| T O P I C R E V I E W |
| leslie.p |
Posted - 26 June 2008 : 16:32:50
DOES ANYBODY KNOW ROUGHLY HOW MUCH A TRUSTEE WOULD CHARGE FOR THERE WORK
TO REALIZE THE BENEFICIAL INTEREST IN A PROPERTY? |
| 5 L A T E S T R E P L I E S (Newest First) |
| JulianDonnelly |
Posted - 27 June 2008 : 13:56:53
Great advice as usual!
Regards
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk |
| melanie_giles |
Posted - 26 June 2008 : 22:52:54
The Trustee can be remunerated in a number of different ways, and their fees are agreed in advance by the creditors. You will need to increase your offer substantially to make it attractive to the Trustee based upon the figures you have presented.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
| Reviva UK |
Posted - 26 June 2008 : 19:55:20
Hi
It doesn't work like that.
The creditors would view it as an appropriate cost to ensure that their interest was defended.
In addition if the equity is 40k then that is what they are entitled to under law
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
| leslie.p |
Posted - 26 June 2008 : 18:42:35
yes i realize that time is a factor,
i have a house which is in my wifes and my name, they will want my share of the equity which is fair enough.
there is about £40000 for them to take and no more,so, £40000 to my creditors but how much is the trustee likely to take out of the £40000.
i spoke to the OR today and offered them £25000 cash to settle with my creditors without involving a trustee but they said they would want all the available equity.
surely if they involve a trustee my creditors could end up getting less than £25000 between them.
just does not make sense. |
| Reviva UK |
Posted - 26 June 2008 : 18:16:29
Hi Lesley.
they wouldn't actually charge you anything. Their fee would be paid out of realised assets in the property.
the fee payable would really depend upon how much work is involved. If for example the person in Br was being particularly awkward and not inclined to assist then their bill would be quite high - in the same way that a solicitor would increase their bill for every letter / phone call etc
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
