2024-09-25
What happens if I don’t fulfill my duties during a Bankruptcy?
Bankruptcy
If you’re going through a personal Bankruptcy, one of your main goals is to obtain your discharge — that is, to have your debts cleared so you can start fresh.
Cost Of Bankruptcy: How Much Does Filing For Bankruptcy Cost?
Watch the video or continue reading below.
Trustee fees, filing fees and counseling fees are regulated by the government.
The trustee fee may be paid out of the funds arising from the liquidation of the bankrupt's assets. If the bankrupt has no assets available, then the trustee will require a retainer or require the bankrupt, over time, to pay the trustee's fees and disbursements.
For more information on fees when filing for bankruptcy, please contact Melanie directly.
Melanie Fuller
CIRP, LIT
Senior Vice President
Servicing: London Southdale, St. Thomas, Clinton, London Southdale, London (Queens), Sarnia, Strathroy
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Canadians are facing a cost-of-living crisis. With rampant inflation, many have taken on more debt just to make ends meet. With interest rates still high, some households might be considering declaring Bankruptcy for the first, second, or even a third time.
If this sounds like you, don’t worry — many people are in the same situation, and it isn’t anything to be ashamed of. Filing for Bankruptcy or entering a Consumer Proposal might be the solution you need to relieve financial stress and get a fresh start.
