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Questions

You might see some updates to the Frequently Asked Questions (FAQ) from time to time, please visit often and make sure to check our Status page for updates on the case.

1. What are these lawsuits all about? +

These lawsuits are for Canadians who took Payday Loans (including “Lines of Credit”) at Ontario locations of The Cash Store Inc. and Instaloans Inc. since September 1, 2011.

The lawsuits, known as Class Actions, are for the allegedly illegal fees and interest borrowers paid when they took their Payday Loans at Ontario locations of the Cash Store or Instaloans after September 1, 2011.

Court documents can be found here.

2. How do I know if I am a Class Member? +

You are automatically a Class Member if you meet all three criteria:

  • you took a payday loan (including a line of credit) from Cash Store or Instaloans;
  • the Cash Store or Instaloans store where you took the payday loan was in Ontario; and
  • you took the payday loan after September 1, 2011.

If you meet all 3 of the above criteria, you are a Class Member and are eligible to make a claim for a share of the settlement money.

3. What information do I need to make a claim? +

You do not need very much information at all.

As part of the settlements, The Cash Store and others confidentially provided contact information and loan details to the claims administrator. The Court approved the sharing of that information.

If you don’t think the loan information is correct or if we don’t have your loan information, don’t worry. You can provide further information and documentation explaining your loans to help you make a claim.

Examples of supporting documentation include but are not limited to the following in respect of loans taken in Ontario after September 1, 2011:

  • The Cash Store loan agreement (sometimes referred to as a “Promissory Note” and Disclosure of All Costs);
  • A loan statement or other document provided by The Cash Store or DirectCash, describing the particulars of the loan and any charges;
  • An agreement with DirectCash (sometimes referred to as the DirectCash Wallet Agreement or DC Wallet Agreement);
  • Pre-authorized debit agreements;
  • Letters, emails, or other documents received from The Cash Store or DirectCash, collection agency, or other party attempting to collect the loan;
  • DirectCash bank account statement:
  • Banking or other financial records evidencing the amount of the loan, and fees and charges associated with the loan;
  • Documents relating to devices (for example, bank cards or credit cards) received in association with the loan; and
  • Comparable verification that is acceptable to the claims administrator.

4. Will my information be shared with anyone? +

Absolutely not. Your privacy is important to us. All information that was provided as part of the settlements will not be shared with anyone else, including collection agencies or anyone affiliated with them.

5. How much money will I get? +

This depends on the number of loans you took, the amount of those loans, and how many claims overall are submitted from all Class members during the claims process.

You will get a minimum of $50 and possibly more, depending on the total number of claims received from Class members, and the value of those claims.

Each valid claim may be prorated based upon the total value of claims submitted.

6. I am on social assistance. Can ODSP or Ontario Works take my settlement money, if my claim is approved?+

The lawyers for borrowers want the settlement money to go to you, the borrower. They asked the government how the settlement money would be treated, if a borrower was in the Ontario Disability Support Program or on Ontario Works. The Ontario government officially gave the following helpful answer:

The Ministry of Community and Social Services will provide direction to Ontario Disability Support Program local offices and Ontario Works Administrators that they should not consider (or “treat”) payments received by social assistance clients under this settlement as income in the month received or as an asset for 12 months following the payment date. If you have questions regarding your individual circumstances you are encouraged to contact your social assistance caseworker.

7. What’s the deadline for making a claim?+

Claims must be submitted by no later than October 31, 2016. Claims submitted after this date, will not be approved, so be sure to submit your claim on time.

8. When will I get my money? +

There are a number of steps to complete before we can pay claims, including reviewing all of the claims submitted.

Accurate claims processing takes time and your patience is appreciated. We are hoping to be able to mail out cheques by mid- 2017.

9. Does it cost anything to request a payment? +

No, it does not cost anything to request a payment. Class counsel and the administrator’s fees have already been approved by the court and you will not be charged for their work.

10. How do I know my claim was submitted? +

Immediately following submission of your claim, a page will display "Your submission was successful. Your Claim ID is: PAYDAY-######"

You will also be sent confirmation of your claim by email to the email address you have provided in your claim.

If you do not get this message, please confirm that you have filled in all the required information. There will be red text on the form anywhere that information is missing. If you are still unsure whether your claim was submitted, call us at toll-free or email us at payday@ricepoint.com.

11. Why have you not emailed me back? +

Waiting for an email from us? Always check your Junk Mail or Spam folders! Sometimes emails can end up there. To stop future emails from ending up in your junk folders, add payday@ricepoint.com to your safe senders list. Here’s how.

If you requested an access code, checked your Spam/Junk folders and still have not been emailed an access code, please note that if you received a confirmation of your request, we received it!

It may take several weeks to process your request. Don’t worry; you have until October 31, 2016 to file a claim! Give us a call if you have any concerns.

12. I still have questions. Who can I call? +

Contact RicePoint Administration Inc., who manages the claims process, anytime. We are pleased to help answer your questions. Email us at payday@ricepoint.com. If you need to call us, you can do that too, at 1-866-840-2631 (toll-free.)

13. Who acts for the borrowers? +

Harrison Pensa represents the borrowers. You can contact them at:

Harrison Pensa LLP
Attention: Jonathan J. Foreman
450 Talbot Street, London, ON N6A 5J6
Tel: 1.800.263.0489 ext. 608
Fax: 1.519.667.3362
E-mail: cashstore@harrisonpensa.com