Deadline nears to file claim for repayment from Money Mart

The push to identify consumers owed up to $7.5 million by Money Mart (Loan Mart) is in its final 40 days.

California Assembly Speaker John A. Perez, San Francisco City Attorney Dennis Herrera, and Sacramento Mayor Kevin Johnson highlighted the final 40-day push to located eligible consumers for restitutions at a news conference yesterday.

The program is among the terms of an agreement City Attorney Herrera’s office negotiated to settle his office’s 2007 consumer protection lawsuit against payday lenders Money Mart and Loan Mart for unfair and fraudulent business practices. The alleged wrongdoing stemmed from the lenders’ marketing of short-term installment loans and oversized payday loans, usually targeted to low income borrowers, at excessive and illegal interest rates.

The statewide outreach effort is taking place to beat the October 1, 2012 deadline.

The San Francisco City Attorney’s Office indicates eligibility for repayment:

You are eligible to make a claim for repayment if:

  1. you borrowed a pay day advance loan (sometimes called a “Cash ‘til Payday” loan) at a Money Mart store between January 2005 and July 2005, or 
  2. you borrowed an installment loan (sometimes called a “CustomCash” loan) at a Money Mart store between July 2005 and March 2007.

Money Mart’s website indicates there are ten branches in Sacramento. Four of those branches are located in the North Sacramento region:

  • 2422 Del Paso Blvd, Sacramento, CA (map)
  • 1511 Del Paso Blvd, Sacramento, CA (map)
  • 2202 El Camino Ave, Sacramento, CA (map)
  • 5044 Madison Ave, Sacramento, CA (map)

If you visited any Money Mart branch and feel you meet the eligibility requirements for repayment, you may:

  1. Complete the claim form
  2. Call the San Francisco City Attorney’s Money Mart Settlement Hotline at 866-497-5497
  3. Email further questions to:

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