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Financial Fitness – How Much Does it Cost?

Each individual’s financial situation is unique. There are a few factors that determine how much you will need to pay in order to complete a summary administration bankruptcy or a consumer proposal filing. Payments under a consumer bankruptcy proceeding are typically set by governing bankruptcy legislation and will include surplus income obligations and/or repayment of non-exempt assets owned by the debtor. In a consumer proposal filing, payments are determined by the terms of the proposal. In both proceedings the fees that the Trustee can take for administering the file are prescribed by tariff in the Bankruptcy and Insolvency Act. The amount and timing of any payments can be discussed more fully during your free initial consultation with a Trustee in Bankruptcy when all your options are being explored.

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