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Consumers who obtained a loan from LDF Business Development Corp., LDF Holdings LLC, Lendgreen, LendUMo, Zfunds, Makwa Financial, Brightstar Cash, National Small Loan, Bear Claw Lending and Stone Lake 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) or Radiant Cash between July 24, 2016, and Oct. 1, 2023, may be eligible to claim a cash payment from a class action settlement.
Vivus Servicing Ltd., AS 4finance Ltd., Mary Jo Walker, Mark Bettiol, MoneyLion Technologies Inc., Diwakar Choubey and Richard Correia agreed to pay $16.5 million to settle a class action lawsuit. The lawsuit alleged the defendants participated in the making and collection of online loans through the LDF lending companies at interest rates higher than allowed by state law. There are an estimated 1.4 million class members.
Who can file a claim?
Class members must meet all of the following criteria:
- They obtained a loan from any of the LDF lending companies listed above.
- They executed their loan agreement between July 24, 2016, and Oct. 1, 2023.
- They resided in the United States at the time of the loan.
Individuals who received a notice are class members.
How much can class members receive?
The amount a class member may receive depends on their state of residence at the time they took out the loan, the amount paid in principal and interest, and the total number of eligible claims. The settlement fund is $16.5 million, which the settlement administrator will distribute among eligible class members after deducting attorneys’ fees and costs, service awards and administrative costs.
- Tier 1 (principal repaid):
- If the class member lived in Arizona, Arkansas, Colorado, Connecticut, Idaho, Illinois, Indiana, Kansas, Kentucky, Massachusetts, Minnesota, Montana, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, South Dakota, Vermont, Virginia or Wisconsin and fully repaid the principal amount of the loan, they are eligible for a cash award equal to the total amount paid above the principal.
- Tier 2 (interest above legal limits):
- If the class member lived in Alabama, Alaska, California, Delaware, Florida, Georgia, Hawaii, Iowa, Louisiana, Maine, Maryland, Michigan, Mississippi, Missouri, Nebraska, North Dakota, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Washington, Washington, D.C., West Virginia or Wyoming and repaid the principal, they are eligible for a cash award equal to the amount paid in interest above their state’s legal limits.
- Tier 3 (Nevada and Utah):
- Class members who lived in Nevada or Utah are not eligible for a cash payment because these states have no interest rate restrictions.
If a class member did not make any payments on their loan, they will not receive a cash payment. Calculated awards must be $5 or more to qualify for payment.
No claim form required
If a class member cashed their check from the first LDF settlement (Fitzgerald v. Wildcat), they do not need to do anything to receive payment from this settlement.
If a class member was entitled to a payment in the first LDF settlement but did not cash their check, they must submit a request for payment to the settlement administrator. They can file a request for payment online, email the settlement administrator with “request for payment” in the subject line or mail their request to the settlement administrator.
Class members can update their address online or by emailing or mailing the settlement administrator.
Those submitting a request for payment or an address change online must provide the notice ID and PIN they received in their settlement notice.
Settlement administrator's mailing address: Bradby v Vivus (894), c/o Settlement Administrator, P.O. Box 23698, Jacksonville, FL 32241-3698.
Settlement administrator's email address: info@consumerloansettlement2.com
Payout options
The settlement administrator will mail checks to the address on file. Class members may also log in to the settlement website to potentially select an alternate form of payment.
$16.5 million settlement fund breakdown
The $16,500,000 settlement fund includes:
- Settlement administration costs: Amount not specified
- Attorneys’ fees and costs: Up to $5,500,000
- Service awards to class representatives: $10,000 each ($240,000 total)
- Payments to eligible class members: Remaining settlement funds
Important dates
- Deadline to opt out: Jan. 4, 2027
- Fairness hearing: Feb. 18, 2027
When is the Vivus Servicing payout date?
The settlement administrator will issue payments approximately 90 days after the court resolves any appeals and grants final approval to the settlement.
Why is there a class action settlement?
This settlement claimed the defendants participated in making and collecting online loans through the LDF lending companies at interest rates higher than allowed by state law. The plaintiffs alleged the defendants worked with the LDF lending companies and others to violate federal and state lending laws.
The defendants denied any wrongdoing but agreed to settle to avoid the expense and uncertainty of further litigation.
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