Seize in Alberta

July 24th, 2012 by Questions

I fall behind on payments on my car loan which was financed with a conditional sales contract in Alberta. The car was seized and was auctioned off. I now have a creditor trying to recover the remaining $10,000 owing on the vehicle. My question is what can they do to make me pay?..Can they garnish my wages? etc.

Posted from: Alberta


One Response to “Seize in Alberta”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

In Alberta a conditional sales contract has limited collection rights. Essentially this is referred to as Seize or Sue legislation. Meaning the creditor has the right to either seize or sue, but not both. This statute is a bit confusing and has very specific requirements so I would suggest you consider contacting a lawyer to determine the best way to respond, but likely you won’t have to continue to pay the remainder as a result of the type of contract that was used.

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