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| Author: |
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Brenda |
| Date: |
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May 20, 2003 |
| Question: |
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We purchased several household furnishings on our Leons and Brick Cards about 4 months ago on a "do not pay for 15 months" contract. We did not know at that time that we were soon facing a bankruptcy. Can Leons or the Brick come and seize the furniture?
Also, you are allowed in Alberta $4000 in house hold furnishings if I remember correctly...is that $4000 for each person living in the home or $4000 total for everyone in the house??
Please help!
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From: |
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Ann Clarke, Alger & Associates Inc. |
| Date: |
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May 21, 2003 |
| Answer: |
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You are each allowed to claim a $4,000 exemption for household goods. Leons and the Brick are not able to repossess the furniture unless you signed a security agreement pledging the goods as collateral for the loan.
Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca
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