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cost of bankruptcy in Ontario
Question: does it cost money (is there a fee for example) to go bankrupt in Ontario?
Answer: Yes, there is a cost to file bankruptcy in Ontario.
You will be required to make a monthly contribution while bankrupt (for at least nine months), which depending on the trustee could be in the range of $200 to $250 per month. This covers the trustee’s cost to administer your estate.
You will also be required to make surplus income payments if your income exceeds the limit set by the government. Finally, you will also lose your tax refund and your HST credits while bankrupt.
You can read a detailed explanation in our article on How Much Does it Cost to File Bankruptcy in Ontario?
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