Honda To Pay $2M, Clear $20M In Debt To End Repo Suit
Law360 (April 18, 2019, 2:07 PM EDT) -- Honda will pay $1.9 million and wipe out $19.8 million in deficiency balances owed by thousands of Massachusetts consumers who claim the company misled them about their rights when their cars were repossessed, then inflated the balances they owed after auction, according to a settlement agreement filed Wednesday in federal court.
More than 4,000 class members are expected to receive payments and have their loan balances eliminated under the terms of the deal, which got preliminary approval from U.S. District Judge Leo T. Sorokin Thursday.
"The agreement provides substantial benefits to the class of Massachusetts borrowers whose cars were repossessed by American...
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