A Great Lakes class-action lawsuit claims that the company has harmed millions of people through a mistake that happened in 2010. According to the plaintiffs, credit agencies contacted thousands of people who were unaware they had loans and demanded payments for nonexistent loans. The resulting bad credit score and lost wages have led to an enormous amount of angst and frustration for many consumers. The company has been accused of lying and deceptive practices.
As a result, consumers have been forced to pay more for gas.
A Great Lakes servicer has admitted that they reported loan payments in error, including payments deferred during the forbearance period. The company is attempting to resolve the problem, but there is no guarantee that the company will accept the settlement. The Great Lakes class action lawsuit may result in millions of people being able to get their money back.
The plaintiffs, in this case, are Great Lakes customers who have received federal student loans. They argued that GreatLakes incorrectly reported their federal student loan debt as “deferred,” which caused their credit scores to plummet. Because of these errors, Cody Hounanian has had to stop his job search and move back in with his parents. He will also be forced to put his belongings in storage because of the negative impact on his finances.
In addition to not filing a complaint, customers can retain their rights to sue Great Lakes individually if they so choose.
Fortunately, there is still time to act and avoid a class action. If you want to keep your options open, you should act now. The deadline for doing so is January 31, 2020. If you wish to participate in the class action lawsuit, make sure to contact the servicer to find out more information.
If you have been harmed by Great Lakes’ actions, then you should be aware of your rights. You have the right to file a lawsuit and keep the money you receive if you win. If you’re not included in the lawsuit, then you lose your right to sue Great Lakes individually. If you don’t take action now, you’ll be excluded from the class. It is important to act before the deadline – you must file your suit before the date of January 31, 2020 – to preserve your right to sue Great Laurel.
The Great Lakes servicer is addressing a class-action lawsuit alleging that it wrongly reported loan payments during the forbearance period.
The servicer was obligated to report payments made by the borrower if the loan was deferred. This incorrect reporting negatively affected millions of accounts. Thankfully, the Great Lakes servicer has agreed to make the mistakes corrected. If you’re not satisfied with this result, there are other ways to fight back.
A class-action lawsuit can be filed against the Great Lakes servicer. The company has denied the allegations in the lawsuit. They should be required to pay the assessment if they didn’t pay the debt. The court must rule on the lawsuit before it can be resolved. The judge is also expected to determine if the Great lakes company’s actions affect millions of other accounts. The servicer will have to investigate the claims and make them right.
The servicer must respond to the Great lakes class-action lawsuit, which was filed four years ago.
The servicer failed to properly report federal student loan payments made by the borrower. This prompted a major drop in the borrower’s credit score, which ultimately affected his chances of purchasing a new home. Unfortunately, he is unable to afford the mortgage payments and is forced to live with his parents until the case is resolved.
The class-action lawsuit has been filed in federal court. The company is facing a huge legal battle, and it has admitted its mistake. Currently, Great Lakes has apologized to its customers on Twitter and has agreed to correct its reporting in the future. Despite its lack of response, the company has already changed its reporting procedures, but it still hasn’t provided any details regarding its COVID-19 student loan forbearance.
