bankruptcy

August 23rd, 2012 by Questions

How much do they take off your wages to pay your bankruptcy or is it a %

Posted from: British Columbia

Questions

One Response to “bankruptcy”


August 23, 2012 at 9:47 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

When you file for bankruptcy there is nothing that is automatically deducted off your wage. Now there is a cost to file bankruptcy, but there is no automatic percentage. What happens is that the trustee you contact will set a minimum cost, but there is a guideline that is sent to every trustee in Canada that determines if you qualify for the minimum cost and provides a formula to be followed if you don’t.

As you can probably tell it can be a little complicated. So what I recommend is that you contact a local trustee and they will walk you through this.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)