consumer proposals and trustee fee
July 29th, 2009 by Questions
The trustee I am seeing said the fees are $6000, does that seem reasonable?
Posted from: Ontario
One Response to “consumer proposals and trustee fee”
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July 30, 2009 at 8:07 am, A licensed trustee said:
A trustee fees for filing a consumer proposal have been set by the government. The prepartion fee is $1,500 and then your trustee will receive 20% of any money distributed to your creditors.
For example, if your proposal terms have you repaying your creditors $9,600 ($200 a month for 48 months) your trustee will be paid the first $1,500 as the preparation fee and then 20 % of the amount they send out to your creditors (in this case that would be roughly another $1,600).
You should be able to use this information to determine what your trustee’s fees will be.