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Scottish Trust Deed Forum
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Topic starter
13/02/2014 12:28 pm
Interesting stance being taken by one of the creditor representative bodies. The 2013 Regulations state that dividends require to be paid to creditors after month 24, however the creditor representative are seeking payment from month 13 which, to be honest, makes sense.
If the trustee agrees to the earlier payment, then they will agree an enhanced fee for the additional work involved.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
13/02/2014 1:33 pm
That sounds like a win-win Mark.
Better fees for those trust deed providers that are equipped to distribute money to creditors sooner and cash received sooner by the creditors.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
13/02/2014 1:54 pm
Hi TDA
I think your right. Trust Deeds appear to be changing to the IVA format for ongoing dividend payments. We're fortunate that our system pays interim dividends to creditors rather than wait till the end.
Just checked our own system and we've paid out £730k to creditors.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
