Do I have to pay a minimum portion of the debt I owe?

Do I have to pay a minimum portion of the debt I owe?

Do I have to pay a minimum portion of the debt I owe?

Not in a bankruptcy.

In bankruptcy, you only pay a basic amount for fees, or an amount based on calculations regarding your family income, based on the guidelines published by the Office of the Superintendent of Bankruptcy.

Many assets are exempt from seizure by the Trustee, but for those that are not, the Trustee has a legal obligation to obtain the cash value of those assets.  You may decide to repurchase those assets from the Trustee over time, or request that the Trustee cash them instead

Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form. Thank you. To learn more please visit our YouTube  Channel.

Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.

 

Share This Post

Read more from our blog