Glossary
In Debt and Consumer Rights, Income Assistance, Other benefits
An unsecured debt is money you owe a person or business that is not protected by collateral. This means that your creditor cannot take any of your assets if you do not pay what you owe, unless they take you to court and get a judgment against you. Most credit cards are unsecured debts.
A used car dealer is anyone who sells cars, trucks, or motorcycles as a business. Used car dealers must be registered with the Ontario Motor Vehicle Industry Council (OMVIC). Used car dealers must follow specific rules in Ontario.
Wage assignment is when you agree to let a person or business take money directly from your employment income to pay a debt. This is different from garnishment, which has to be ordered by a court.
A warranty is a written guarantee that that a company gives that promises to replace, repair, or redo any items or services purchased from them that are not working. Warranties are usually limited to a specific time from the date of the purchase.