Attorney General Mark Shurtleff announced today that approximately 5,800 Utah consumers are starting to receive notices about their eligibility to share in the state's $4.4 million settlement with Household Finance. The mortgage lender agreed to pay $484 million to consumers nationally to settle a lawsuit with all 50 states for alleged unfair and deceptive lending practices from January 1999 through September 2002.

"This settlement will give money back to deserving homeowners and send a strong message to those who would consider taking advantage of people trying to finance a home," says Shurtleff.

Household International, through its subsidiaries Household and Beneficial Finance, is one of the nation's largest sub-prime mortgage lenders. The states alleged that Household misrepresented loan terms, failed to disclose material information about loan costs and offered deceptive information about insurance policies and premiums. The settlement requires Household to reform its lending practices.

The Utah Attorney General's Office, Department of Financial Institutions and Division of Consumer Protection worked with attorneys general and regulators from other states to investigate consumer complaints and negotiate the $484 million settlement. This is the largest monetary settlement ever obtained by attorneys general in a consumer protection case.

Assistant Attorney General Wayne Klein, who helped in the settlement negotiations, says all eligible Household customers should receive a mail notice from the settlement administrator this week. Consumers who wish to participate in the settlement will have to complete and return a simple claim and release form. The actual settlement payments will then be paid directly to the consumers by check before the end of the year.

Household mortgage loan customers who have questions about the settlement payment procedures can contact a toll-free number, 1-888-780-2156. The settlement administrator's website address is www.household-beneficial-settlement.com.

Customers who do not wish to take part in the settlement can contact a group called Consumers Against Predatory Lending. The group can be reached by calling Charles West at 801-573-4043, Judy Maynard at 801-455-6653, or Tori Ashby at 801-949-4492.

6:42:03 AM