Payday Lender Class Actions
FREQUENTLY ASKED QUESTIONS
1. As a class member, do I have any responsibility to pay for any
cost awards made in the litigation of a class action?
Answer: No under the Class Proceedings Act, 1992 section 31(2)
Class members, other than a representative party, are not liable
for costs except with respect to the determination of their own
individual claims.
2. As a class member do I have any responsibility for the legal fees
of plaintiff’s counsel?
Answer: The representative plaintiffs for each class action have
entered into contingency fee agreements with class action counsel,
which provides for payment of their legal fees in the event the
action is resolved, either by settlement or by court order, in favour
of the plaintiff class. Such legal fees would be paid out of the
proceeds of settlement or judgment, and will not require any payment
from class members directly. Plaintiff counsel’s legal fees
have to be approved by the court before they can be paid.
3. What do I have to do to join a class action?
Answer: You do not have to do anything to become a member of a
plaintiff class. The proposed class for each action is defined in
the respective statements of claim. If you fall within the definition,
and the class action is certified, you are automatically a member
unless you opt out (see FAQ #4 for opt out procedure).
If you believe you fall within the definition, then you may contact
Paliare Roland at the address, below. We will endeavour to keep
you advised as each of the matters proceeds through postings on
the website, e-mails, or other correspondence. Ultimately, at such
time as a class action is certified then steps will be taken to
identify all members of the class.
4. I have taken a payday loan(s) but do not want to be part of the
class action(s). What do I do?
Answer: If you fall within a class definition but do not want to
be a member of the plaintiff class, then you have the right to opt
out of that class action after it is certified. The certification
order will set out the manner of opting out and a time within which
you may do so.
5. What happens when a claim is commenced by way of a Statement of
Claim?
Answer: The first step is usually a case conference with counsel
for the plaintiffs and defendants before a judge of the Ontario
Superior Court of Justice to set a timetable for proceeding towards
a motion for certification of the action as a class proceeding,
as defined in the Class Proceedings Act, 1992. At a certification
motion, the Judge assigned to the action, will decide if it can
proceed as a class action. Successful certification motions will
include a provision with respect to providing notice to class members.
This website will be updated whenever there are substantial new
developments on any of the actions for which Paliare Roland represent
the representative plaintiff or defendant.
6. I have taken payday loans from one or more of the defendant companies
and have kept my loan agreements or other records of the loans. What
should I do with these records?
Answer: Please keep copies of these records for yourself and send
the originals of all documents with respect to your payday loans
to Paliare Roland, Attention: Scott Werry, at the address listed
below. Please indicate your name and address clearly on any documents
you send to us.
7. I have taken a payday loan and not yet repaid it. What are my
obligations?
Answer: In the payday loan class actions, the plaintiffs are seeking
a declaration that the “interest charges” are illegal
and not payable by the class(es), and an order requiring that those
“interest charges” be repaid to the class members by
the defendant companies. The proposed class actions do not affect
your obligation to repay the principal amount of the loan. The principal
is the amount of money that you received from the defendant when
the payday loan was advanced.
At present the “interest charges” also remain payable
to the defendant companies. If you do not pay the interest charges,
then you may be subject to whatever collection processes the defendant
companies may institute. If you choose not to pay the interest charges
pending the outcome of this action, then you do so at your own risk.
Should any of the listed action ultimately not be successful, then
you may have to pay the interest charges and any late payment interest
or charges may accrue with respect to the unpaid interest charges.
If you do pay or have paid the interest charges, and the class
action(s) are ultimately resolved in favour of the class(es), you
will be entitled to your share of the remedy as ordered or approved
by the Court.
8. I took payday loans from companies not currently listed as defendants.
Do I fall within the class?
Answer: No. Unless you took a payday loan from one of the listed
defendant companies, you will not be a class member. If you have
taken payday loans from other lenders and you think you may have
been charged interest in excess of 60% per annum and would like
us to investigate the matter for you, you can let us know by e-mailing
us at paydayloans@paliareroland.com or by contacting us at the address
below.
Answer: If you fall within a particular class definition but do
not want to be a member of the plaintiff class, then you have the
right to opt out of the class action after it is certified. The
certification order will set out the manner of opting out and a
time within which you may do so.
If you have any questions that are not answered on the website,
please do not hesitate to contact us.
9. I have taken out payday loans from U.S. branches of the defendant
companies. Do I qualify as a class member?
Answer: No. You must have taken out your loan at a Canadian branch
of the defendant companies (with the exception of any exclusions
for lenders located in the provinces of Quebec and British Columbia
as specifically noted in the Statements of Claim).
9. How can I contact Paliare Roland LLP?
Answer:
CONTACT INFORMATION:
Mailing Address:
Paliare Roland Rosenberg Rosenberg LLP
Attention: Margaret Waddell or Odette Soriano
250 University Avenue, Suite 501,
Toronto, Ontario M5H 3E5
E-mail: info@paliarerolandclassactions.com
Phone: (416) 646-7409
