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Public trustee fees

I had my first free consultation with a public trustee. We came to the conclusion that I have to apply for division I proposal. I was asked to gather some documents and a draft of $3000 to the public trustee.

Is that how it work?

Posted from: Manitoba

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One Response to “Public trustee fees”

A licensed trustee said...

There are two types of proposals that people can file. We spend most of our time on this website talking about consumer proposals – these are the most common type and they are for people with less than $250,000 in debts (excluding their mortgage). The fees for consumer proposals are set out in the law – they have been fixed by the government.

Division I proposals are used when people have higher debts and more complicated situations. The fees for a Division I proposal are not set by the government – in most cases you will be charged by the hour.

So you have something to use as a comparison, we normally charge people a fee of $6,000 to prepare a Division I proposal. If the trustee you have been speaking to has asked for $3,000 it is likely a retainer in order for them to get started. You want to make sure you undersatnd how you are beig charged and how much the procedure is likely to cost BEFORE you commit to the process.