Cash Money Check Cashing

Description

British Columbia Class Action Settlement Claim Form NOTICE OF SETTLEMENT OF PAYDAY LOAN CLASS ACTION AGAINST CASH MONEY Read this notice carefully as it may effect your legal rights. The purpose of this notice. This notice is to all residents of British Columbia who have borrowed money as a "payday loan" from a Cash Money location on or before October 31, 2009 and have repaid the loan and the standard Service Cost fee charged by Cash Money. A class action has been certified in the Supreme Court of British Columbia against Cash Money and others. This action alleges that Cash Money has provided payday loans in a manner which is contrary to the Criminal Code and seeks to recover monies alleged to have been unlawfully received in relation to these loans. The Defendants deny these allegations, and they remain unproven. On February 2, 2010, the Honourable Madam Justice Dickson of the B.C. Supreme Court approved the settlement of the class action. The settlement does not constitute an admission by or a finding of liability against the Defendants and is a compromise of disputed claims. Who is part of the class action? You are a member of the Class and entitled to participate in this settlement if you borrowed money as a "payday loan" from Cash Money prior to October 31, 2009, from a location: and you repaid the loan and the standard Service Cost fee within 141 days of the loan advance. What are the terms of the settlement? Each Class member submitting a claim is entitled to receive a refund of up to 100% of the Service Cost fees they paid plus interest, subject to reductions for legal expenses and repayment of any unpaid loans. Refunds will be paid 50% in cash and 50% in vouchers that are redeemable for cash in 3 years from their issuance or are redeemable immediately for services from a Cash Money location. To fund the payment of claims, the Defendants will establish a Settlement Fund of more than $1.2 million in cash and vouchers. The precise amount of your refund will depend upon the total amount of the claims made against this Settlement Fund, may be reduced to pay your share of the legal expenses approved by the Court, and will be offset by any principal amount outstanding on your loans. If the amount of the Settlement Fund available to pay claims is less than the total amount of the claims made, you will receive a pro rata share of the Settlement Fund. The complete terms and conditions of this Court approved settlement are contained in the Settlement Agreement, which is available at www.classcounsel.ca. How do I make a claim? To receive compensation under the settlement, each Class member must submit a Claim Form, and a copy of the required identification document as specified on the Claim Form, on or before June 17, 2010

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