Echevarria Class Action Settlement
- A 5.5 million dollar settlement has been announced in the class action lawsuit entitled Michael Echavarria, et al. v. Bank of America Corporation, et al.
- EchevarriaSettlement.com is administered by Epiq Systems Inc.
- All claim forms must be filed by 1/31/18
Class members in the case contend that Bank of America failed to update credit card information when the accountholder’s debts were sold meaning that the tradelines did not indicate that the debts were included in bankruptcy.
Class members in the case are defined as the following:
“all individual borrowers who (i) maintained a Credit Card Account with [Bank of America NA] that was charged off by [Bank of America NA] and sold to a third-party Debt Buyer on or after January 1, 2008; and (ii) were discharged in Chapter 7 bankruptcy after such debt was sold to a third-party Debt Buyer but before October 1, 2015.” – EchevarriaSettlement.com
The case is pending in the U.S. District Court for the Southern District of New York and the settlement fairness hearing will take place on or around 3/2/18.
The amount of money any class member will receive is not known but the 5.5 million dollar settlement will be divided into 3 payment types:
- Automatic Payments to Bank of America Post-Discharge Payors: These are auto payments and class members do not need to file a claim for this type of payment
- Reimbursement Claim: Payments for the refund of the post-discharge payment(s) up to the full amount of payments the class member made on a credit card after they received a Chapter 7 bankruptcy discharge
- Distribution Claim: Claim payments can be filed for any left over settlement funds
Any questions about the settlement can be directed to 1-844-319-9617 or by mail: Echevarria v. Bank of America, Settlement Administrator, c/o Epiq Systems Inc., P.O. Box 3145, Portland, OR 97208-3145.
Echevarria v. Bank of America class members will be represented by the George Carpinello and Adam Shaw.