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Scottish Trust Deed Forum
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Topic starter
15/01/2012 6:08 pm
After reading Hunt8's thread on the duration of the PTD and the impact of fees, I need to clarify something.
I was told that the IP fees are likely to be round £8000 per person regardless of Bankruptcy or Trust Deed option. If 10% were required of the debt outstanding on top of this, the figure for running a PTD ends up impossible for us which is why we expected sequestration to be necessary.
Are the fees higher for bankruptcy than PTD generally or is it always a variable depending on the firm.?
15/01/2012 7:48 pm
Hi Pamjo
£8000? I have never known a fee anywhere near this in a Trust Deed.
Bankruptcy fees are generally a bit more and the outlays are more, but not tho this extent.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
15/01/2012 10:46 pm
hmm-I need to 'ungather' most of the info I've had methinks. Thanks Mark
15/01/2012 11:17 pm
Pamjo, I think the rough guide for fees is an average of £4k. Certainly no more than 5k from the info I have read unless there are exceptional circumstances.
16/01/2012 9:42 am
Hi custardcream.
The firms represented here by Mark, Kevin and Shona have told us that their fees for running a trust deed will typically vary between £2500 and £4500 depending on circumstances. On top of this are some costs as well (like a valuation for example, or advertising the trust deed in the Edinburgh Gazette).
£8000 really is a lot.
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