Farber.ca Pricing

Farber.ca’s pricing structure for its core services, primarily consumer proposals and bankruptcies, is not presented as a simple fixed fee on the website, nor is it a typical subscription model. Instead, the costs are generally governed by Canadian insolvency law and are specific to each individual’s situation. The website provides general information and examples, but precise pricing requires a consultation.

How Fees for Consumer Proposals and Bankruptcy are Determined

The fees charged by Licensed Insolvency Trustees (LITs) for administering consumer proposals and bankruptcies are regulated by the Office of the Superintendent of Bankruptcy Canada (OSB).

• Consumer Proposal Fees:
  • Part of the Proposal: The LIT’s fees for administering a consumer proposal are typically included as part of the total amount offered to creditors in the proposal itself. This means you do not pay the LIT’s fees on top of your proposal payments; rather, a portion of each payment you make to the LIT goes towards their fees, and the remainder is distributed to your creditors.
  • No Upfront LIT Fee (usually): Generally, LITs do not charge large upfront fees for consumer proposals. The payments are integrated into your affordable monthly payment plan.
  • Example from Website: The website’s example shows “Before $889 After $116” for a $35,000 debt over 60 months. This “after” payment of $116 includes the LIT’s administrative fees alongside the reduced principal paid to creditors.
  • Variable Costs: The total cost will vary based on the complexity of the file, the amount of debt, and the specific terms agreed upon in the proposal.
• Bankruptcy Fees:
  • Regulated Minimums/Maximums: The fees for basic bankruptcy administrations are often set by tariff under the Bankruptcy and Insolvency Act. For a first-time bankrupt individual with no surplus income, the fees are usually fixed.
  • Additional Costs for Complexity: If a bankruptcy case is more complex (e.g., involves surplus income, assets that need to be sold, legal disputes), the LIT’s fees might be higher, requiring approval from the OSB or the court.
  • Initial Deposits: In some cases, an LIT might request a small initial deposit to cover immediate administrative costs, but the bulk of the fees are typically collected from the bankrupt individual’s surplus income payments or the sale of non-exempt assets.

Debt Counselling and Consultation Costs

• Free Consultation: Farber.ca explicitly offers a “FREE consultation.” This means the initial assessment of your financial situation and the discussion of your options come at no cost to you.
• Debt Counselling Fees: If you opt for ongoing debt counselling services (outside of a formal insolvency filing), these might involve separate fees. However, the website does not detail specific pricing for this, suggesting it’s likely determined during the consultation based on the scope of services needed.

Transparency in Fee Disclosure

While not listing specific dollar amounts on the website (because they vary per case), Farber.ca’s process dictates that all fees will be clearly explained during the free consultation. As regulated professionals, Licensed Insolvency Trustees are required to fully disclose all fees and costs associated with their services before you commit.

What to Expect Regarding Price Information

• Personalized Quote: You will receive a personalized outline of costs and payments after your free consultation.
• Regulated Fees: Be assured that the fees are regulated and not arbitrarily set, providing a layer of consumer protection.
• Integrated Payments: For proposals and bankruptcies, the LIT’s fees are typically integrated into your payment plan, rather than being a separate, large lump sum.

In essence, Farber.ca’s “pricing” is less about a fixed price tag and more about a legally structured and regulated fee for professional services that are tailored to your specific debt situation. The initial step to understanding these costs is always their free, no-obligation consultation.