Fees for trustees


I have been reading all the questions and am a little confused as to the fees.
I`ve read that… `The prepartion fee is $1,500 and then your trustee will receive 20% of any money distributed to your creditors`.

With the 20% issue, wouldn`t the trustee want to make me pay back as close to 100% as I can? How do you trust that they are giving you good advice when they make money only if you go through with the proposal?

Thank you

Posted from: Nova Scotia

One Response to “Fees for trustees”

A licensed trustee said...

Every professional person that younhire has this same problem – if you see a dentist they only get paid if they have to do work on your teeth. If you hire a lawyer they get paid by the “minute” so you are always wondering if they are taking their time…

If you are concerned that perhaps you are not receiving good advice then vefore you file with a trustee go and speak to another one. You should receive the same information and list of options to deal with your situation. Once you’ve seen two, choose the one that you have more confidence in…