These debts will not be reported to a credit reporting agency and any reports associated with these debts will be withdrawn.Īs part the settlement, loans purchased by National Credit Adjusters from Great Plains, Plain Green (prior to June 1, 2016), and MobiLoans (prior to May 6, 2017) will be cancelled. The settlement provides debt cancellation benefits and loans purchased by National Credit Adjusters from Great Plains, Plain Green (prior to June 1, 2016), and MobiLoans (prior to May 6, 2017) will be cancelled. The defendants have not admitted any wrongdoing but have agreed to pay more than $57 million to resolve the claims against them. Despite the companies’ arguments that the high interest rate scheme was permitted under tribal law, plaintiffs in a class action lawsuit argued that these rates violated state limits. Unfortunately for borrowers, these companies allegedly originated loans with excessive interest rates. Great Plains, Plain Green, and MobiLoans are all owned by Native American tribes but provided financial services through companies such as Think Finance. The high interest rate settlement benefits individuals who had a loan from Great Plains Lending, a loan from Plain Green before June 1, 2016, and/or a cash advance pursuant to a line of credit from MobiLoans before May 6, 2017. The settlement provides cash payments based on the amount of principal interest paid by each Class Member.

Let Top Class Actions know when you receive a check in the comments section below or on our Facebook page.Ī high interest rate settlement worth more than $57 million has been reached to resolve claims that Great Plains Lending and other lenders violated interest laws.

The Great Plains High Interest Class Action Settlement was granted final approval on March 29, 2021.

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