How much restitution is each borrower eligible to receive?
Every borrower is eligible to receive at least $100.00 for each loan covered by the settlement they had from Household. This payment is called the “Pro Rata Restitution Payment.” Borrowers with loans that contained certain terms will receive additional restitution calculated on the basis of the type of harm suffered and the amount of the loan. This payment is called the “Proportional Restitution Payment.” This refund will be provided even if your loan does not fall within one or more of the categories of harm referred to in the answer to Question 4. Note: For loans where there is more than one borrower on the loan, all the borrowers will share the Pro Rata Restitution Payment and the Proportional Restitution Payment provided under the settlement. Q: What types of harms are compensated by the restitution? A borrower will receive compensation above the minimum $100.00 restitution amount if he or she was issued a loan that contains one or more of the following categories of harm: (a) The
