The convergence of two trends — seniors retiring while still in debt and continuing to drive until an advanced age — has created a financial pitfall for those who get into an accident and must wait for an insurance company settlement, says Toronto settlement loan provider Larry Herscu of Easy Legal Finance.
VICTORIA — Allowing people to sue for pain and suffering in car accidents has been viewed as a fundamental principle in British Columbia, but that changed Tuesday when the government joined Canada’s other provinces in limiting payouts to some crash victims because of a financial crisis at the public insurance corporation.
The holiday spending hangover and demand for litigation funding
With Canadians owing record amounts of debt, this time of year is especially stressful for many personal injury plaintiffs who struggle with paying bills after the holiday season, says Easy Legal Finance Inc. president and CEO Larry Herscu.
Easy Legal Finance Inc. has launched a new treatment loan solution to help plaintiffs access the rehabilitation therapy they need after being injured in an accident, says its president and CEO Larry Herscu.
With the backlog in Ontario civil courts, personal injury plaintiffs have to wait longer for their cases to be processed, putting a growing number of them in financial hardship, says Easy Legal Finance Inc. president and CEO Larry Herscu.
The Bank of Canada’s decision to raise its key interest rate should be a call to action for Canadians to review their finances, says Easy Legal Finance Inc. president and CEO Larry Herscu.
Traumatic injury is a huge financial burden to the country and the havoc it can cause to those financially unprepared can be just as debilitating, says Easy Legal Finance Inc.president and CEO Larry Herscu.
Costs associated with personal injuries hit $26.8 billion in 2010 in Canada — the most recent figure available — according to a 2015 report by Parachute Canada. The report, which notes injuries also killed 15,866 the same year, predicts by 2035 it will cost Canadians $75 billion and claim 26,390 lives annually.
A major part of ensuring you are financially prepared for the unexpected costs in the aftermath of an accident involves checking car insurance policies to make sure you understand the coverage, says Easy Legal Finance Inc. president and CEO Larry Herscu.