Thank you so much for outlining that for me. I believe the paperwork is being sent out to me today so when I receive it i will read it thoroughly and will post back to say what it states there. I don't believe I am being misled by KPMG I just want to try and ensure I am going down the right route and not missing anything or going to have a larger bill later down the line. Thank you to everyone for all responses and assistance.

I don't think there's any suggestion of that utteridiot. Trust deed companies are free to set their fee levels as they see fit and it's a business decision for them where they set them.

The fees are of relevance to creditors and the client as well though for the reasons outlined. That's why we suggest that anyone considering starting a trust deed takes a significant interest in the proposed fee level before signing up with any firm.

Hi TDA

I like the diplomacy. In my opinion the contribution is set by income less expenditure and then should be viewed as a full picture to see if the Trust Deed is workable in the normal 3 year period. As TDA states, howabout reducing the fees to allow for it to go through. Even allowing for the reduction to get it to 36 months, the fee looks particularly high for a Trust Deed which appears straighforward.

While IP's are free to charge fees in terms of their own office costs and policies, sometimes its just about balance, trying to meet in the middle and on that balance, you appear to be paying more when it is unneccesary.

Mark

Mark

this is why I posted in this forum 😀 to find out if i am doing the right thing. When i get the paperwork I will post what it states as the fee's and other relevant information. At the moment all i know is i had those two options of 215 pcm over 3 yrs or the 200 over 3 1/2 years. I will post what the paperwork states when it is here.

Thank you both so much

No problem, similarly thats why we're here. Hopefully the advice will help you decide.

Please keep us posted.

Regards

Mark

The fees on the paperwork amount to almost 7000. Can i contact another company before i sign? If so how would i find someone else to do a trust deed? I live in Edinburgh area if that helps any

Hi utteridiot

There are a number of practitioners available on the site who could assist and certainly charge no where near the figure quoted.

I think the figure of ?ú7k for what appears to be a straightforward case is ultra high.

Mark

Than you mark, i will try contact another tomorrow. Was not sure if i was allowed try elsewhere and i don't want to sign that paperwork yet despite feeling hurried as it to preferably be done by end month.

Hi utteridiot.

It's hard to see what the benefit to you is of entering a trust deed that lasts for longer than it needs to solely to fund above average fee levels.

I think you'd find that the fee levels of the companies featured on this site, and indeed many others, would enable you to enter a three year trust deed with a monthly payment that is affordable.