In most cases, the credit card company doesn't have the right to repossess things that you purchase with your card.
However, if you purchased a large amount of furniture or if it was a 'don't pay for a year' type of arrangement, AND if the credit card you used was the store credit card, you'd need to check any paperwork you may have signed at the time of your purchase. The credit card company can only repossess the furniture if they have a written agreement allowing them to do that if you default on your payments.
So, it's pretty unlikely they can seize it - it depends on what you signed. If you used a Visa or a Mastercard, it's pretty certain that there would be no repossession right.
CIRP, LIT
Senior Vice-President
Servicing: Abbotsford, Chilliwack, Maple Ridge, Surrey, Langley
2025-07-31
Lifestyle Debt Debt Solutions 3 Minute Debt Break podcast
Curious about how debt can influence your retirement? Take 3 minutes to learn about how you can prepare ahead and stay debt-free during your retirement stage.
2025-07-12
Lifestyle Debt Debt Solutions
Eight times a year, the Bank of Canada will make an announcement on the key interest rate, and if projections are correct, we are going to see interest rates rise. You could be thinking, what does that mean, how will it affect me, what can I do?
2025-06-10
Lifestyle Debt Debt Solutions
Disasters like wildfires, floods, and pandemics can happen without warning, so it’s become critical to future-proof your small business.
