Milton & Stirling LTD has an indirect referral agreement for their services if you choose to commit to a Scottish Protected Trust Deed or Sequestration (Bankruptcy) with our preferred insolvency partner. We do not charge you for our services and Milton & Stirling LTD will not charge you any fees. If you choose to go ahead with a Scottish Protected Trust Deed then Milton & Stirling LTD will complete a no obligation referral and pass a completed fact find along with supporting documents and information to our qualified and preferred insolvency partner who will then contact you and at that point you will be offered credit counselling (debt advice), prepare your legal paperwork for a Scottish Protected Trust Deed or Sequestration (Bankruptcy).
The fees included within your Scottish Protected Trust Deed are charged by your Trustee and will be explained fully prior to & within your Scottish Protected Trust Deed proposal. All fees and outlays incurred during the administration of your trust deed are met from the realisations made from your income contributions and/or assets and are exempt from VAT. Your Trustee will provide further information regarding their fees and the work they are required to do before you agree to proceed with a Scottish Protected Trust Deed. The illustration below details the fees and outlays that may be involved in the administration of a Scottish Protected Trust Deed. You will not be charged set up fees for your Scottish Protected Trust Deed. All fees payable are met as a cost of your Scottish Protected Trust Deed and taken from the monthly payments you are due to make.
Typical Trustee Fees for a Scottish Protected Trust Deed:
The structure of your Trustee’s fee is determined by the legislation which governs Scottish Protected Trust Deeds. The fee will consist of:
- A fixed fee, typically £2,500 for a 4 year Scottish Protected Trust Deed.
- An additional fee based upon a percentage of the total assets & contributions realised by the Trustee, typically set at 20%.
- Outlays incurred post the Scottish Protected Trust Deed protection date