Avid Acceptance $325,000 Vehicle Repossession Settlement

Consumers whose vehicle Avid Acceptance LLC repossessed and sold in Ohio after Oct. 13, 2016, and who had a balance remaining on their account may be eligible to receive a cash payment or have their deficiency balance eliminated through a class action settlement.

Avid Acceptance LLC agreed to pay $325,000 to resolve a class action lawsuit alleging it sent post-repossession notices to Ohio consumers that did not comply with state law.

Who are the class members?

Class members must meet all of the following criteria:

• They purchased a motor vehicle in Ohio primarily for personal, family or household use by entering into a retail installment sales contract.
• Avid Acceptance LLC managed their contract.
• Avid repossessed the vehicle or the class member voluntarily surrendered it in Ohio.
• They received one or more post-repossession notices by or on behalf of Avid between Oct. 13, 2016, and April 30, 2025, in connection with the repossession and sale of their vehicle.
• A balance remained on their account after the sale of their vehicle.

There are two subclasses based on payment history after repossession:

• Deficiency balance subclass: Class members who did not pay more than $25 toward their account after Avid repossessed and sold their vehicle
• Deficiency payment subclass: Class members who paid more than $25 toward their account after Avid repossessed and sold their vehicle

Each person can only be a member of one subclass. According to Avid’s records, there are 995 members in the deficiency balance subclass and 33 members in the deficiency payment subclass.

Who is excluded from the class?

Individuals are excluded if:

• They already reached an agreement with Avid regarding payment or balance reduction after repossession.
• They are subject to an existing release or judgment covering the claims in this lawsuit.
• They redeemed their vehicle after repossession during the relevant period.
• They filed for bankruptcy after buying the vehicle and received a discharge.
• They are a debtor in a pending bankruptcy.
• They submit a timely and valid request for exclusion (opt-out) by March 4, 2026.

How much can class members get?

• Deficiency balance subclass:
• Avid will waive its right to collect any remaining balance on their account, reducing their balance to $0.
• They will no longer owe any money to Avid for the deficiency balance after Avid repossessed and sold their vehicle.

• Deficiency payment subclass:
• They will receive a cash payment via check for the total amount they paid toward their account after Avid repossessed and sold their vehicle (if this amount is greater than $25).
• In addition, Avid will waive any remaining balance, reducing their account to $0.
• The total monetary relief available for the deficiency payment subclass is capped at $35,000. If total eligible claims exceed this amount, the settlement administrator will reduce payments proportionally (pro rata).

Additionally, Avid will request that the major credit reporting agencies (Equifax, Experian and TransUnion) delete any reference to deficiency balances for affected accounts.

No action needed to receive compensation

Class members do not need to file a claim to receive compensation. Those identified as class members will automatically receive their applicable benefits once the court resolves any appeals and approves the settlement.

Class members whose addresses have changed should notify the settlement administrator to ensure they receive payment and provide their full name, previous and current addresses and notice ID.

Settlement administrator's contact information: Avid v Smith Settlement, c/o Settlement Administrator, PO Box 23459, Jacksonville, FL 32241, info@avidsmithsettlement.com

Those who need to change their payee name due to marriage, divorce or death must provide the appropriate legal documentation to the settlement administrator by email or mail.

Payout options

• The settlement administrator will mail checks to eligible class members in the deficiency payment subclass. They must cash the checks within 180 days.
• Avid will apply balance eliminations for all eligible class members.

$325,000 settlement fund breakdown

The $325,000 settlement fund covers the following:

• Settlement administration costs: To be determined
• Attorneys’ fees and expenses: Up to $279,701
• Service award to class representative: $25,000
• Payments to deficiency payment subclass members: Up to $35,000

Avid will also waive more than $8.3 million in deficiency balances for class members.

Important dates

• Deadline to opt out: March 4, 2026
• Final approval hearing: March 18, 2026

When is the Avid Acceptance LLC v. Aria C. Smith payout date?

The settlement administrator will issue payments and balance eliminations approximately 30 days after the court resolves any appeals and grants final approval to the settlement.

Why is there a class action settlement?

The class action lawsuit alleged Avid Acceptance LLC sent post-repossession notices to Ohio consumers that did not comply with state law.

Both sides agreed to settle to avoid the uncertainty, expense and risk of continued litigation. The settlement provides cash payments and debt relief to affected consumers without requiring them to prove their claims in court.

Sources

1. Class notice
2. Settlement FAQ
3. Settlement agreement
4. Key dates