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How much does a Trust Deed cost?

How much does a Trust Deed cost?


Trust Deeds are there if you require an effective debt solution to tackle your financial situation. However, many people can feel confused about how much a Trust Deed costs – this guide from PayPlan looks into this in more detail.

How much does a Trust Deed cost?

The cost of a Trust Deed, when using our sister company PayPlan Scotland, is very similar to an IVA (Individual Voluntary Arrangement).

Here, we’ve broken down what is involved:

No upfront fees

PayPlan Scotland does not charge upfront fees on Trust Deeds. This is because we understand how difficult it can be to find the funds to arrange such a debt solution when you are already dealing with financial issues and want to get back on track as soon as possible.

There are other fees, however, but these can be included within your monthly repayment arrangement:

Type of cost

What this involves

Monthly payment cost

This manageable monthly payment is based entirely on your income and expenditure and will be agreed at an amount that you can pay without stretching yourself. If your income or expenses change at any point it’s important you notify your Insolvency Practitioner to amend how much you input into this monthly payment. This is because all of your income must be accounted for, and any disposable money must be put into your Trust Deed.

Trustee fee

This fee covers the cost for those handling with your Trust Deed. This allows your Trustee – Insolvency Practitioner – to be available to answer any questions or deal with any issues you may have. They can also conduct important reviews to ensure you are paying the right amount each month and go through any new income or expense changes with you. Usually, 20% of your payment costs are automatically paid to the trustee each month.

Fixed fee

This fee is set to cover the costs of putting together your Trust Deed proposal to your creditors. This means the Insolvency Practitioner dealing with your case can look through your income and expenses to determine how much you should be paying into your Trust Deed before sending this to your creditors.

Third party costs

These are fees incurred when third parties are involved with your Trust Deed – such as when you need to be added to the AIB register of insolvencies.

Fixed admin fee

This is capped at £2,500 and covers the cost of any administrative work while your Trust Deed is being handled. This cost isn’t payable up front, it can be spread over your payments.


How do you pay Trust Deed costs?

The required fees and payments will usually be added to the monthly amount you will be paying. This means you don’t need to worry about finding this money up front – unlike when you take on sequestration which costs £200 to apply for. However, we recommend confirming this before agreeing to a Trust Deed.


If you are looking for any further information or help when it comes to Trust Deeds our team can help. Give them a call on 0800 316 1833or send a message to one of our live chat advisors here on the site for free, impartial advice.

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