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Scottish Trust Deed Forum
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Topic starter
14/10/2013 5:10 pm
I have to laugh every time I see this said as it benefits the trustees more than the creditors in a lot off cases to extend the trust deed when you look at the charges they charge . My wife owed just over 10,000 and by the time she has finished her payments since it is getting extended she would have paid the full amount of £10000 but the creditors will get no where near that amount due to all the charges the trustees have taken .
14/10/2013 5:44 pm
Hi Golfer66.
The fees are agreed with the client and the creditors at the start of the process. Most firms handle this perfectly fairly.
It would be fair to say that a couple of firms seem to have been "milking the system" when it comes to fees and for this reason the government is taking action to try to bring this to an end.
Have your wife's fees been increased above the amount that she agreed to?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
14/10/2013 6:01 pm
To be honest I don't even think we paid any heed to the fees at the start as we were pleased just to be told that we would be debt free in 3 years . It wasn't till I looked at the paper work recently that I noticed we had paid just over £2000 over the year and the fees came to almost £1400 which to me seems way over the top .
14/10/2013 6:23 pm
The fees can seem expensive, they're based on hourly rates as they would be for similar professionals like lawyers or accountants.
Have a look at your initial paperwork if you can and you'll be in a better position to see whether the fees are being charged as you agreed or whether they've crept up for some reason.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
