Due to the explosion in interest rates in particular, the demand for bailiff services has increased, and many people find themselves evicted because they can no longer afford their house.
This is the case in an office in Chicoutimi.
“It’s a lot more individuals or businesses, but we have an increase in funds, law offices, and banks as well, which give us eviction mandates,” explained Andréanne Duval, bailiff. of justice.
“We often have to do evictions because people are no longer able to pay for their house. Interest rates have exploded in recent months, so it also appears at the level of people who are in debt,” she added.
Ms. Duval must execute court judgments, which cover different sectors. Tenant evictions are becoming more and more frequent.
“There’s a lot of movement in that area, unlike last year when it was a little quieter in terms of expulsions, voluntary surrenders and all that. We have judgments because people are no longer able to pay their vehicle, their rent and their house,” continued the bailiff.
With inflation and the increase in interest rates, she also notices that new people are using her services.
“There are often people who have to deal with bailiffs for the first time, because they have never had any problems or anything with tenants or whatever, and then they come to see us,” said she detailed.
Despite the economic situation, a trustee confirms that for the moment, there is no increase in finance repossessions for houses.
“The increase in interest costs brings enormous stress to the budget for everyone who was or is the owner of a house. Today we have not yet seen the impact in terms of financial recovery,” explained the trustee.
“Financial institutions are very accommodating. No one wants to have a large lot of houses on their hands that would only lower the price, so they will increase the amortization period to try to see how they can refinance while taking advantage of the capital gain,” he said. He specifies.
Desjardins also confirmed by email to TVA Nouvelles that, generally, when members begin to encounter financial difficulties, they sell their house themselves given the financial gain they can make.
