January 31st, 2012 by Questions
I recently made an appointment with a Debt consultant regarding my financial situation. It was recommended that a Consumer Proposal would be in my best interest. I was surprised that I would have to pay the Debt consultant $2000 in fees in order to go ahead with the proposal. I had never heard of this and thought the fees were absorbed in the proposal. Could you clarify the cost of a consumer proposal to the individual. Thanks!
Posted from: Ontario
One Response to “Fees”
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January 31, 2012 at 8:21 pm, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
The problem is that you met with a debt consultant instead of going directly to a licensed trustee. In order to be legally qualified to administer a consumer proposal you have to be a licensed trustee. Now if you went directly to a trustee then all the fees are absorbed in the proposal as you thought, it is only if you employ the help of an outside agent will you be charged anything in addition. So my recommendation, contact a local trustee, arrange for a free consultation and file the paperwork directly with the trustee’s office. This will save you the $2000.00 or whatever the consultant’s fee is.