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Scottish Trust Deed Forum
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Topic starter
17/01/2013 8:21 pm
So I received a letter from my lovely friends at KPMG [:(!].
I'm very confused by it to me it's a letter to the creditors I owed the money to. However there's a few paragraphs on the second page entitled "summary if progress to date" which is worrying me immensely. There's three paragraphs entitled Notes and they say the following...
1. The debtor has contributed their surplus income on a regular basis. However, in December 2012, payments were to increase from £301 to £322 but the debtor has failed to increase his contribution payments. The Trust Deed will be extended to collect all contribution payments and their financial circumstances will be monitored on a regular basis.
2. Cost of administration as anticipated to exceed those estimated at the outset of the trust deed due to additional administration required to correspond with the debtor regarding their outstanding contribution payments.
3. Where the debtor is not VAT registered any VAT paid will be shown as irrecoverable expense.
What? I mean honestly don't know where to begin. Payments were to increase? Admin fees to get in touch with me regarding outstanding payments? Really? I'm absolutely gutted and in tears here.
Can anyone shed any light?
Trust Deed started January 2010.
Finished January 2013.
17/01/2013 8:24 pm
December 2012 isn't even 3 weeks ago, if the payment was to increase by £21 it would be really interesting to see how much extra they intend to charge for this. Aren't the fees supposed to cover a certain amount of admin?
Saabrina
Topic starter
17/01/2013 8:27 pm
I wasn't even aware I was due an 'increase' tbh. When I spoke to the girl she said my last payment would be January 2013 and then I could cancel my standing order.
The whole thing stinks! They have included a table of numbers and looking at it it looks to me like they are extending this thing! Why are they doing this to me? I'm livid!
Trust Deed started January 2010.
Finished January 2013.
18/01/2013 8:49 am
Hi Slayervixen.
It looks as though, at the worst, there might be a relatively small sum of money to pay over.
It also looks as though your trustee is seeking to increase their fees over the amount initially proposed to creditors.
I'm not sure that any of this will cause you too many problems.
Maybe give them a call to get their side of it?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
18/01/2013 9:39 am
Thanks for the reply TDA.
I'm going to call them today as I've been up all night thinking about this. From what I see on the letter they are looking for £343 from me which I'm afraid I won't be paying.
They changed my original fees after a year and abit from £280 to £301 and since that happened there has been absolutely no mention of an increase in any way, shape or form.
I spoke to a girl at KPMG on November and she stated both verbally and in writing that I only had £602 to pay and then I could cancel my standing order. I paid £301 in December and January so that balance was then cleared.
I'm so fed up of the whole thing.
Trust Deed started January 2010.
Finished January 2013.
