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Topic starter
07/05/2012 10:19 am
Hi there. I would be grateful for some advice. I contacted the Money Advice Group on 1/5/12 to ask about trust deeds because I feel this is the route I need to go down to sort out my finances. I was put straight through to Knightsbridge Insolvency services. I was on the phone for around 45 minutes and explained my income/outgoings. I was told that a trust deed would cost me £350 a month and they are sending someone round to pick up paperwork on saturday morning (they were originally sending someone round tommorow but i couldn't get a mortgage statement in time)and I will be asked to sign something?? Im not sure what. I am a home owner with no equity in my flat. After reading through some posts on here, should i go ahead with Knightsbridge or should I speak to someone face to face? I was told to get a new bank account because the vast majority of my debt is to my current bank. Any advice would be appreciated. Thanks.
07/05/2012 10:42 am
hi les67,
why not use the time between now and saturday to chat to another 2 or 3 trust deed firms to see what the difference is if any? personally i'd want to speak face to face and get all the main points clarified in writing.
07/05/2012 11:05 am
Hi les67.
From years of being a part of this forum I'd advise meeting with a properly qualified person face to face before going ahead with such a serious undertaking.
Its really important that you have the chance to go through everything so there are no shocks or surprises later.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
07/05/2012 11:34 am
Thank you for the replies. I have contacted one of the scottish trust deed firms recommended on this website and have an appointment on wed afternoon. Thanks again.
07/05/2012 12:46 pm
I have to say, that is shocking! I am not believer of trust deeds over the phone at anytime, but the speed of that is ridiculous.....it is as though they don't want you to have time to think about it. I wonder why! Wise move changing!
Shona is not currently posting in the Trust-Deed.co.uk forum.
07/05/2012 3:10 pm
Well done in taking time to speak with someone. If you've had a chance to look at some prior posts here you'll see that almost all of the difficulties come from hastily signed arrangements. Not that you want a company who are unresponsive or inefficient, just that the time before signing is really valuable for you to know what you are embarking on. Use the forum to get a list of questions ready, things you need to know - the specifics for your personal situation. Good Luck!!
Topic starter
09/05/2012 8:53 pm
Im so glad I found this forum and took the advice to have a face to face meeting rather than do everything over the phone!!I attended my face to face appointment this afternoon to be greeted by none other than the forums very own Shona Maxwell. Thank you Shona for your total professionalism, efficiency, reassurance and ability to put my mind at ease. I understand my position a lot better now and look forward to further communication in the future.[:)]
09/05/2012 11:25 pm
Les67
Do not go with KMPG as they charged me £700 for arranging Trust Deed before we even entered into one, and were then going to charge us through the nose for our TD monthly payments.
We paid the £700, and then went for free financial advice from our local authority, who put us in touch with AMI, a trust deed company that would not charge us for this, and who vastly reduced our proposed monthly payments. (Saving us over £100 a month in payments!)!
Wish we had done this BEFORE paying the £700 to KPMG! In retrospect, this money could have gone towards our monthly payments! Be warned, there are a lot of dodgy companies out there and shop around before committing to any of them. Better still get free advice from your local authority first, who can usually suggest some good companies.
09/05/2012 11:47 pm
Hello les67 and greenie.
Two posts that perfectly illustrate why some time and effort will be rewarded when making a massive financial decision like signing a trust deed.
We sometimes hear a lot here about trust deed firms that promise the earth then change tack once someone has signed on the dotted line.
It's well worth acknowledging that there are also some great trust deed firms with staff that bring a real and genuine dedication to work with them every day.
For newer visitors who may be considering their options, please don't see a trust deed as being a "product". Take a bit of time to find some real people who will give you genuine advice and then help you to make your decisions work.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
10/05/2012 9:19 am
Lovely to meet you too Lesley, and thanks for your kind words. I will be back in touch as soon as I have the required information for you.
Shona is not currently posting in the Trust-Deed.co.uk forum.
05/01/2013 12:18 am
Hi I am with Knightsbridge Insolvency but I signed trust deed with Invocas. I have just realised that Knightsbridge Insolvency took me over from Invocas but nobody actually asked me if I want to change that company. I wonder if they charged me that fee when I was taken over from Invocas. Can you tell me what I should see in my first annual review? I got some fees list but I am a bit confused.
05/01/2013 11:39 am
Hello gczuczwa,
Sometimes cases will be transferred (or sold) between firms.
Your review should be unaffected though. They'll be looking to confirm your updated income and expenditure.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
05/01/2013 2:23 pm
You will not be charged a fee for transferring from one company to another.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
05/01/2013 2:33 pm
Thanks for your replies
