What happens to my stuff if I can’t pay for my self-storage container?
As this last year has demonstrated, life is not always predictable.
When signing up to any contract, it is always important to be aware what may happen if things go wrong, and you can’t pay. Any reputable company should have transparent terms and conditions that cover this, and you should read these carefully before signing.
We’ve outlined the general process that a self storage company is likely to follow. We would always strongly recommend that you speak to the company at the earliest opportunity if you are having financial difficulties.
If you can’t continue to pay for your self storage container rental, you will be in breach of your contract with your supplier.
What happens next will vary from company to company. Generally you are likely to lose access to your container and whatever you’ve stored inside it. You may also be denied access to the storage compound itself.
Your supplier is likely to have the right to hold on to your goods and — if you remain unable to pay the debt — sell your stuff. And unfortunately it may not end there. If the money raised by selling your things doesn’t cover what you owe, you’re still liable to settle the debt.
It’s always wise to read the terms and conditions carefully before signing any contract. It’s no different with container self-storage. And if you should fall behind with your payments, it is always best to let the company know that you are having difficulties. You can see if you can agree a payment plan with them.