Update about Credit Reporting
We wrote a letter to each of TransUnion and Equifax Canada Co. to inform them about the allegations made in the proposed class action, and to request that they not downgrade anyone’s credit until the case is finally resolved in this litigation.
Equifax refused the request. It has stated that it will continue to accept delinquency reports from FinanceIt.
TransUnion has advised that it does not accept reports from FinanceIt. However, we do not know if that means that it does not accept reports from third-party credit agencies involving FinanceIt.
We disagree with Equifax’s response and told them so by reply letter.
As a result, while the case is being litigated before the Court, you should be aware that, despite our request, if you stop making payments, it may have a negative impact on your credit score.
We encourage you to obtain a credit report (most banks will allow you to do this free of charge). If you see information on your Equifax or TransUnion credit report that you believe is inaccurate or incomplete, you have the right to dispute the impact on your report. To do so, you may submit a dispute to Equifax or to TransUnion. Both companies allow you to dispute information online or by mail.
FinanceIt Canada Inc.
Court:
Ontario Superior Court of Justice
Class Members:
Class members include all individuals who are or were at any time, directly or indirectly, party to a Consumer Agreement with the defendant, FinanceIt Canada Inc., through a Dealer intermediary for HVAC, pools and spas, windows and doors, water treatment, roofing and exteriors, home renovations, and similar goods and services.
Examples of a “Dealer” include Provincial Smart Home Services, JBR & Associates Inc., Entire Smart Home, Encore Management Corp, CJR Flooring Inc., 12159856 Canada Inc., AGM Renovations Inc., Creation by Renovation Inc., VM Installations Corp. and Ontario Smart Energy.
Co-Counsel:
Foreman & Company is working with Sotos Class Actions and the Advocacy Centre for the Elderly (“ACE”) to prosecute the claims against FinanceIt Canada Inc.
The content of this page has not been approved by the Court nor does it constitute legal advice. It is for the purpose of providing general information only.
Case Contacts
This is a consumer protection class action alleging that FinanceIt Canada Inc. (“FinanceIt”), engages in unlawful consumer agreements with consumer borrowers. FinanceIt continues to enforce invalid loans against consumers that are alleged to be premised on widespread breaches of consumer protection legislation, among others.
Case Overview
This action alleges that FinanceIt has entered into non-compliant agreements with consumer borrowers and that it has done so in concert with various “Dealer Partners” who sell HVAC equipment, pools and spas, windows and doors, water treatment equipment, roofing and exteriors, home renovations, and similar goods and services. FinanceIt acts in concert with these Dealer Partners, who act as its agents under a sales and loan origination program. They are alleged to have engaged in unlawful business practices that mislead consumers into signing financing agreements in breach of consumer protection legislation, among other laws.
As part of this deception, FinanceIt presents false and misleading financing terms to the consumer at the point of sale using the aggressive Dealer Partner as its agent.
FinanceIt is alleged to have enabled wide-spread fraud and economic loss to consumers, while knowingly receiving significant benefits from these transactions.
The class action is seeking damages and other remedies on behalf of eligible class members.
Case Status
The Statement of Claim was issued on April 7, 2025.
A Motion by the Plaintiffs to Stay “Related Proceedings” to the action is scheduled to be heard on January 9, 2026.
If you brought a lawsuit against FinanceIt, or are being sued by them, and think you may be a member of the proposed class, please contact our office to learn more about the Motion to Stay.
The parties are engaged in a process with the court to schedule the Certification Motion. Further information will be posted as this matter proceeds.
Who Represents Me?
Inquiries should be directed to:
Email: classactions@foremancompany.com
Phone: Kassandra Gauld - 519.914.1175 x 106
Mail: Foreman & Company
Attention: Jonathan Foreman
4 Covent Market Pl
London, ON N6A 1E2
Canada
Court Documents
Statement of Claim -April 7, 2025