ASHLEY NOBLE v. VALUE FINANCE, INC. Settlement

The Court approved this notice because you have a right to know about a proposed settlement of a class action lawsuit, and about all of your options, before the Court decides whether to approve the settlement. If the Court approves it, and objections and appeals (if any), are resolved, the Settlement Administrator will make the payments the settlement allows.

The Court in charge of the case is the Court of Common Pleas of Indiana County, Pennsylvania, and the case is known as Ashley Noble, individually and on behalf of all others similarly situated, v. Value Finance Inc., formally known as Cambria Thrift Consumer Discount Company, No. 10916 CD 2022.  The person suing is Ashley Noble, the Plaintiff (also called “Class Representative”) and the company being sued, Value Finance Inc., formally known as Cambria Thrift Consumer Discount Company, is called the Defendant, or “Value Finance.”

This package explains the lawsuit, the settlement, your legal rights, what benefits are available, who is eligible, and how to get them.

Value Finance’s records reflect that you and any co-borrower on your vehicle loan were sent a notice from Value Finance following the repossession of your vehicle between February 6, 2013, through June 5, 2021.  Value Finance’s conduct post-repossession, including its use of these notices, forms the basis for this lawsuit.

The lawsuit claims that Value Finance violated Pennsylvania law by failing to send its borrowers in Pennsylvania proper notice after repossessing and reselling their vehicle(s).  Specifically, Plaintiff asserts on behalf of herself and a class of borrowers that the notices sent by Value Finance failed to contain disclosure required under Pennsylvania law.

Value Finance denies that its notices violated any law, and Value Finance asserts that it satisfied all of the legal requirements as to its notices.  Value Finance asserts other defenses.   Value Finance further contends that many of the members of the Class owe Value Finance money for balances still due on their accounts following the sale of their repossessed vehicle(s) at auction.

In a class action, one or more people called Class Representatives (in this case Ashley Noble) sue on behalf of all people who have similar claims.  All these people are “Class Members,” and grouped together are a “Class.”  One court resolves the issues for all Class Members, except for those who exclude themselves from the Class.  Value Finance has challenged whether this case should proceed as a class action but has agreed not to oppose this case proceeding as a class for settlement purposes only.

Plaintiff believes the Class might have won more money than the settlement amount had the case gone to trial, but substantial delays and risks would have occurred, including the risk of the case not being certified as a class. Value Finance believes that the claims asserted in the case are without substantial merit, and that the Plaintiff may have recovered nothing if there had been a trial. But, there has been no trial.  Instead, both sides agreed to a settlement. That way, they avoid the cost of a trial and appeal, and class members like yourself will get compensation and other settlement benefits promptly. The Class Representative and her attorneys think the settlement is best for all Class Members.

If you received this Notice in the mail, Value Finance’s records reflect that you are part of the Class.  The Court has preliminarily certified the Class, which includes those borrowers who were sent notices after their vehicle was repossessed in the period commencing February 6, 2013, through June 5, 2021.

·         Cash Component: 

o   Value Finance has agreed to create a Settlement Fund of $350,000.00.  Approved administrative costs, Class Counsel fees and expenses, and a service award for the Class Representative will be paid from that fund.  The Net Fund that remains will be distributed to the members of the Classes.  

o   If fees and expenses are allowed as requested, it is expected that your cash payment will be the amount stated on the first page of the letter sent to you, unless there were multiple borrowers on your loan in which case you will receive a portion of this amount. This amount will be sent to you by check unless you promptly contact the Settlement Administrator at [email protected] to request one of the other available payment methods it offers.

o   If after the first distribution to the Class more than $35,000 remains in the Net Fund (typically from uncashed or undistributable checks), there will be a second distribution to the Class. A balance remaining after the second distribution will be paid to the cy pres beneficiaries Pennsylvania Interest on Lawyers Trust Account (“IOLTA”) and Summit Legal Aid for consumer uses.

·         Credit Reporting Relief:  Value Finance will request that the credit reporting agencies update your credit report to remove any reference to the auto loan account with Value Finance.  Details about how and when this will be done, and limits on Value Finance’s obligation to provide credit reporting relief are spelled out further in the Settlement Agreement.

Elimination of disputed Deficiency balances:  If you have been advised by Value Finance that there is a shortfall after the auction of your repossessed vehicle, that balance claimed due is called a “Deficiency” or “Deficiency Balance.”  Value Finance’s right to these Deficiency Balances is disputed by the parties.  Your Deficiency Balance on your vehicle loan will be eliminated as a result of this settlement.  The average Deficiency Balance claimed due is around $3,700.  Yours could be more or less than this amount.  If you want to know if you have any Deficiency Balance or the amount, you can call Class Counsel at (888) 668-1225.

This settlement has potential tax implications for you.  The Settlement Administrator plans to issue IRS 1099-series forms for cash payments over $600. You may be required to furnish your Social Security Number to the administrator as a condition of payment of settlement proceeds over $600.  

The elimination of your disputed Deficiency Balance could also have tax implications, as cancellation of indebtedness can be considered income by tax authorities. You should consult your tax advisor for questions.

No. You do not need to do anything further to remain in the Class.  You will get a payment and any credit reporting benefit automatically, assuming court approval of the Settlement.

No. Any outstanding debt remaining after the auction of your repossessed vehicle will automatically be eliminated upon final approval of the settlement by the Court.

The Court will hold a hearing on September 10, 2024 at 8:30 A.M. at Court of Common Pleas of Indiana County, 825 Philadelphia St, Indiana, PA, 15701 to decide whether to approve the settlement.  If the Court approves the settlement after hearing, there may be appeals.  It is always uncertain whether there will be an appeal and if so, when it will be resolved. Resolving an appeal can take time, often well more than a year.  Please be patient.

Unless you exclude yourself, you will stay in the Class, and that means that you can’t sue, continue to sue, or be part of any other lawsuit against Value Finance related to your repossessed motor vehicle.  It also means that the Court’s orders will apply to you and legally bind you.  Unless you “opt-out” or exclude yourself from this case, you will automatically be deemed to have agreed to a “Release of Claims” which describes exactly the legal claims that you give up if you remain in the Class. The specific language of the release is set forth in the Settlement Agreement, which can be found in the Important Court Documents section.

To exclude yourself from the settlement, you must send a letter to the Settlement Administrator, with copies to counsel, by mail (first class, postage pre-paid) saying that you, as well as any and all other person(s) who signed your vehicle loan, want to be excluded from Ashley Noble, individually and on behalf of all others similarly situated v. Value Finance, Inc., No. 10916 CD 2022.  Be sure to include your name, address, email (if available), telephone number and your signature.  Mail your exclusion request postmarked no later than July 5, 2024 to all of three different addresses below.

No.  Unless you exclude yourself, you give up any right to sue Value Finance for the claims that this settlement resolves.  If you have a pending lawsuit, speak to your lawyer in that case immediately.  You must exclude yourself from this Class to continue your own lawsuit.

No.  If you exclude yourself, you will not receive any money from this lawsuit or settlement, credit report deletion, elimination of any disputed Deficiency Balance, or other relief that this Class Settlement provides.

The Court has approved the law firm of Flitter Milz, P.C., in Narberth, PA to represent you and other Class Members.  The lawyers at this firm are called Class Counsel.  You will not be charged individually for these lawyers.  If you want to be represented by your own lawyer, you may hire a firm at your own expense.

As part of the class settlement, Plaintiff will ask the court to approve a $12,500 service award for her time and effort in bringing this case.  Plaintiff will ask the Court to approve a payment out of the settlement fund in the amount of $140,000 for Class Counsel fees and up to $7,500 for reimbursement of expenses.  The fees would pay Class Counsel for investigating the facts, litigating the case, negotiating the settlement, filing legal papers with the Court, and oversight of future implementation of the settlement, including fielding inquiries from Class Members.  Class Counsel has not been paid for its time or services since this case was originally filed in April 2021.  The Court could award less than this amount.

If you are a Class Member, you can object to the settlement if you don’t like any part of it.  You should state why you object and why you think the Court should not approve the settlement.  The Court will consider your views.  To object, you must file an objection, or send a letter saying that you object to the settlement in Ashley Noble, individually and on behalf of all others similarly situated v. Value Finance, Inc., No. 10916 CD 2022.  Please be sure to include your name, address, email address (if available), telephone number, your signature, and the reasons you object to the settlement.  Mail the objection to all of the three different places listed in Section 12 above, postmarked no later than July 5, 2024, and file with the Court of Common Pleas of Indiana County, 825 Philadelphia St, Indiana, PA 15701.

Objecting is telling the Court that you don’t like something about the settlement, and that you, for that reason, want the settlement not to be approved.  You can object only if you stay in the Class.  Excluding yourself is telling the Court that you don’t want to be part of the Class.  If you exclude yourself, you have no basis to object because the case no longer affects you.

The Court will hold a Fairness Hearing on September 10, 2024 at 8:30 A.M. at the Court of Common Pleas of Indiana County, 825 Philadelphia St, Indiana, PA 15701.  At this hearing, the Court will consider whether the settlement is fair, reasonable, and adequate and meets the test for class action settlements.  If there are objections, the Court will consider them. The Court will listen to people who have asked to speak at the hearing.  The Court may also determine the Class Representative Service Award and Class Counsel fees and expenses.  Following the hearing, the Court will decide whether to approve the settlement.  We do not know how long these decisions will take.

No.  Class Counsel will answer any questions the Court may have.  But you are welcome to come at your own expense.  If you file an objection, you don’t have to come to Court to talk about it, but you may.  As long as you properly mailed (or electronically filed) your written objection on time, the Court will consider it.  You may also pay your own lawyer to attend, if you wish.

You may ask the Court for permission to speak at the Fairness Hearing.  To do so, you or your lawyer must send a letter stating that it is your “Notice of Intention to Appear in Ashley Noble, individually and on behalf of all others similarly situated v. Value Finance, Inc., No. 10916 CD 2022.”  Your Notice of Intention to Appear must be filed or mailed so as to be filed with the Court no later than July 5, 2024 and be sent to the Court of Common Pleas of Indiana County, 825 Philadelphia St, Indiana, PA 15701, Class Counsel, Defense Counsel, and the Settlement Administrator at the addresses set forth in Section 12.  You cannot speak at the hearing if you exclude yourself from the settlement.

If you do not exclude yourself and the Court finally approves the settlement, you will receive a settlement payment(s), elimination of your disputed Deficiency Balance (if any), and credit reporting relief as provided in the Class Action Settlement Agreement.

This notice summarizes the proposed settlement.  The pleadings and other records in this litigation, including a copy of the Settlement Agreement, may be examined at any time during regular office hours at the Court of Common Pleas of Indiana County, 825 Philadelphia St, Indiana, PA 15701.  These documents will also appear in the Important Court Documents section.

You may also call or write to the following:

Noble v. Value Finance
c/o Settlement Administrator
PO Box 23309
Jacksonville, FL 32241
(888) 766-7516
[email protected]

Or

Class Counsel
FLITTER MILZ, P.C.
450 N. Narberth Avenue, Suite 101
Narberth, PA 19072
1-888-668-1225

Please do not call the Court, Value Finance, or Value Finance’s counsel.