Hi jim
I used grant Thornton who were good it went smoothly and I always found them helpful and non judgemental.Maybe others can confirm they are reputable. My Trust Deed finalized June 2011 and they gave good advice about checking on my credit file as so many companies are so slow to update the credit files which is the stage I am at. On a personal note tell your sister it gets better. Not to worry. The trust deed was the only way I stayed sane
Elaine

Well you're certainly off to a good start by looking around and not going with the first firm you come across. I'm sure there will be plenty of members on the forum who will be willing to give recommendations based on their own experience - both good and bad!
Alternatively, many people prefer to seek advice from a free money advice agency first (eg local authority advice centre or CAB) and then look for a recommendation from them.

I always think that the sign of a reputable firm is that they provide information on all of the options and don't try and push people down any particular route. Make sure your sister asks plenty of questions before she signs anything, and gets confirmation of everything in writing.

Hello jimtucker and welcome to the forum.

This site recommends four firms, represented in this forum by Mark, Kevin, Rob and David. They've helped many previous visitors to the site and you'll find positive feedback about their services in the forum.

There are other good firms out there as well, and a few that don't get such a good write-up from their clients here.

If you find a reputable firm, agree an affordable payment, agree a reasonable term, and clarify important issues in writing before you sign the trust deed, there's much less scope for things to go wrong later.

Thanks all for your input, Kevin can I ask, what is the Tennon website? Is there a site about trust deeds, as in, a commercial site?

I used rsm tenon for my trust deed and found them professional throughout. A very scary experience was turned into a learning process (budgeting and living without credit), and the trust deed was completed as expected without any real issues. My case manager replied very promptly to any emails or phone calls and was easy to get on with.

My advice is to get advice from 3 different firms who employ insolvency practitioners themselves. Many companies act simply as middlemen and often dont give a hoot about whats best for you.

Get any questions you have answered in writing. At the end of the day a well run trust deed is an excellent tool to get people back on track financially.

Good luck.

Paul

The best advice is always to speak with an IP firm directly, gather together all the relevant points and organise a face to face meeting to discuss the options a available, not just trust deeds. Then ensure all points discussed are confirmed in writing before you do anything. That way there are no doubts or grey areas and nothing is left to chance.

Mark

There is an RSM Tenon website, jimtucker, though only a small part of it is specific to trust deeds as we are an accountancy/business advisory firm too. We are actually close to going live with a new website dedicated to Scottish debt solutions, but aren't quite there yet I think.

In any case, I think I'd get my wrist slapped by trust deed assistant if I posted an external link on the forum! If you want more information about us or any other firm represented here then probably best to click on the "contact" button and we can arrange to send you something by email etc.

Hi Jimtucker and welcome to the forum.

I guess I can only echo what has already been said by others in that it's best to have a face to face meeting before deciding to proceed with which ever option you feel best suits both you and your sisters circumstances.

Do a little bit of research/reading yourself into the possible options which could be a Trust Deed, Debt Arrangement Scheme or Sequestration. That way when your speaking with an advisor you will already have a little knowledge and understanding. There is a lot of useful information on the forum.

Try to make a list of what debts you have, what assets you have and also an income and expenditure as this is a good starting point for any advisor when speaking with them.

Make sure that you receive everything in writing from what the contribution amount will be, timescale of your plan, what would happen to any potential bonuses and how any assets that you may have will be dealt with. Finally don't feel pressured into proceeding with anything just because you have had a home visit to discuss things or made an office appointment and are sitting in someone's office. Things should move at a pace you feel comfortable with.

I would say good luck but providing you do your research and speak directly with an IP firm and get everything in writing you shouldn't need it.

And remember we are always here to advise if you get confused or have any other questions.

Doing nothing isnt an option.

Paul