when I signed my trust deed in 2005 I was told that because there was no equity in my house it wouldn't be a problem. about a year ago they said that they would only want ?ú500 to remove the charge from my mortgage. now they want ?ú13,000.

did you get someone actually visiting your property to value it? the one that apparently did mine drovew past a few months ago. i live mid terrrace so the only part they could decide a value on was the front of my timber clad house!!

worriedsick I don't suppose you are with the same company as me? KLM?

Hi we are with Invocas. Received letter today stating that someone will be in touch re surveying the house. After paying 350 for three years, we thought we would be so much better off, but depending on how much the house is valued at we won't be.

Hi mark

I'm not sure if this is a true valuation, at the time I took out the trust deed I did not have enough equity on my home to pay my debts but as at todays date there is ?ú48000 equity on my house. As my original debts were only ?ú24000 and I have paid ?ú19000 over the five years surely even with interest and charges added i can only owe another ?ú10k at the most and not another ?ú28k which is what they are asking for.

I was paying ?ú100 a month to keep the trust deed going as i could not remortgage, at least I think thats what i was paying it for.

Thanks Caroline

Hi kendocazza,

I'm assuming the interest that Mark refers to is statutory interest at 8%. This doesn't compound if I'm right (i.e you would not pay interest on interest).

8% of ?ú24000 is ?ú1920. Five years of that would amount to ?ú9600.

In addition there will be the IP's fees. You can ask for a breakdown of these. For the sake of example lets say they were ?ú5000 including Vat and outlays for the five years.

The total in this example might therefore be ?ú38600. With ?ú19000 paid in monthly contributions there could be another ?ú19600 to pay if the equity exists to pay it and the Trust Deed itself stipulates that this will be payable.

Have you received any details or breakdown regarding the fees payable?

Hi

I am still waiting for these figures, i will let you know what these say once I see them

Thanks Caroline

Hi Kerry

I am with KLM and have experienced simmilar problems as yourself when trying to contact Mr Le May. I have been looking for more information about the process of my discharge and how much longer this will take due to recent developments. I have now been told Mr Le May will not be back in the office for 3 months! I cannot speak directly to him and he will not return my phone calls. One of his assistants phoned my back, did not give me the information I asked for and was very rude to me.

I have never known a company to treat people the way this one does. I recently posted a query on this forum to get information that should have been given to me by Mr Le May.

I thinks Mr Le May is trying to get more money from me because my ex-partner was made bankrupt by another company before KLM could get any money from him!

Where did you get the email address for KLM?

Kt67

Think we need to be a little careful in one respect here kt67. On your previous post the experts did feel that the reason for the delay in discharge appeared to be proper and reasonable on the part of your Trustee.

The standard of information provision and communication with you may of course be a different matter.

hi there

i get the email address fromn the top of their letter headed paper, and also make sure that when i email them i actually reply to one that they originally sent to me, when it was of their benefit to do so. last time i called them i got a receptionist who told me that she was too busy to take a message and to phone back at a later date. seems that once they have money they don't care

Kerry, kt67 and kendocazza:

I'm interested to hear how you all are getting on with your TDs and KLM! KLM is also my TD company!

Hi there

I actually got a letter back from them yesterday, saying that he would welcome a valuation from someone of my choice to sort the matter out. But as far as the valuation he got carried out, he says that the surveyor couldnt contact me the afternoon he wanted to do the survey, so he just drove past the house and went on the internet to see what other houses in our area were selling for. Problem is the house he used as an example was a detatched with double driveway, and converted loft into a bedroom and bathroom, whereas mine is a mid terrace with no drive and no conversion! Think he felt a bit silly when I pointed this out. They still saying though that they want the money, so will fingt about that when I get the survey done. Oh, he also says that I have to pay for the survey.

As for my point that if there was as much equity in my house at the time of signing he should never recommended a trust deed to me, he said that at the timeit was probably the case that they wanted to help me quickly insteasd of wasting time trying to get valuations. Which, if he had done, would have saved all the hassle he is creating now!

How far are you into your Trust Deed now? If its not long I would suggest you get your property valued now so that he can't treat you the way he has treated me!