How to Stop CRA Garnishment After Receiving an RTP Demand Payment Letter

Ever felt the stress of unexpected financial setbacks? How to stop CRA garnishment is a question many Canadians face when dealing with debt issues and a RTP (Requirement To Pay) from the Government of Canada. Understanding the steps to halt this process can alleviate a significant amount of stress and help you regain control over […]

How Many Times Can You Do A Consumer Proposal

Ever felt like you’re stuck in a financial maze with no exit in sight? Debt can weigh you down, making every day feel like an uphill battle. But what if there’s a way to reset and start fresh? How many times can you do a consumer proposal? The straightforward answer is that you can file […]

Who Can Put a Lien on Your House in Canada?

Liens can significantly impact property ownership in Canada, often catching homeowners off guard. Understanding liens—what they are, the types that exist, and who can place them on your property—is crucial for any homeowner. This article unpacks the complexities of liens, explores potential lien holders, and discusses the consequences they can have on property sales. It […]

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Trustee Fees

I’m making a proposal for approximately $20,000 to my creditors, which represents about 25% of my debt. The trustee fee is going to be 8,500 on top of this amount. This seems high to me considering there’s nothing complicated about my situation. Is this an average fee?
Thanks.

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One Response to “Trustee Fees”

A licensed trustee said...

There are no stated “fees” per se – althought most trustees rquire you to pay approximately $1400 to cover the basic costs of administering your file.

Most people pay monthly becuase the actual amount you are required to pay can vary dpending on your income.

In your case, with no income (unless you start working during the bankruptcy) I suspect your trustee will allow you to repay the full amount.