November is Financial Literacy Month, a national initiative spearheaded by the Financial Consumer Agency of Canada. To mark this event, we’re sharing some interesting money-related questions (and answers) as asked by you, our blog readers.

Q: What if you ask a debt collector for all the details about a debt in writing and you never get it?

A: By law, debt collectors have to supply you with written details about your debt (refusing to do so would be a violation of our law). That said, it’s possible the debt collector cannot send this letter if they do not have your current mailing address – if that’s the case, you need to give the debt collector that information so they can supply the proper documents.

Q: I recently had a car serviced and was told the battery needed replacing. I was charged $317.99 and later found out I could have bought the same battery for $134.10. Do I have any recourse?

A: It depends on the business’s return and refund policy, as auto repair shops are not regulated in BC. Have a read of the agreement you signed with the business (or your sales slip or invoice) – if you have any rights to a refund, it’ll likely be included in those documents. I hope that helps!

Q: My husband and I got a new truck. Sadly, we have to give the truck back to the dealership. We bought it a week ago. Is there a 14-day cooling off period between us getting it and giving it back?

A: According to the Vehicle Sales Authority of BC, “there is no return or cooling-off period for the purchase or financing of a vehicle.” You could check with the dealership to see if they have a specific policy that speaks to returns, or contact the Vehicle Sales Authority of BC directly, as they look after the laws that speak to car dealerships and salespeople.

Q: Can you confirm that in BC, you can have an expiry date on a service – for example a massage? Just not on a dollar amount. Thank you.

A: You got it! Gift cards for specific services, such as a massage, can expire, but gift cards for a general dollar amount (such as $100 to a spa) cannot.

November is Financial Literacy Month in Canada. All month, organization from across the country come together to shine a spotlight on the importance of financial literacy and share useful information, self-help tools and tips. If you have a question about your debt collection, debt repayment or payday lending rights or responsibilities, visit our website or leave a question below!