FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Consumer Proposal Process and Fees

1. – If the process is handled by a Licensed Insolvency Trustee, do they handle all communications with creditors? I want to avoid the stress of doing it myself.

2. – Are trustee fees the same everywhere? Is there a fee schedule?

Posted from: Ontario

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One Response to “Consumer Proposal Process and Fees”

A licensed trustee said...

If you file a proposal to creditors it MUST be handled by a trustee and they are responsible for communicating with your creditors and yourself. Think of the trustee as a sort of referee.

Trustee fees are set out in the law – we are paid a preparation fee of $1500 and 20% of all funds disbursed to your creditors during the proposal.

Be very careful who you speak to – if the person or comapny you are dealing with are NOT licenced trustees and they ask for a fee then you are wasting your money. After you pay their fee you will still have to go and deal with a trustee in order to file the proposal. Save your money – go and see a trustee directly.