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Topic starter
20/05/2013 8:12 pm
Hi there, I hope someone can help me out. I have been paying my PTD FOR 4 years now (equity in our home) has caused this to drag on. Anyway, I did some PPI claim backs and have gotten approx £9000. This has gone to my Trustee nearly 2 months ago and I'm getting no reply from them as to how long it will take to close and send me any monies I am now owed from this. So far I've paid back £7000 from an initial debt of £10000, I reckon, that the trustee should take £3000 and give me the balance but I'm struggling to get answers from them to confirm if this is the case and how long this will take. I feel 2 months is quite a long time not to be getting a response to these basic questions. Am I being unreasonable?
Thanks [:(!]
20/05/2013 8:27 pm
Which company is the td with?
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
20/05/2013 8:43 pm
Hi Ann and welcome.
The most you'll have to pay in total (including monthly payments, equity payments and PPI payments) will be:
1: The original debts.
2: Interest on the debts.
3: The fees and costs for managing your trust deed.
Your trustee should be able to tell you if you have now met this threshold or not.
You're not being unreasonable at all asking for answers so you know where you stand, but it isn't as straightforward as paying in total the amount that you owed at the start.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
20/05/2013 9:07 pm
quote:
Originally posted by Trust Deed Assistant
Hi Ann and welcome.The most you'll have to pay in total (including monthly payments, equity payments and PPI payments) will be:
1: The original debts.
2: Interest on the debts.
3: The fees and costs for managing your trust deed.Your trustee should be able to tell you if you have now met this threshold or not.
You're not being unreasonable at all asking for answers so you know where you stand, but it isn't as straightforward as paying in total the amount that you owed at the start.
Topic starter
20/05/2013 9:12 pm
Hi, thanks for the response, how is interest usually calculated and how long would this usually take?
Thanks[:)]
Topic starter
20/05/2013 9:14 pm
Does the company you are with make a difference?
Thx
20/05/2013 9:29 pm
Hi Ann.
Interest might be based on the original contractual rates or possibly using an 8% figure. I believe that a trustee has discretion on that.
Different trust deed providers charge different amounts in fees. It's likely to be several thousand pounds.
It shouldn't be hard to give you a ballpark total figure.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
20/05/2013 9:43 pm
Thanks, I thought this would be the case.
20/05/2013 11:27 pm
If your trust deed has been running for 4 years already then I wouldn't be surprised if interest and fees added up to enough to mean that you will get very little, if anything, back from your PPI claim I'm afraid Ann.
That said I don't see why it should take them so long for you to get answer to this from your trustee
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
21/05/2013 10:37 pm
Hi Mark,
I kind of guessed this. If the banks hadnt ripped me off in the first place with PPI, whoknows, maybei wouldnt have had £10k of debt that I struggled to pay. Irresponsible lending I think. Anyway, finally light at the end of the tunnel!!
