Think Finance Settlement Checks 2021: How Much Will I Get?

If you were a customer of Think Finance, a payday loan company that allegedly engaged in deceptive lending practices, you may be entitled to receive a settlement check in 2021. This article will provide you with all the information you need regarding the Think Finance settlement checks, including how much you can expect to receive and frequently asked questions about the settlement.

Think Finance, a company that operated under various names, including Plain Green, Great Plains Lending, and Mobiloans, faced allegations of charging exorbitant interest rates and fees on their payday loans. These practices allegedly violated state and federal laws, leading to a class-action lawsuit against the company. In October 2020, a settlement was reached, which established a fund of $39.7 million to compensate eligible customers.

Now, let’s address some frequently asked questions about the Think Finance settlement checks:

1. How much will I get from the settlement?
The exact amount each eligible customer will receive depends on various factors, including the total number of valid claims filed and the amount of money in the settlement fund. It is difficult to determine an exact figure until all claims have been processed.

2. How do I know if I am eligible for a settlement check?
If you were a customer of Think Finance, Plain Green, Great Plains Lending, or Mobiloans between January 1, 2009, and June 17, 2019, you may be eligible for a settlement check. Eligible customers will receive a notice with detailed instructions on how to file a claim.

3. How do I file a claim?
To file a claim for the Think Finance settlement, you need to submit a valid claim form either online or by mail. The claim form will be available on the settlement website, and you will need to provide necessary information, such as your contact details and loan history.

4. What is the deadline to file a claim?
The deadline to file a claim for the Think Finance settlement is typically 120 days after the notice of the settlement is mailed out. However, it is essential to check the official settlement website or the notice you receive for the exact deadline.

5. Will I need to provide any documentation with my claim?
In most cases, you will not need to provide any supporting documentation when filing a claim. However, it is crucial to accurately provide all the requested information to ensure your claim is processed correctly.

6. When can I expect to receive my settlement check?
The distribution of settlement checks typically occurs after all claims have been processed and approved. It may take several months or longer to complete this process, so patience is key.

7. Will receiving a settlement check affect my credit score?
No, receiving a settlement check should not have any impact on your credit score. It is simply compensation for potential harm caused by Think Finance’s alleged deceptive lending practices.

8. Can I appeal the settlement amount if I believe it is insufficient?
Yes, there is an appeals process available if you believe the settlement amount is inadequate. The details of the appeals process will be included in the notice you receive.

9. Are there any tax implications for receiving a settlement check?
It is advisable to consult with a tax professional to understand any potential tax implications associated with receiving a settlement check. In some cases, settlement funds may be taxable, while in others, they may be considered non-taxable.

In conclusion, if you were a customer of Think Finance, you may be eligible to receive a settlement check in 2021. The exact amount you will receive depends on various factors, and it is crucial to follow the instructions provided in the notice you receive. If you have any further questions or need more information, refer to the official settlement website or contact the settlement administrator.