Update 10/21/2010

 The Arbitrator has approved the distribution of the Net Settlement Fund paid by Respondents, North Seattle Community College Foundation and its American Financial Solutions Division, to Claimants regarding the Laverne Jones, Stacey Ness and Kerry Ness v. Genus Credit Management Corporation, et al., Case No.: 11 181 00295 05. 

On 10/21/2010 the distribution was made to all valid class members in the Jones Arbitration Settlement.  Each valid claimant received an equal portion of the Net Settlement Fund.  These checks were mailed on 10/21/2010 and will expire on April 19, 2011.  Each valid claimant received $39.61.  This amount was determined by dividing the total amount to distribute in the Net Settlement Fund ($1,873,196.51), by the total number of valid claimants (47,291).  

Since the tax treatment of this distribution varies based on the recipient's tax status and each individual's circumstance, the claims administrator cannot determine the appropriate tax reporting for any recipient.  Kindly consult with your tax advisor on the handling of this amount for income tax purposes.

The arbitration against the remaining respondents is still in process.

Update 7-21-2010

The Arbitrator has issued an Order finally approving the Settlement between the Class and NSCCF/AFS.
FINAL AWARD APPROVING PARTIAL SETTLEMENT OF CLASS ARBITRATION
RULING ON MOTION FOR PAYMENT OF ATTORNEY FEES, INCENTIVE PAYMENTS & COSTS

Legal Notice

This website is related to a class arbitration (the “Jones Arbitration”) filed and pending in the American Arbitration Association by consumers who enrolled in debt management plans (DMPs) with either Genus Credit Management Corporation (“Genus”) or American Financial Solutions (“AFS”). If you enrolled in a DMP with either Genus or AFS, please be aware that: i) the Arbitrator presiding over the case has certified the arbitration to proceed as a class action; and ii) the Claimants have reached a proposed settlement (the “Settlement”) with two respondents, which is subject to approval by the Arbitrator after permitting class members to comment on the Settlement and after a Fairness Hearing. Among other rights, you may also choose to exclude yourself from the Settlement or the entire arbitration.
 
Although a class was certified against all the respondents, only two of the respondents are parties to the Settlement and only class members who did business with them are eligible to file a Proof of Claim to receive money from the Settlement. Please review the Notices (available by clicking on red text below) to determine which class members are eligible to file a Proof of Claim to receive money from the Settlement. If the Settlement is not approved by the Arbitrator, no class member will receive money as a result of the Settlement. Please read the Notices (available by clicking on red text below) for additional details. 
 
If you are a member of the class certified by the Arbitrator, you may have received a Notice (available by clicking on red text below) and Proof of Claim Form (available by clicking on blue text below) in the mail or by email. For more information, please review the materials on this website. If you have additional questions, you may direct them to the administrator by clicking on the “Contact Us" link (to the left), by calling the administrator toll-free at (888) 308-4791 or by writing to the administrator at Jones Arbitration Settlement, c/o Strategic Claims Services, 600 N. Jackson Street, Suite 3 Media, PA 19063. You may also review the American Arbitration Association public docket for this case, available at www.adr.org/sp.asp?id=29365. 
 
Please be aware of the following deadlines: 
  • May 19, 2010: Last day to file ”Proof of Claim” to receive money from the Settlement (only eligible class members may file a proof of claim);
     
  • May 19, 2010: Last day to object to or comment in favor of the Settlement;

  • May 19, 2010: Last day to request to be ”excluded” from the ”Settlement,” the ”entire arbitration” or both the ”Settlement and entire  arbitration;”
     
  • June 10, 2010: Last day to provide notice to the administrator that a class member or her / his attorney intends to appear personally at the Fairness Hearing;
     
  • June 30, 2010: Fairness Hearing to consider the Settlement at the offices of Pepper Hamilton LLP, 600 14th St. N.W., Washington DC 20005 on June 30, 2010, beginning at 10:00 a.m.
     

Please click HERE to read the ”Legal Notice of Class Determination and Partial Class Arbitration Settlement” (for class members eligible to file a Proof of Claim)

Please Click HERE to fill out the ”Proof of Claim” Form Electronically

Please click HERE to read the ”Legal Notice of Pendency of Class Arbitration” (for class members who are not eligible to file a Proof of Claim)

 

 
 
 

 

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