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Payday Lenders
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To contact us please call 1 866 545 9918 or send us an
e-mail
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Updated: August 19, 2008
IMPORTANT NOTE:
This website has been developed to provide general information
to potential class members on a number of class actions that have been
commenced concerning pay day loans.
The site is not designed to answer questions about your individual situation or
entitlement. Do not rely upon the information provided on this website as legal
advice in respect of your individual situation or use it as a substitute for
individual legal advice.
The information collected about potential class members will assist counsel in
prosecuting the class action and assessing what damages were suffered by the
class as a whole. Providing the information requested does not make you the
client of Koskie Minsky LLP,
Paliare Roland Rosenberg Rothstein LLP, or
Sutts, Strosberg LLP. The court will ultimately decide who will be
included as a class member. |
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A "payday loan" is a short-term loan advanced by a lender that is due on or
before the borrower's next payday. The lender charges various fees and interest
on the loan. Usually, at the time the loan is advanced, the lender requires the
borrower to provide it with a cheque postdated to the borrower's next payday,
in an amount that includes the principal amount borrowed, interest and other
fees. In some cases, in addition to a contract, the lender requires the
borrower to sign an assignment of wages. Unless the loan is repaid prior to the
borrower's next payday, the lender cashes the cheque as repayment of the loan.
Koskie Minsky LLP acts as counsel (in some cases in
partnership with Sutts,
Strosberg LLP and
Paliare Roland Rosenberg Rothstein LLP) for the representative
plaintiffs against a number of companies that offer payday loans. In each of
the payday loan class actions it is alleged that the interest and other fees
charged on the payday loans constitutes a criminal rate of interest, contrary
to Section 347 of the Criminal Code of Canada. On behalf of the class in each
case we are seeking damages and an order to prevent the lenders from continuing
to charge a criminal rate of interest.
If you have taken out a "payday loan" at any Canadian branch of the companies
listed below (subject to any exclusions noted in the individual Statements of
Claim), we invite you to review the Frequently Asked Questions link to the left
of this page.
Current Payday Loans Class Actions
You may click on the links below to read news releases and court documents for
payday lender class actions currently in progress. Please note that this site
will be updated from time to time as new actions are commenced.
COSTS AND REGISTRATION
There is no direct cost to you. These actions are proceeding on a contingency
fee basis. Class members will not be required to directly pay any legal fees to
the class action lawyers. If the class action is successful at trial or
settled, class counsel fees may be paid by the defendants or out of the
settlement or judgment proceeds as approved by the court.
If you believe that you are a potential Class Member, we ask that you please
contact us in writing by completing our online registration form by clicking
here. You may also click
here for a printable version and mail it to us at Koskie
Minsky LLP, c/o Payday Class Actions, 20 Queen Street West, Toronto,
Ontario M5H 3R3.
If you have any questions, please feel free to contact us by email at
paydayclassactions@kmlaw.ca or feel free to call our 24 hour hotline:
1-866-545-9918.
To view information about how class actions work, please
click here.
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