LendCare, Easyfinancial, and Easyhome’s loan agreements contain clauses that allow them to charge a higher interest rate and/or NSF fees when customers miss or are late on a loan payment, increasing the overall cost of borrowing. Slater Vecchio has filed a consumer protection lawsuit against these companies for illegal penalty charges in their loan agreements.
These penalty charges can be especially harmful for people who already rely on high-cost credit. When a lender enforces unlawful penalty charges after a missed payment, it can make it much harder for borrowers to get back on track and may result in them paying far more than they expected over the life of the loan.
A class action is a legal case through which one person makes a claim to the Court on behalf of a similarly situated class of people who have the same or a similar legal claim. A class action seeks to hold a defendant or defendants responsible for their conduct that affects each member of the class by resolving issues that are common to the class in the same legal proceeding, instead of each class member bringing a claim individually.
The individual who first files the claim must ask the Court for permission to proceed as a class action. If permission is granted (referred as “authorized” in Quebec, and “certified” in all other Canadian provinces) and the case may proceed as a class action, the Court will appoint an individual as “Representative Plaintiff” to represent the best interests of the class during the litigation and will define the class group. Each person who meets the criteria of the class group is considered a “Class Member”.
You may be affected by this class action if:
This may include any form of personal loan signed with LendCare Easyfinancial, or Easyhome. You are eligible whether you still have an active loan or have already paid it off. Loans for business do not apply.
For more information or to participate in this class action, please fill out the form on this webpage, and we will contact you.
