Consumer proposal and LIT fees

In Anonymous Q & A, Consumer Proposals, Manitoba, Winnipeg by Questions1 Comment

Hi I have total debt of $75,000 in Credit Cards and Line of Credit. I couldn’t keep up with the payment and I am thinking to put up Consumer Proposal through LIT. Could you please advise me how much will be the fees for LIT, roughly?

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  1. Jillian Taylor-Mancusi
    Jillian Taylor-Mancusi

    Your monthly cost in filing a consumer proposal will depend on the terms of the proposal you put forward to you creditors. When you meet with your local trustee in bankruptcy (as of April, a Licensed Insolvency Trustee) they will look at your debts, your assets and determine the possible options that you may have in dealing with your finances, this may include the filing of a consumer proposal.

    There is a tariff in the Bankruptcy and Insolvency Act that dictates the fees that can be taken in the consumer proposal by the trustee. The fees can be taken from the monthly payments.

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