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Debt Advice Forum Forums Debt Solutions Sequestration Sequestration Fees

This topic contains 2 replies, has 2 voices, and was last updated by  StevieKool 3 years, 6 months ago.

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  • #968

    StevieKool
    Participant

    I was declared sequestrated because I paid for a boiler and installation due to my belief it was over priced.

    I had ignored all the letters and threats because i never thought they were serious but last year I got letter saying i had to attend court.

    Despite realising this was now serious I choose to bury my head in the sand and in the end was made sequestrated for a total of £28k

    I had a property which was completely paid off which was repossessed by the sequestration administrators.

    Today I received a letter which informed me I had to pay a total of £44k which include the debt, interest and sequestrations fees.

    Surely KPMG can’t charge over £20k for sequestration fees, can they?

    #969

    Hi Stevie,

    Sequestration fees can be expensive depending on the cost of managing the case from start until it’s conclusion.

    The sequestration fees should also include the cost to repossess and sell the property, such as estate agency fees.

    You can request a breakdown of the fees from KPMG if you wish to see how it was calculated.

    Sadly it sounds like you were forced into the wrong debt solution, this is why always advice people seek debt advice as soon as they need help.

    #970

    StevieKool
    Participant

    Thanks for the advice. I guess there’s nothing i can do but accept the remainder of the money from the sale of my house.

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