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refunds from a trustee

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(@pinalta)
Reputable Member
Joined: 13 years ago
Posts: 315
Topic starter  

Has anyone ever got any money back from a trust deed if it turns out that they have paid over and above what they should have ?, comments please.


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Hello pinalta.

I'm not familiar with a scenario in which that has happened, though that doesn't mean it hasn't or couldn't.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@pinalta)
Reputable Member
Joined: 13 years ago
Posts: 315
Topic starter  

Intresting indeed , thought there might be a ruling some where that you may be entitled to get back money which has been overpaid as the fiqure that you were told to pay was not factual. And if that money had already been used to pay creditors and trustee's fees what then ?.


   
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(@plasticdaft)
Noble Member
Joined: 16 years ago
Posts: 1594
 

Do you mean having paid back 100p in the pound of the debt,or paying back more than you originally thought you were going to pay?

Remember that you always owe the full amount of your debts until the trust deed is finished,only then is anything written off.

If your disposable income increases during a trust deed you may be asked to pay more into it that originally planned,also if you were to be left a sum of money in a will,that would be captured as a windfall with funds going into the pot for creditors.(if the sum was more than your original debt plus fees at this point you would be entitled to get money back).

Paul

Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.


   
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(@pinalta)
Reputable Member
Joined: 13 years ago
Posts: 315
Topic starter  

ok , understood.


   
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(@charlie1958)
Trusted Member
Joined: 14 years ago
Posts: 81
 

A refund from a Trustee!!!! Surley unprecedented!


   
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Kevin Mapstone
(@kevin-mapstone)
Member Admin
Joined: 16 years ago
Posts: 4253
 

I think it would only happen in cases where an unexpected windfall came into the trust deed and was sufficient to pay off the debts (plus interest) in full and the costs of the trust deed - eg lottery win, inheritance, PPI claim etc

Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.


   
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