$8M Class Settlement Finalized Over Rent-to-Own Storage Sheds
A $8 million settlement has been finalized in North Carolina, resolving claims of excessive fees charged on rent-to-own storage shed contracts.Summary
A class action lawsuit against Carolina Lease Management Group LLC and its affiliates has concluded with a combined $8 million settlement, approved by both federal and state courts in North Carolina. The lawsuits, filed by over 11,000 consumers, alleged that the companies structured rent-to-own agreements for storage sheds as illegal credit sales, exceeding state-imposed finance charge limits. Specifically, the complaints cited violations of North Carolina’s Retail Installment Sales Act, as well as unfair trade practices and debt collection statutes. The cases were handled concurrently in the U.S. District Court for the Eastern District of North Carolina and Jones County Superior Court, with judgments entered this week to finalize the settlement and bring the years-long dispute to an end.
(Source：USA Herald)