March 23rd, 2007 by Questions
What is the trustee’s tariff? How much can they charge?
March 27, 2007 at 3:12 pm, Barton Goth GCO Bankruptcy Trustees said:
The tariff that is used to calculate the trusteeâ€™s fees in a summary administration bankruptcy comes directly out of the Bankruptcy and Insolvency Act and is dependant on the total receipts in any estate (i.e. monthly payments, tax refunds, sale of non-exempt assets, etc.). Essentially what happens is that of the total receipts on hand the trustee will receive 100 per cent of the first $975, 35% of the receipts exceeding $975 but less than $2000 and 50% of any receipts exceeding $2,000.
For more information on why and how this tarrif is applied you should contact a local trustee and they will be able to walk you through this.
Log in to Reply
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.)
You must be logged in to post a comment.