Should You Join a GoodLeap Class Action Lawsuit?

At Prevost Law Firm, we’ve recently received a number of questions about a potential class action lawsuit against GoodLeap (formerly known as LoanPal). Many clients are wondering if joining such a lawsuit is a smart move, or if there’s a better path forward.

Here are our thoughts based on current legal realities and our direct experience representing consumers with solar loan disputes.

The Arbitration Clause Hurdle

One of the biggest obstacles to any class action lawsuit against GoodLeap is the arbitration clause built into every single GoodLeap or LoanPal loan agreement. These clauses state that customers agree not to file or join a class action, and instead must resolve disputes through individual arbitration.

At Prevost, we thoroughly evaluated this issue early on. In our opinion, it is unlikely that a court would agree to set aside GoodLeap’s arbitration clause entirely. Overcoming that clause would take years of litigation, and if a class action attorney lost, GoodLeap would almost certainly appeal the decision all the way to the U.S. Supreme Court.

That kind of legal battle is not only time-consuming, but it’s also uncertain…and risky.

Class Actions Usually Benefit Lawyers, Not Consumers

Even if a class action against GoodLeap were to move forward, it’s important to be realistic about what that outcome might look like.

In our experience, class actions often result in big payouts for the attorneys, while individual consumers receive very little. We’ve seen cases where consumers walk away with a $10 gift card while attorneys walk away with millions. Meanwhile, the companies being sued walk away having paid very little per customer, essentially buying their way out of accountability.

We believe this is not justice. And it’s not what most of our clients are looking for.

Why We Recommend Individual Arbitration

If your goal is to have your solar loan wiped out and your legal fees covered, we strongly believe your best bet is to file an individual arbitration claim.

While individual arbitration does take time (typically 9 to 12 months) it is much faster and more predictable than waiting years to see if a class action goes anywhere. And unlike a class action, an individual arbitration gives you the opportunity to seek a full resolution of your case, not just a token settlement.

Bottom Line

We’re not saying a class action against GoodLeap is impossible. But in our opinion, it’s highly unlikely to succeed, especially within a reasonable timeframe or with meaningful outcomes for individual consumers.

Additionally, payments to consumers are much lower in a class action lawsuit, compared to individual arbitration, in our experience.

If you’re serious about holding GoodLeap accountable and getting your solar loan canceled, we encourage you to explore an individual claim instead. It’s faster, it’s more certain, and it’s much more likely to actually result in meaningful relief for you.

Have questions about a GoodLeap class action lawsuit or or other solar loans and issues?

Contact Prevost Law Firm today to get your no-cost claim review.