Its very hard to comment with the limited information you have given us,but trustee's fees are documented prior to signing a trust deed. What exactly was the disagreement about,what company is dealing with the TD and have they explained what the extra £1000 has been added for?

Creditors agreed to the trust deed and expected a set return,so if you have had to reduce your payments then extra time can be added to the end of the deed to allow the same agreed amount to be repaid.

Is equity involved in the case?

Paul

No equity involved. initially when i entered the trust deed i had a second job on top of my full time one, i was unable to sustain the two, i therefore asked for reduced payments, on completing a routine form i declared my name was on a bank account belonging to my elderly mother which i had revealed all the details of to thier rep before i signed the trust deed. at that point they advised me i would need to pay half of the money in my mothers account to them, this is when i sought legal advice. The trustee said the additional costs was to cover thier time for letters and phone calls etc

And what is happening to the money in your mothers account?

Thats some expensive letters and calls!!!

Paul

They tried to get me to give them the details of her account saying they just wanted to check the money belonged to her but in fact they tried to freeze her account, but she had already lifted the money and they froze my current account i had no money for almost 8 weeks. as my parents are in thier 80s this was very distressing, as a result she has had to keep her money at home as she is frightened to use a bank now.

Hopefully one of those employed by an insolvency firm will pop in and comment on this,did your paperwork mention your joint account at the start?

Paul

No it was not documented and by the time this had become an issue the person involved had left the company therefore could not verify our conversation, my solicitor made a request to contact her but the trustee would not cooperate with this request. my main concern is the fact they have added extra fees

Hi raemar01.

The trust deed fees might be a bit of a red herring. These are deducted from your contributions so effectively, in some ways, your creditors are bearing the cost.

It sounds like the extension relates to your reduced payments rather than increased fees.

Do you have reason to think otherwise?

The extension does relate to my reduced payments. but the additional fee relates to what i said earlier regarding my having to take legal advice and my trustee having to "put in extra work" this was documented in my annual statement and this was the reason given

Your creditors have the opportunity to dispute those extra fees raemar01, so you might want to weigh up whether it's worthwhile for you to do so as well.

If unforeseen extra work arises it isn't uncommon for a trust deed firm to seek to recover their extra time costs.

To be honest i would be afraid to raise another dispute in case it costs me more money, i cant afford for them to keep adding money and have this go on even longer. but i do intend to make an official complaint once i have been discharged. thank you

I'm not sure their extra time costs are the cause of the extension of your trust deed though raemar01?

Whatever you choose I wish you well.

Thank you and yes you are correct the extension is because i asked for my payments to be reduced and have absolutely nothing to do with the extra costs. I had a dispute with them regarding a seperate matter and i had to enlist the help of a solicitor to deal with my trustee, in the end they did not persue me and they dropped the matter, it was then they added the additional costs. The fact they did not pursue the matter any further wold lead me to believe i was in the right therefore this is the reason i intend to take this further when i am discharged

Are you actually being asked to contribute more in total to cover these extra costs, raemar01? The amount of your contributions is meant to be based upon whatever you can reasonably afford, not dependent on your trustee's costs.

They send me an annual statement and the extra costs were shown on this, i am asuming i have to bear the costs, i did not think the would pay my creditors less to cover these costs