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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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consumer proposals and trustee fee

The trustee I am seeing said the fees are $6000, does that seem reasonable?

Posted from: Ontario

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One Response to “consumer proposals and trustee fee”

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.