Time is running out for eligible Florida residents to seize their opportunity for a payout from Bank of America’s $500,000 settlement. The settlement arises from alleged violations of Florida’s Consumer Collection Practice Act, specifically related to late-night debt communications sent out by the bank between 9 pm and 8 am local time. The deadline for filing claim forms is set for January 26.

According to the terms of the settlement, Bank of America is accused of breaching the state’s regulations by engaging in debt communication during prohibited late-night hours, spanning from April 22, 2020. The communications in question encompassed calls, texts, and various other forms of contact.

Eligible class members stand to receive up to $500 each through the class-action lawsuit. Florida residents who received late-night debt communications from Bank of America are encouraged to check their phone logs to verify their eligibility. The violation of Florida’s Consumer Collection Practice Act prohibits any communication regarding debt collection during late-night hours.

To participate in the settlement, class members can file a claim form on the Kroll Settlement website. Individuals should have also received a notice in the mail, including a Class Member ID to facilitate the form-filling process. All claim forms must be submitted before midnight to be considered.

The payout to eligible class members will be determined based on the number of claims filed for each communication, with a maximum cap of $500 per individual. It is crucial for participants to submit a completed Claim Form to be eligible for a Claim Settlement Payment if the settlement is approved and finalized by the court.

Despite the settlement, Bank of America has not admitted any wrongdoing. However, the financial institution is required to proceed with the payouts to resolve the issues related to Florida’s Consumer Collection Practice Act.

Top Class Action, overseeing the case, has explicitly advised those not involved in the lawsuit to refrain from filing a claim. “If you do not qualify for this settlement, do NOT file a claim,” emphasized Top Class Action.

The U.S. Sun has reached out to Bank of America for comment on this matter. As the deadline approaches, eligible individuals are encouraged to act promptly to ensure they don’t miss out on their chance to receive compensation from the settlement.