One Trustee over an other
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
One Response to “One Trustee over an other”
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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.