobacco companies.
Can I sue Chrysler Capital?
Sure; in America you can sue anybody for anything at any time, without a lawyer in small claims court. Winning the lawsuit is another matter, especially if you do not have any actual damages.
What is the late fee for Chrysler Capital?
5%
Late fees vary drastically by loan, the minimum late fee we’ve encountered was 5% of the monthly payment amount. However, we strongly advise not to take advantage of Chrysler Capital’s grace period unless you have an emergency.