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Attorney General Goddard Reminds Consumers that Household/Beneficial Stttlement Payment Deadline is Approaching

Attorney General Goddard reminds consumers that
Household/Beneficialsettlement payment deadline is approaching 

(Phoenix, AZ – October 9, 2003)  Attorney General Terry Goddard issued a reminder today that the clock is ticking for Arizona consumers who haven’t sent in their settlement forms to participate in the Household/Beneficial settlement.  Valid forms need to be sent in on or before October 14, 2003. 

Approximately 12,000 Arizona consumers who received home loans from Household Finance Corp., Household Realty Corp., or Beneficial Corp. are able to claim settlement payments.  Notices were sent to Arizona Household and Beneficial borrowers in August to notify them of their eligibility to share in the Arizona Attorney General’s $7.1 million settlement with Household International.  The forms advised consumers of the minimum payment amount that they will receive if they participate in the settlement.  The exact amount that they will receive may be larger depending upon how many consumers submit valid forms to the Settlement Administrator.  All Household or Beneficial consumers who obtained a mortgage or home equity loan at an Arizona retail lending branch office from January 1999 through September 2002 are eligible to participate and were sent forms to claim payments, ranging from a minimum of $50 to several thousand dollars.   

Consumers who believe that they should be included in the settlement, but have moved since their loans were closed should contact the administrator and provide their address immediately by mail at Household-Beneficial Administrator, PO Box 3775, Portland, OR 97208-3775, visit the Settlement Administrator’s website at www.household-benefical-settlement.com or call 1-888-780-2156.