If you borrowed money from certain LDF Lending Companies between July 24, 2016 and October 1, 2023, you could benefit from a $1.4 billion loan cancellation and a $37.35 million cash settlement fund.
The lawsuit claimed that LDF Holdings and its lending companies charged interest rates above state limits and sometimes operated without a proper license. While the companies deny wrongdoing, they agreed to a nationwide settlement.
Why is there a lawsuit?
Borrowers alleged that the loans were illegal, deceptive, or unfair because they carried interest rates exceeding state laws. In many cases, consumers were paying far more than they legally should have owed. The settlement resolves these claims while also canceling outstanding balances for many borrowers.
Who qualifies?
You’re included if you:
Took out a loan from an LDF Lending Company between July 24, 2016 – October 1, 2023
The list of companies includes Lendgreen, LendUMo, Zfunds, Makwa Financial, Brightstar Cash, National Small Loan, Bear Claw Lending, Sky Trail Cash, Loan at Last, Nine Torches, Bridge Lending Solutions, Lakeshore Loans, UbiCash, Cash Aisle, MitigCapital, Avail Blue, Evergreen Services, Blue River Lending, Quick Help Loans (Greenline), and Radiant Cash
How much can people get?
The settlement provides two major benefits:
Debt Cancellation: About $1.4 billion in loans will be wiped out. If your loan is unpaid, you may no longer owe anything.
Cash Payments: A $37.35 million fund will be split among borrowers who paid interest over legal state limits. Payment amounts depend on how much you repaid.
No claim form or proof required. Eligible borrowers will automatically receive benefits.
What Are Your Options?
| Option | What It Means |
|---|---|
| Do Nothing | Stay in the class, get debt relief and/or a cash payment |
| Exclude Yourself | Keep the right to sue separately, but lose settlement benefits |
| Object | Tell the court why you disagree with the settlement |
Important Dates
Exclusion/Objection Deadline: October 29, 2024
Final Approval Hearing: December 13, 2024
Final Approval Granted: December 17, 2024
Effective Date: January 16, 2025
Payments Sent: Within 60 days after January 16, 2025
How to File a Claim
You don’t need to file a claim. Payments will be mailed automatically to eligible class members.
If you want to review your status or award estimate, visit the Official Settlement Website and enter your Notice ID and PIN from your notification.
