Trustee Fees

January 15th, 2009 by Questions

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


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.

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