(minimum estimates only - each option subject to application and further review)
(bank or loan company)- using an average of 18% interest rate compounded annually.
(non-profit agency/credit counselling) - fees range 5-10%
(Bankruptcy and Insolvency Act)- 0% interest, with only principal repayment - unless lump sum, minimum amount offered is $100 a month over 60 months.
**estimated recovery to creditors varies based on terms of proposal**
(Via Bankruptcy and Insolvency Act)
*payments in this process can vary based on assets recovered by the Licenced Insolvency Trustee, and payments subject to change based on monthly income and expense reports
'* payments per month in these options can decrease or increase depending on income and assets, the current formulas used are based on income being below the Surplus Income guideline, as established by the Office of the Superintendent of Bankruptcy.
All the above information is for demonstration purposes and Goldhar & Associates is not liable for the accuracy of the information provided. For more information contact us and obtain a FREE consultation with a staff member of the Licenced Insolvency Trustee.