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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Trustee Fees

I am going to be filing a consumer proposal soon. What are the trustee fees? IE if my total debt is about $51 000 and I will be offering $350.00 for 4.5 years is it reasonable that the fees would be in the $5000 range? with about $13 000 going to the creditors.

Posted from: Alberta

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One Response to “Trustee Fees”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

The administration fees in a consumer proposal is set by a tariff in the Bankruptcy and Insolvency Act and they fluctuate with the amount that is being offered to the creditors. The formula essentially involves two one time draws of $750 and 20% of what is distributed to your creditors. Based on the numbers you have provided I anticipate the fee would work out to about $5600.