September 1st, 2012 by Questions

What are the fees in declaring Bankrupcy?

Posted from: Ontario


One Response to “Fees”

, A licensed trustee said:

Trustees are not allowed to advertise fees, but you should expect to pay $1,800 or more to file.

What actually happens is your trustee is paid a tariff – a percentage of whatever money is collected during your bankruptcy. In cases were it looks like there may not be much money collected trustees usually require you to pay $1,800 to cover their costs. From that $1,800 the trustee receives roughly $1,200 as fees, the rest covers Court and government costs.

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