The interest rate that can be charged on the debts listed in your voluntary deposit statement is limited to the legal rate of 5%.

The difference between the contractual interest rate (for example, the rate stated in your contract of purchase) and the legal rate cannot be claimed by your creditor.

Interest at the rate of 5% is calculated starting on one of the following dates, depending on your specific situation:

  • the date on which your list the debt concerned in your voluntary deposit declaration, if you creditor’s claim was filed within the time limit set by law;
  • the date on which your creditor files a claim, if this is not within the time limit set by law.

It is important to note that there is no exception for tax owed under the Act respecting the Ministère du Revenu. Interest on the amount owed is charged at the legal rate.

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