The Advance Financial 24/7 lawsuit is a class action lawsuit filed in 2019 by borrowers who allege that the company violated Virginia law by filing lawsuits against them in general district courts even though their loan agreements stated that all disputes would be settled by arbitration.
The lawsuit alleges that Advance Financial’s practice of filing lawsuits in general district courts was unfair and deceptive because it deprived borrowers of their right to have their disputes resolved by arbitration, a more affordable and efficient process. The lawsuit also alleges that Advance Financial’s practice of filing lawsuits in general district courts was intended to intimidate and coerce borrowers into paying their debts, even if they had valid defenses.
The lawsuit is still pending, but in 2020, Advance Financial agreed to settle a similar lawsuit filed by the Virginia Attorney General. Under the terms of the settlement, Advance Financial agreed to stop filing lawsuits against borrowers in general district courts and to pay $1.5 million in restitution to borrowers.
It is unclear how the class action lawsuit will be resolved, but it is important to note that Advance Financial has agreed to stop filing lawsuits against borrowers in general district courts. This means that if you have a dispute with Advance Financial, you will be able to have the dispute resolved through arbitration.
If you are a borrower who has been sued by Advance Financial in general district court, you may be eligible to participate in the class action lawsuit. You can contact the attorneys representing the borrowers in the lawsuit to learn more about your rights.
