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MONIES RETURNED?

I was informed that AFTER THE DISCHARGE DATE that certains monies -HST CHEQUES excetera, might be returned to me. perhaps from an overpayment on fees?
What sources would these monies come from and what am I entitled to.

Posted from: Ontario

One Response to “MONIES RETURNED?”

A licensed trustee said...

Your trustee is required to return any GST/HST rebates they may have received on your behalf if the total amoutn of money collected in your bankruptcy exceeds certain government limits (it is around $1700, but varies a bit on a case by case basis).

In addition, if there is money “left over” after all of your debts have been paid in full ny your trustee those moneys will be returned.

In most cases, the GST/HST and any overpayments are not returned until the trustee closes their file (that may be a year or more after you are discharged).

In our practice we no longer take clients’ GST/HST – when they file bankruptcy with us we immediately advise the government that the client can keep these payments.

Ask your trustee how they handled GST/HST BEFORE you file.