Trust Deed buy out

nowayjose69

Hello, I am trying to buy myself out of my trust deed 18 months early as I have been left some money. I can cover the total cost, which is the full amount owed to my creditors plus interest, and the total fee's owed to the trustee.

However, my trustee is also asking for 20% of that total on top as they say they are entitled to 20% of any realisations made in addition to monthly payments.

I don't think the payment is 'in addition'. It is a settlement amount made 'instead' of monthy payments. It is around double the original fee.

Does anyone have any advice on this?

sourcrates

I note you have not been active on the forum since your first post, but I`ll respond in case you still have questions about this.

I would suggest you contact National Debtline (Scotland) and ask their advice on this matter, as Scottish law is different to the rest of the UK.