If you experience a service interruption due to payment defaults, or if you are subject to legal seizure of essential goods, you may be able to draw on your RRSP+ with the Fonds. Debts related to the following goods and services are eligible:
- the shareholder’s or their spouse’s vehicle;
- the shareholder’s or their spouse’s salary;
- the principal residence;
- public utilities at the principal residence.
The shareholder must not qualify for any other criterion of the Purchase-by-Agreement PolicyAND
must show that the recourse jeopardizes the shareholder’s and/or their spouse’s salary or automobile, the principal residence or a public utilityAND
must have liquidated all redeemable investments (including any other RRSP), the purchase of the shares being the last resort.
The Fonds de solidarité FTQ form which includes a statement by the shareholder
explaining the reasons underlying the recourseAND
confirming that they have the necessary amounts to pay the balance if the redemption of the shares is not sufficient to avoid the recourseAND
attesting to their financial inability to pay the recourseAND
proof of the recourse against the following assets or essential services
For the shareholder’s or their spouse’s salary
- formal demand for payment from a government
- a judgment against the shareholder ordering the payment of a sum of money
proof that the shareholder or their spouse has a garnishable salary.
For the shareholder’s or their spouse’s automobile
- notice of loss of benefit of a term with lease agreement
- repossession notice
- notice of seizure of the vehicle following a court order
For the principal residence
- final notice from the hypothecary creditor
- prior notice to exercise a hypothecary right
- motion for mandatory relinquishment or court order
- a duly-served demand from the Régie du logement
- final notice for overdue municipal and/or school taxes
For a public utility provided to the principal residence
notice of service interruption from the relevant public utilityAND
if the recourse is directed only at the shareholder’s salary and/or automobile proof that all of the shareholder’s redeemable investments have been liquidated and used up to pay part of the recourse or that the investments cannot be redeemed.
if the recourse is directed at the principal residence, a public utility or the spouse’s automobile and/or salary proof that all redeemable family investments have been liquidated and used up to pay part of the recourse or that the family investments cannot be redeemed.
All shares held.
Subsequent share acquisition:
One year after purchase by the Fonds de solidarité FTQ.
Disbursement terms and conditions:
A single net payment equal to the amount necessary to repay the amount due or a substantial part thereof.
Cheque payable jointly to the shareholder and the creditor.