March 23rd, 2007 by Questions
What is the trustee’s tariff? How much can they charge?
One Response to “trustee’s tariff”
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March 27, 2007 at 3:12 pm, Barton Goth GCO Bankruptcy Trustees said:
The tariff that is used to calculate the trusteeâ€™s fees in a summary administration bankruptcy comes directly out of the Bankruptcy and Insolvency Act and is dependant on the total receipts in any estate (i.e. monthly payments, tax refunds, sale of non-exempt assets, etc.). Essentially what happens is that of the total receipts on hand the trustee will receive 100 per cent of the first $975, 35% of the receipts exceeding $975 but less than $2000 and 50% of any receipts exceeding $2,000.
For more information on why and how this tarrif is applied you should contact a local trustee and they will be able to walk you through this.