October 3rd, 2011 by Questions
I was wondering if you see one trustee should the amount you pay back be same or different from an other trustee?
Posted from: Ontario
October 03, 2011 at 5:43 am, A licensed trustee said:
They should be essentially the same – the amount you are required to pay in a bankruptcy is based on what you own and your household income. It is a mathematical exercise. If you are thinking about filing a consumer proposal you need to offer the greater of (1) what you’d have to pay if you filed for bankruptcy; and (2) enough to get your creditors to agree to the plan – currently that means about 1/3 of your debt.
Where trustees may differ – office locations, hours of operation, use of technology – preauthirized payments, e-mails, etc.
Often it comes down to being comfortable with who you are speaking to – you will dealing with whomever you choose for an extended period of time. You want to take the time to make sure you feel confident they can handle your case.
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.