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Scottish Trust Deed Forum
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Topic starter
19/08/2011 11:13 pm
Hi,
I have posted previously but long story short husband and I have 34k in unsecured debt. We are meeting all payments but finding it difficult on a week to week basis. Whilst trying to find a solution i.e TD, DAS, DMP or simply biting the bullet and getting on with things for the next year or so I contacted a company in Glasgow. Guy on phone was very positive he 'could make us look' like we were eligible for a TD. He gave basic figures and made arrangements for an advisor to visit. This happend today. I kept the appointment out of interest sake really as husband and I have worked through a budget which we feel is manageable for the next 23 mnths. Anyhow the chap came out and very quickly confirmed what i already knew i.e we have enough money once all is paid to survive. He advised that he did not feel a TD was the best option for us and spoke about other ways in which we could manage our financial situation. When gone I was feeling really positive about the way ahead. A few hours later I received a follow up call from the original telephone consultant to say he was shocked that the advisor had not recommended a TD and that he could 99% guarantee we were perfect candidates for a TD! I explained that I had to question the professionalism of the company given the 'expert! Had advised against. However am left feeling totally bemused as to whether this is correct! Surely their 'expert' advice should over ride that of the telephone consultant who sounded like nothing short of a pushy salesman!
19/08/2011 11:36 pm
Hi shazza
It's difficult to comment without all the info, but very generally you are either able to continue to pay the debt payments on an ongoing basis or you are not. If you feel you cannot, then you need to look at either DAS, Trust Deed or bankruptcy as a last resort.
Was the advisor from the IP firm or the 'middleman company' .
I am surprised, but pleased that the advisor did not follow the sales pitch routine.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
19/08/2011 11:40 pm
Hi shazza0776.
One of my colleagues took a call today. The caller had found this website after finding the promises made to him by a "trust deed adviser" a bit fishy.
He had a DMP with 4.5 years to run, and a sizeable amount of equity in his house.
He'd been told it would be possible to "sort" a valuation at a vastly lower figure than this and not to worry about his home.
The call that had concerned him was from an intermediary rather than a regulated provider of trust deeds. He described an increasingly pushy pitch being made by an adviser determined to say pretty much anything to get him to go ahead with a trust deed.
We get calls like that every week.
My advice would be, if you feel that you're being "sold" rather than "advised" that you run a mile. When you read around this forum it's easy to find evidence of how things can go badly wrong when this type of thing happens.
The other thing is that any decent honest debt adviser will tell you that a trust deed is a last resort. If your situation truly is manageable without such a serious step being taken then it almost certainly isn't for you.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
