On March 3, 2011, in Selimi v. Mission Federal Credit Union, San Diego Superior Court Case No. 37-2009-00086697-CU-CO-CTL, Judge John Meyer granted preliminary approval of a class action settlement.  Rosner, Barry & Babbitt, LLP’s Auto Fraud Legal Center filed a lawsuit on behalf of Mr. Selimi and class of consumers against Mission Federal Credit Union alleging that the notices that Mission Federal Credit Union had sent to individuals after their vehicles were repossessed did not comply with the Automobile Sales Finance Act.

The class includes any individuals who (1) purchased a car from a car dealer in California by signing a purchase contract, (2) had that purchase contract financed by Mission Federal Credit Union,  (3) had their car repossessed by Mission Federal Credit Union, (4) between June 1, 2007 and October 5, 2010, received a post repossession notice from Mission Federal Credit Union, and (5) did not pay to get their car back.

If you are a member of the class, and do not opt out of the settlement, you will receive the following:

1.  Forgiveness of any balance owed after the sale of your car.

2.  Deletion of the trade line for your account from your credit report

3.  Refund of any monies you paid to Mission Federal Credit Union after the repossession and sale of your car.

The size of class is estimated to include 1,000 individuals.  The total amount of the balances to being forgiven is expected to be over $10,000.000.  Between 200 to 300 class members will receive refunds for monies that they paid after the repossession and sale of their cars.  The total amount to be refunded is approximately $332,000.00.

Notice of this proposed class settlement will be mailed by the end of March 2011.

If you have any questions about this settlement you can contact Greg Babbitt at 858-348-1005, ext 104, or email to greg@rbblawgroup.com.