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bankruptcy

How much do they take off your wages to pay your bankruptcy or is it a %

Posted from: British Columbia

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One Response to “bankruptcy”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

When you file for bankruptcy there is nothing that is automatically deducted off your wage. Now there is a cost to file bankruptcy, but there is no automatic percentage. What happens is that the trustee you contact will set a minimum cost, but there is a guideline that is sent to every trustee in Canada that determines if you qualify for the minimum cost and provides a formula to be followed if you don’t.

As you can probably tell it can be a little complicated. So what I recommend is that you contact a local trustee and they will walk you through this.