Financeit and VaultPay Loans Class Action
Fighting Back Against Predatory Home Loan Scams
The Advocacy Centre for the Elderly (ACE) is proud to be working with Sotos Class Actions to commence class action lawsuits on behalf of vulnerable homeowners—including many seniors—who allege they were misled into taking out predatory loans through Financeit Canada Inc. and VaultPay, often through door-to-door home services dealers such as Provincial Smart Home Services and JBR Contracting.
What Are the Cases About?
These class actions aim to expose and challenge schemes that have impacted countless homeowners across Ontario. We are asking the court to:
- Cancel the affected loans,
- Order the return of all payments made under those loans, and
- Award other damages for unlawful conduct.
The lawsuits allege that:
- Financeit and VaultPay partnered with high-pressure door-to-door sales companies to market home improvement services—such as HVAC systems, water treatment, or roofing—under the guise of free upgrades or government rebates.
- Consumers were locked into long-term, high-interest loans—often without fully understanding the terms or being properly informed of their rights.
- These agreements failed to comply with consumer protection legislation, charged inflated prices, and often resulted in faulty or unnecessary equipment or services.
- Despite knowledge of fraudulent practices by their dealer networks, Financeit and VaultPay continue to enforce these improvident loans against consumers.
You can read the full Statements of Claim here:
FinanceIt Statement of Claim – April 7 2025 (PDF)
VaultPay Statement of Claim – April 15 2025 (PDF)
Who Is Included in the Class?
You may be part of these class actions if:
You entered into a loan agreement with either Financeit Canada Inc. or VaultPay, through a door-to-door dealer, for home services such as:
- HVAC equipment
- Water heaters or water treatment systems
- Windows and doors
- Roofing or exteriors
- Pools and spas
- Other home renovations or upgrades
Interested in Joining or Getting Updates?
All case updates and information about how to join either class action are available on the Sotos Class Actions website: