Is working with a trustee free?

Hello, I was wondering if hiring and working with a trustee costs me money. In fact, I’d like to know if there are any fees I need to pay other than the monthly debt payments. Thank you.

Posted from: Ontario

One Response to “Is working with a trustee free?”

A licensed trustee said...

Consulting with a trustee is almost always free, but if you decide to file for bankruptcy there will be a cost. The minimum, based on the OSB’s rules, is $1,800 – most people cover these costs by making monthly payments during their bankruptcy.

There are no monthly debt payments if you file – all payments towards your unsecured debts stop as soon as you file.