Every week I meet with someone in my Brantford office (at 218 Brant Avenue, across of from the Avenue Medical Centre) that tells me a collection agent is threatening to come to their house and take their furniture. In most cases I tell them that it is highly unlikely that anyone will take their furniture.
In order to be able to seize your furniture the lender must have a lien on your furniture, or they must have a court order. If they don’t, they can’t take your furniture.
Many finance companies give what are called household goods loans. As part of the loan documents they make you sign a document, with a list of your furniture, that gives them the right to repossess your furniture if you don’t pay. They must then register this lien in the Ontario government’s Personal Property Security Act system in order for the lien to be valid in most cases.
If they have not registered a lien, they will require a court order to seize household goods, which is very difficult to get (the courts almost never allow for the seizure of household goods).
If collection agents are threatening you, you probably have more debt than you can handle, so I suggest you e-mail me or call my office in Brantford at 519-770-4440 to set up a meeting with me personally to review your situation and determine how we can make a plan to deal with your debts.
