Jump To Navigation
Reputation. Experience. Success

Credit Insurance Fraud

Credit insurance is offered to consumers as a way to pay back some or all of a specific loan or line of credit in the event you die, lose your job, and/or become significantly disabled or ill. A credit insurance company may charge a monthly premium to maintain credit insurance. However, a credit insurance company sometimes charges a single upfront premium to insure a loan on a vehicle, boat or RV. This single premium then becomes part of the consumer's financing, and the credit insurance company earns the premium month by month until the insured loan runs its course.

If you have a loan that is insured and that loan ends prematurely because you have paid off, traded or refinanced the loan early or wrecked the vehicle and had it declared a total loss before it was paid off, your credit insurance company is obligated to refund you the premium for the months it has not yet earned. However, most credit insurance companies will not refund a consumer's unearned premium unless the consumer requests the refund. The firm of Butler, Wooten & Fryhofer has been instrumental in obtaining class action relief for thousands of credit insurance consumers whose insured loans ended early but who did not receive their money back from credit insurance companies.

If you believe that a credit insurance company is wrongfully withholding your premiums, or has harmed you and others in another way, please contact us.

Success Stories

$45,000,000 Settlement | Credit Insurance/Consumer Rights Class Action

10/31/07 Toole v. J.M.I.C. Life Insurance Company, Superior Court of Muscogee County, Georgia

Plaintiff Toole represented a class of people who prepaid J.M.I.C. Life Insurance Company premiums for credit life and disability insurance policies when they purchased vehicles. J.M.I.C. Life Insurance Company contractually promised to refund any unearned premium if class members paid off the insured loans before the five-year term had expired, but failed to do so when they paid off the insured loans early.

$105,500,000 Verdict | Defective Automobile

11/23/04 Flax v. Daimler Chrysler Corporation and Louis A. Stockell, Jr., Circuit Court for Davidson County, Tennessee

More Verdicts

Columbus
105 13th Street
P.O. Box 2766
Columbus, GA 31902
FAX 706.323.2962
706.322.1990
1.800.233.4086

Atlanta
2719 Buford Highway
Atlanta, GA 30324
FAX 404.321.1713
404.321.1700
1.800.242.2962


FirmSite® by FindLaw, a Thomson Reuters business.

With offices in Atlanta and Columbus, Georgia, the attorneys at Butler, Wooten & Fryhofer, LLP represent the seriously injured throughout Georgia, including the cities of Atlanta, Columbus, Marietta, Smyrna, Roswell, Gainesville, Peachtree City, Forest Park, Riverdale, Lagrange, Macon, and Savannah. Our lawyers have handled accident and defective product claims nationwide, including Alabama, Arizona, California, Connecticut, Florida, Georgia, Illinois, Kansas, Louisiana, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nevada, New York, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, West Virginia and Wyoming.