If You Are A Consumer In The State Of Minnesota Who Received A Letter Advertising The New Horizon’s Credit Card Program, Your Rights May Be Affected By A Class Action Settlement.
A class action settlement has been reached in a class action lawsuit pending against Tighorn Financial Services, L.L.C. d/b/a New Horizons Financial Services (“Tighorn”), Total Card, Inc. (“Total Card”), Monterey County Bank (“Monterey”), and Gordon Shaffer (“Shaffer”) (collectively, “Defendants”) in the United States District Court for the District of Minnesota (styled Dennis Reeves v. Tighorn Financial Services, L.L.C. d/b/a New Horizons Financial Services, Total Card, Inc., Monterey County Bank, and Gordon Shaffer, Class Action Case No. 08-4866 PAM/FLN) alleging, among other things, that Defendants were liable for alleged legal violations under the Fair Debt Collections Practices Act, (“FDCPA”) 15 USC §1692, et seq. in connection with mailings sent to approximately 6,500 persons in Minnesota, according to the class action settlement notice.
Tighorn Financial d/b/a New Horizons Financial Services, Total Card & Monterey County Bank Fair Debt Collection Practices Act FDCPA class action lawsuit settlement class members reportedly include the following persons, unless otherwise excluded:
All consumers in the State of Minnesota who received letters advertising the New Horizons credit card program, identical or similar to the letters attached as Exhibits 1, 2, 3, 4 and 5, of the Third Amended Complaint within one (1) year of the filing of [the class] action.
The Tighorn Financial d/b/a New Horizons Financial Services, Total Card & Monterey County Bank Fair Debt Collection Practices Act FDCPA class action settlement reportedly provides that with respect to the Class members who were mailed letters in the New Horizons program Defendant Tighorn agrees that it will not take any collection action and will not sell or transfer the same debt to any other party. With respect to the settlement Class members who responded to the letters and signed up for a New Horizons credit card issued by Monterey County Bank, each will reportedly be compensated in the amount of $85, and in addition, 1) Defendants will not take any collection action or sell or transfer the debt to any other party; 2) Defendant Monterey County Bank will refund and return any transferred amounts paid, plus the initial annual fee and plus any interest that has accrued on the transfer and initial annual fee; and 3) as to those who boarded and then used the card for new purchases, the Class member will remain subject to the terms of the cardholder agreement. In addition to the foregoing relief, Defendants will reportedly undertake appropriate credit-reporting to reflect the terms of the class action settlement.
New Horizons settlement class members who wish to opt out of the settlement (i.e., and not receive any benefits that the Class may recover from the settlement and not be legally bound by the Court’s judgments) must reportedly send a letter postmarked by December 15, 2010, with their name, address, and phone number to Thomas J. Lyons Sr., Trista M. Roy, Consumer Justice Center P.A., 367 Commerce Court, Vadnais Heights, MN 55127, indicating that they wish to be excluded.
The Court has reportedly directed that a final hearing on the proposed class action settlement be held on January 6, 2011, before The Honorable Paul A. Magnuson, United States District Judge, in the United States District Court, Courtroom 7D, at 734 Federal Building, 316 North Robert Street, Saint Paul, Minnesota, commencing at 10:00 a.m., to determine, among other things, whether the proposed Tighorn Financial d/b/a New Horizons Financial Services, Total Card & Monterey County Bank Fair Debt Collection Practices Act FDCPA class action settlement should be given final approval as fair, reasonable and adequate.
For more information on the Tighorn Financial d/b/a New Horizons Financial Services, Total Card & Monterey County Bank Fair Debt Collection Practices Act FDCPA class action lawsuit settlement and/or for updates on the class action settlement, visit the New Horizons class action settlement website:
newhorizonsclassaction.com
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