Carolina Lease Management Group $1M Debt Collection Settlement

Individuals who entered a rent-to-own agreement for a storage building with Carolina Lease Management Group, and the company attempted to collect payments from them on or after April 8, 2017, up to and including March 9, 2018, may be eligible to receive a cash payment from a class action settlement.

Carolina Lease Management Group LLC has agreed to pay $1,001,671.13 to settle a class action lawsuit for alleged violations of North Carolina’s Retail Installment Sales Act, Unfair Trade Practices Act, and Debt Collection Act. The class action claims the company overcharged consumers and engaged in improper collection practices related to rent-to-own storage building contracts.

Who is eligible to receive a class action payout?

Class members must meet all of the following criteria:

• They entered into a rent-to-own agreement for a storage building with Carolina Lease Management Group, LLC.
• The company attempted to collect payments from them on or after April 8, 2017, up to and including March 9, 2018.
• They lived in North Carolina during the qualifying period.

What will the settlement payment be?

Pro rata cash payment determined by:

• The total amount the class member paid to Carolina Lease Management Group between April 8, 2017, and March 9, 2018, under their rent-to-own contract.
• The total amount paid by all class members during the same period.

No claim form required

Class members do not need to submit a claim form to receive payment.

Payment options

• Class members can select an electronic payment option online using the Notice ID and PIN from their settlement notice.
• The deadline to elect an electronic payment method is Jan. 22, 2026.

• Class members that do not submit an electronic payment method will receive a check mailed to the address one file with Carolina Lease Management Group.
• Class members can submit updated address information on the settlement website using the Notice ID and PIN from their settlement notice.

$1 Million debt collection settlement fund

The settlement fund of $1,001,671.13 will include:

• Settlement administration costs: To be determined
• Attorneys' fees: Up to $330,551.47
• Attorneys' expenses: To be submitted to the court for approval at a later date
• Service award to class representative: $10,000
• Payments to class members: Remaining settlement funds

Important dates

• Opt-out deadline: Jan. 7, 2026
• Final fairness hearing: Jan. 22, 2026, at 10 a.m.
• Deadline to update payment method: Jan. 22, 2026

When is the Carolina Lease Management Group settlement payout date?

Payments will be issued to class members approximately 63 days after the settlement is granted final approval.

Why was there a debt collection class action settlement?

The class action lawsuit alleged that Carolina Lease Management Group violated North Carolina’s Retail Installment Sales Act, Unfair Trade Practices Act, and Debt Collection Act by charging excessive amounts and engaging in improper collection practices on rent-to-own storage building contracts. The company denied any wrongdoing but agreed to settle to avoid the risk and expense of continued litigation.

Sources

1. Class notice
2. Official settlement website FAQ page
3. Settlement agreement