South Dakota Attorney General Marty Jackley announced the state will receive a $104,976.64 settlement with Credit Acceptance Corporation to provide cash and debt relief to consumers in connection with their car loans.
South Dakotans affected by the settlement will be eligible for individual debt relief. The state’s share of the settlement will go to the Consumer Protection Fund within the Attorney General’s Office to fund future consumer protection efforts.
“CAC approved loans that led to consumers defaulting on loans and having their vehicles repossessed,” Jackley said. “I appreciate that CAC has taken steps to make changes and forgive qualified debt to South Dakotans.”
Jackley joined 39 other attorneys general in the settlement, from Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, the District of Columbia, Florida, Georgia, Hawaii, Illinois, Indiana, Kentucky, Louisiana, Maine, Michigan, Minnesota, Nebraska, Nevada, New Hampshire, New Mexico, New Jersey, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Utah, Vermont, Virginia, Washington and Wisconsin. New York is concurrently settling separate litigation it brought against CAC in the Southern District of New York.
Customers with questions about the settlement can call Credit Acceptance Corporation’s customer service line at 1-800-634-1506 or contact the claims administrator once appointed. Customers eligible for debt relief will be notified directly by CAC, while consumers eligible for restitution will be notified by the claims administrator.