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Topic starter
13/10/2012 1:12 pm
I have this morning received a copy of a letter from my Trustees being sent to my creditors advising that I have paid £ 27,250 in total, of this they are taking £ 9,670, ie. a third of what I paid! This is to cover 62 hours work plus costs - does this sound reasonable. I know that there would have been plenty of work involved but this seems like a good deal for the Trustees!
Letter also says they are now in a position to conclude the administration providing there are no objections - is this it am I finally after 4 1/2 years nearly there.....
Topic starter
13/10/2012 1:15 pm
Oh another thing I meant to add funny how this all happy when I sent a letter asking for clarification on numerous points and stated that if they weren't in a position to do this, to treat my letter as a formal complaint.......
Topic starter
13/10/2012 2:29 pm
Miscalculated - I've paid just over £ 23,000 of which they are taking £9670
13/10/2012 3:04 pm
Hi WIKIKEE.
The fee seems pretty high. If your creditors didn't agree to this level of fees in the first instance they have options to get them audited.
It does sound like everything is coming to a conclusion for you now which must come as a relief?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
13/10/2012 3:31 pm
Yes I feel relieved that it looks like something is actually happening now. I wouldn't know whether the creditors agreed to the fees or not, but I guess there's no point in making this my problem now 🙂
14/10/2012 10:39 am
Hi WIKIKEE
You or the creditors can object to the fees and have the AIB audit the Trustees accounts.
In 20+ years, I've never seen a fee at this level for a trust deed. I have had trading trust deed cases and the final fees did not approach anywhere near this.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
14/10/2012 6:59 pm
Oh I don't know what to do now! On the what hand, I'm tempted to let it go and if the creditors want to object it's up to them, but I feel that I've had so many issues and problems with them they don't deserve it. Does the hourly rate and number of hours seem reasonable when they break it down I can't believe it took as many hours as it did, I know that they've allegedly sent numerous letters to creditors that haven't been responded to and they've had to chase, but how long does it take to type a letter?! Is there an approximate percentage that we can expect to pay in fees. I know another member on here was querying fees with the same firm but that seems to have caused her no end of problems. I didn't want to name them in case someone from there read this forum and caused me problems but I would like to warn others that I believe they have provided a shocking service.
