Do I need to file a claim for the State Farm repossession settlement?

No. If you are a class member and do nothing, you will automatically receive your cash payment, deficiency write-off, and credit report deletion benefits. No claim form is required.

How much money will I get from the State Farm Bank settlement?

Each class member will receive a check from the $35 million cash fund. The payment amount depends on the amount you borrowed and the interest rate on your loan. In addition, any deficiency balance you allegedly owed after repossession will be written off to $0, and negative credit reporting will be deleted.

Who qualifies for the State Farm repossession settlement?

All persons who had a secured collateralized loan with EMVLP LLC, EMVLP II LLC, Twenty-One Eighty-Five LLC, State Farm Bank F.S.B., or Afni Inc. whose property was repossessed and who were mailed a presale notice and post-sale explanation on or after July 25, 2017.

Will my deficiency balance from State Farm be written off?

Yes. Under the settlement, all deficiency balances that the defendants claimed you owed after they repossessed and sold your property will be written down to $0 and all collection efforts will cease. The estimated value of deficiency write-offs across the class is at least $75 million.

Will the State Farm settlement fix my credit report?

Yes. After the settlement becomes effective, the defendants will request that Equifax, Experian, TransUnion, and Innovis delete all credit reporting information related to your repossession agreement. However, the defendants do not ultimately control whether each credit reporting agency complies.

State Farm Bank Repossession Settlement — $110 Million+ in Benefits Including $35M Cash, Deficiency Write-Offs, and Credit Report Deletions

Name: State Farm Bank Repossession Settlement Fairness Hearing
Start: 2026-05-06
End: 2026-05-06
Location: Twenty-First Judicial Circuit of St. Louis County

By Steve Levine

State Farm Bank Repossession $110 Million Class Action Settlement 2026 $35M Cash Fund Deficiency Write Off Credit Deletion

Published: March 13, 2026

Total Settlement Value: Over $110,000,000

Cash Fund: $35,000,000 (automatic payments — no claim form needed)

Deficiency Write-Offs: At least $75,000,000 (balances reduced to $0)

Opt-Out Deadline: April 23, 2026

What Is This Settlement About?

If you ever had a loan through State Farm Bank and your property was repossessed, you may be getting money, having your remaining debt wiped out, and having negative marks removed from your credit report — and you do not have to do anything to get these benefits.

This settlement resolves a class action lawsuit alleging that State Farm Bank and several related companies — EMVLP LLC, EMVLP II LLC, Twenty-One Eighty-Five LLC, State Farm Bank F.S.B., and Afni Inc. (collectively the "Counterclaim Defendants") — violated statutory requirements for the repossession notices they were required to send borrowers before and after repossessing and selling their property. When a lender repossesses and sells your property, the law requires them to send you specific notices (a "presale notice" before the sale and a "post-sale explanation" after). The lawsuit alleged these notices did not comply with the legal requirements.

The defendants deny all allegations, and the court has not decided who is right. Both sides agreed to settle to avoid the cost and uncertainty of a trial. The total value of the settlement exceeds $110 million.

Do I Qualify?

You qualify if all of the following apply to you: you had a secured collateralized loan or financing agreement with any of the Counterclaim Defendants (EMVLP LLC, EMVLP II LLC, Twenty-One Eighty-Five LLC, State Farm Bank F.S.B., or Afni Inc.), your property was repossessed, and you were mailed both a presale notice and a post-sale explanation on or after July 25, 2017.

You do not qualify if State Farm obtained a final deficiency judgment against you, if you filed for bankruptcy after the date on your presale notice and your bankruptcy ended in discharge (rather than dismissal), or if your presale and post-sale notices were mailed before July 25, 2017.

What Benefits Will I Receive?

This settlement provides three separate categories of benefits, and you are entitled to all three if you qualify:

Cash Payment ($35 Million Fund): The defendants created a $35 million cash fund to pay class members. Every class member will receive a check. The amount you receive depends on the amount you borrowed and the interest rate on your loan. No claim form is needed — if you qualify, your payment is automatic. The cash fund also covers attorneys' fees, expenses, and a $25,000 service award to the class representative.

Deficiency Balance Write-Off (at least $75 Million in value): After the settlement becomes effective, any outstanding amount the defendants claimed you owed after they repossessed and sold your property — known as the "deficiency balance" — will be written down to $0. All collection efforts on that balance will permanently cease. The estimated total value of deficiency balances being eliminated across the entire class is at least $75 million. This means if the defendants or a debt collector have been pursuing you for money they say you still owe after repossession, that debt goes away.

Credit Report Deletions: After the settlement becomes effective, the defendants will request that all four nationwide consumer reporting agencies — Equifax, Experian, TransUnion, and Innovis — delete credit reporting information related to your agreement with the defendants. This could remove negative marks from your credit report associated with the repossession and deficiency. The defendants do not ultimately control whether each credit reporting agency will comply with the request, but the request will be made on your behalf.

Do I Need to File a Claim?

No. By doing nothing, you will automatically receive all settlement benefits — including your cash payment, deficiency write-off, and credit report deletion. There is no claim form to fill out.

However, if you do nothing, you also give up the right to sue the defendants separately over the same legal claims. If you want to preserve your right to sue on your own, you must opt out by April 23, 2026 (see below).

Important Tax Information

The settlement notice strongly encourages class members to consult with a tax professional about the tax effects of any money and benefits received, including the deficiency write-off. Receipt of settlement benefits may have tax consequences. However, the defendants have agreed not to issue an IRS Form 1099-C to class members because the parties believe the settlement involves the discharge of a "contested liability" or "disputed debt." The attorneys in this case cannot provide tax advice.

What Are the Important Dates?

Opt-Out Deadline: April 23, 2026 (postmarked)
Objection Deadline: Must be received before the Fairness Hearing
Fairness Hearing: May 6, 2026 at 8:45 AM, Twenty-First Judicial Circuit of St. Louis County, 105 South Central Avenue, Clayton, MO 63105

What Happens If I Do Nothing?

If you do nothing, you will automatically receive your cash payment check, your deficiency balance will be written off to $0, and a request will be made to delete negative credit information from all four major credit bureaus. You will also be bound by the settlement and give up the right to sue the defendants separately over the same claims.

Case Information

Caption: AFNI Inc. v. Miguel Martinez et al., Case No. 23SL-AC00070-01
Court: Twenty-First Judicial Circuit Court for St. Louis County, Missouri
Judge: Honorable Richard Stewart
Total Settlement Value: Over $110,000,000
Cash Fund: $35,000,000
Deficiency Write-Offs: At least $75,000,000
Defendants: EMVLP LLC, EMVLP II LLC, Twenty-One Eighty-Five LLC, State Farm Bank F.S.B., Afni Inc.
Class Representative: Thuy Martinez
Class Counsel: MLD Law Firm LLC; JBR Law Firm; OnderLaw LLC
Attorney Fees: Up to 35% of the settlement value
Service Award: $25,000 to class representative
Claim Form: Not required — all benefits are automatic

How Do I Find Class Action Settlements?

Find all the latest class actions you can qualify for by getting notified of new lawsuits as soon as they are open to claims:

Official Settlement Notice (PDF)

Settlement Website: sfbnoticeclass.com

View Settlement Details

Sources

• Official Settlement Site — sfbnoticeclass.com
• Court-authorized settlement notice (reviewed March 2026)

Filing Class Action Settlement Claims

No claim form is required for this settlement. All benefits — including cash payments, deficiency write-offs, and credit report deletions — are automatic for class members who do not opt out. Please note that relief provided under this settlement, including money and debt reduction, may be subject to tax. Consult a tax professional. OpenClassActions.com is a consumer advocacy and class action news site, and is not a class action administrator or a law firm.

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State Farm Bank Repossession Settlement Summary
Status	Pending Approval — Payments Automatic When Approved
Claim Form	Not required — all benefits are automatic
Opt-Out Deadline	April 23, 2026
Fairness Hearing	May 6, 2026 at 8:45 AM (Clayton, MO)
Total Value	Over $110,000,000
Cash Fund	$35,000,000
Deficiency Write-Offs	At least $75,000,000 (balances reduced to $0)
Credit Deletions	Equifax, Experian, TransUnion, Innovis
Case	AFNI v. Martinez, No. 23SL-AC00070-01 (St. Louis Cty., MO)
Website	Class Action Site