January 6th, 2010 by Questions
I have been in bankruptcy for 5 years, but my circumstances have changed due to a major creditor dropping their claim in full. Now I`m able to pay my remaining creditors 100% on the dollar, through a `reverse mortgage` on my home. My trustee says that over the past 5 years he wants $15,000 from me over and above the 100% on the dollar. My question is shouldn`t the trustees fees come out of the 100% on the dollar offer before they get paid? The remaining creditors would get approx. $36,000 at 100%, adding in an additional $15,000 would make my reverse mortage $51,000.
Please help me understand I don`t know if this is fair,I don`t know who else to ask.
Posted from: Ontario