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Scottish Trust Deed Forum
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Topic starter
12/06/2012 8:41 pm
Regarding Trust Deeds. What happens if someone comes into some extra money? I know the T.D. companies ask for a percentage of overtime or bonus, but could you end up paying actually more than you originally owed? Would the T.D. company add their fees onto it? For example, if you get PPI or an inheritance, whatever.
Also, do the companies pay the money you pay them each month to creditors, or do they keep it until the T.D. has been fully paid and then pay it to the creditors?
12/06/2012 9:10 pm
Hi Chris
If you inherit it goes into the pot for creditors. It it's a big sum, then the trustee needs to pay debts in full plus 8% interest and costs of trustee. Any balance would be returned.
My own firm pay interim dividends through the trust deed period, but I think most pay after 3 years.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
