Does The Trustee Charge Extra Fees or A Consultation Fee?

The Initial Consultation With The Trustee Is Always Free!

It’s a common misconception that engaging the services of a Licensed Insolvency Trustee (LIT) will lead to a pile of additional fees. Many people, already under financial pressure, are wary of hidden fees and charges. However, when it comes to dealing with a LIT, the reality couldn’t be further from this misconception.

No Upfront Fees

One of the most frequent concerns is whether a Trustee charges an upfront fee. Unlike dealing with car dealers or mortgage brokers where upfront fees are common, a Trustee operates differently. There are no upfront fees when you engage a LIT.

No Extra Add-on Charges

The fear of extra add-on charges is another concern. With many service providers, hidden charges mysteriously appear on your bill. However, a Trustee’s fees are transparent and regulated by the Bankruptcy and Insolvency Act (BIA).

No Hidden Fees

The phrase ‘hidden fees’ instills fear in many individuals seeking financial advice. However, with a Trustee, this fear is unfounded. You won’t find any hidden fees lurking in the shadows.

Why Should you Choose a Trustee?

Licensed Insolvency Trustees are regulated and their fees are dictated by the BIA. This means the fees they charge are not only transparent but also fair.

Transparent Process

The process of dealing with a Trustee is transparent. All fees are disclosed to you before you sign or agree to anything. This ensures you know exactly what you’re getting into.

Flexible Payment Options

LITs offer flexible payment options. You can pay these fees over a predetermined period, making it easier to manage your finances.

No Early Payment Penalties

In the case of a consumer proposal, you are encouraged to pay off your proposal early, without any penalties or interest fees. This could help you rebuild your financial life faster.

The Process

Engaging with a Trustee is straightforward. Your monthly payment is confirmed by you before you sign any paperwork. This means you know exactly what you’re going to pay.

You make no payments until you decide to proceed. The Trustee then files your paperwork with the Federal Government, and you get the legal protection you need.

A Fresh Start

A Trustee provides an opportunity for a fresh financial start. With no hidden fees, flexible payment options, and no early payment penalties, you can plan your financial future with confidence.

Conclusion

In conclusion, a Trustee does not charge extra fees or a consultation fee. The services of a LIT are regulated and transparent, ensuring you’re not hit with surprise charges.

Reach Out Today

Don’t let fear of hidden fees hold you back from seeking help. For a fresh financial start, reach out to one of the 80+ debt help offices across Canada. They’re here to listen and to help.

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