If any of your clients are receiving Ontario Disability Support Program benefits while waiting for an insurance settlement for personal injury, they might qualify for a loan from Nudorra Capital.

Nudorra can lend up to ten per cent (10%) of the claim’s value, under certain conditions. Please note that we cannot lend funds on a Structured Settlement.

The key is to maximize the amount of the settlement that ODSP does not consider to be income or assets.

ODSP does not count a loan as income if it is used for allowable expenditures, which include:

  • the purchase of household items necessary for your client’s well-being
  • first and last month’s rent to secure accommodation
  • disability-related items or services
  • medically necessary health related reasons (not covered by other government programs)
  • the purchase of an exempt asset (as defined by ODSP)
  • the present or future operation of a business.

We need to consider whether you or your client have completed an Agreement to Reimburse and an Assignment, Authorization and Direction form with ODSP.

We also require information about the claim and the anticipated settlement. As you know, ODSP directives consider different types of settlements or awards to be income, assets, or exempt. Awards for pain and suffering have full income and asset exemption, but awards for punitive damages or lost income are considered income and/or assets. On the other hand, loss of care and companionship due to the injury or death of a family member (per the Family Law Act) has full income and asset exemption.

Nudorra can also arrange After-the-Event (ATE) insurance, which covers any adverse costs or claims if the case is not successful.

This article was written in 2021, based on data available at that time.