Asset Acceptance & TransUnion Credit Report Account in Dispute or AID Class Action Lawsuit Settlement

If, between June 22, 2009 and October 15, 2009, TransUnion LLC (“TransUnion”) issued your credit report to a third-party user of such a report in connection with your application for credit, insurance or employment, where the report described one or more delinquent accounts owned by Asset Acceptance, LLC (“Asset”) that you disputed but did not contain an “Account In Dispute” or “AID” remark, you may be eligible to receive a free six-month TransUnion Credit Monitoring Subscription, and may be eligible for payment, under a proposed class action settlement.

A class action settlement has been reached in a class action lawsuit against TransUnion LLC (“TransUnion”) and Asset Acceptance, LLC (“Asset Acceptance”) collectively (‘Defendants”) pending in the U.S. District Court for the Northern District of California (captioned Wang v. Asset Acceptance, LLC, et al., Class Action Case No. 09-04797 SI) alleging, among other things, that Asset Acceptance improperly furnished information to TransUnion regarding purported delinquent accounts without reporting that the consumer had disputed the debt and that TransUnion subsequently issued credit reports to third parties containing information regarding the subject accounts but did not indicate that the consumer had disputed the debt, according to the Asset Acceptance & TransUnion Credit Report Account in Dispute or AID class action settlement notice.

You are in the Asset Acceptance & TransUnion Credit Report Account in Dispute or AID Settlement Class if, between June 22, 2009 and October 15, 2009, TransUnion issued your credit report to a third-party user of such a report in connection with your application for credit, insurance or employment, where the report described one or more Asset-owned delinquent accounts that you disputed but did not contain an “Account In Dispute” or “AID” remark.

If the proposed Asset Acceptance & TransUnion Credit Report Account in Dispute or AID Settlement is ultimately approved by the Court, it will provide the following benefits:

• Credit Monitoring Subscriptions – TransUnion has agreed to provide free six month Credit Monitoring Subscriptions for the benefit of Settlement Class Members. Settlement Class Members may visit the Settlement Administrator’s website at www.wangclassactionsettlement.com and submit an email address to which the Settlement Administrator will send an Activation Code.
• Settlement Fund – TransUnion has agreed to pay $750,000, and Asset Acceptance has agreed to pay $250,000 for the benefit of Settlement Class Members. This money will be used: (1) to pay the costs of notice and administering the settlement; (2) to pay counsel for the Settlement Class attorneys’ fees and litigation expenses and to pay a service award to Plaintiff; (3) to make Claim Payments to certain Settlement Class Members; and (4) to pay any residual balance of the Settlement Fund, if any, to a charitable organization or organizations.

If the settlement is approved by the Court, 8,248 Settlement Class Members whose credit scores may have been materially impacted will be eligible to claim a maximum of $100 per account from the Settlement Fund, which amount may be reduced pro rata based on the number of valid claims.

The Court will hold a “Final Fairness Hearing” on April 13, 2012, at 9:00 a.m. at the United States District Court, Northern District of California, Courtroom #10, 450 Golden Gate Avenue, San Francisco, California 94102, to hear any objections and to consider whether to give final approval to the settlement.

For more information on the Asset Acceptance & TransUnion Credit Report Account in Dispute or AID class action lawsuit settlement, visit the class action settlement website:

wangclassactionsettlement.com

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