Danger v. Nextep Funding, LLC, 2020 WL 4034822 (D. Minn. July 17, 2020)

Update, January 8, 2021: Due to unforeseen circumstances, the settlement distribution schedule has been delayed until June 2021.  Pursuant to the Court’s January 8, 2021 order (posted below), the class settlement fund will be established no later than June 14, 2021, and the administrator will distribute all settlement checks no later than June 28, 2021. Questions may be directed to Jesse Johnson at the email address below. Thank you for your patience.

LuAnn Danger (“Class Representative”) sued Nextep Holdings, LLC f/k/a Nextep Funding, LLC  (“Defendant”) alleging that the company offered Consumer Pet Lease Agreements to consumers that contained improper disclosures under the Consumer Leasing Act and Truth in Lending Act regarding the payments and charges owed under those agreements, and that the leases imposed finance charges in excess of those allowed under Minnesota law. The parties have reached a class action settlement in this case.

The “Minnesota Class” is comprised of all persons (a) with an address in Minnesota (b) who signed a Consumer Pet Lease Agreement with Nextep Holdings, LLC f/k/a Nextep Funding, LLC (c) between February 26, 2016 and January 9, 2019.

Defendant will establish a settlement fund of $13,700 for the benefit of the Minnesota Class and no longer uses the form Consumer Pet Lease Agreement at issue in this case. All Minnesota Class members will receive an equal share of the Minnesota settlement fund, after deducting the costs of class notice and administration. Assuming no class member excludes himself or herself, it is estimated that each Minnesota Class member will receive approximately $478.

Please note that this settlement does not affect the validity of your Consumer Pet Lease Agreement with Defendant. You are still responsible for the remaining payment obligations outlined in that agreement, if any.

The Court held a final fairness hearing on December 7, 2020. 

Relevant case materials are linked below, including the operative complaint in this case, the parties’ class action settlement agreement, and a copy of the class notice that further explains your rights and benefits under the agreement.

For additional information, please contact Jesse Johnson at jjohnson@gdrlawfirm.com.