We know that different firms have different processes Mary.

I can fully understand why a firm with a different process (on anything - not just equity) would want to run things by the appropriate body to be 100% sure about how they are proceeding.

Are you getting the impression that Creditfix are happy to proceed on this basis provided that the AIB does not object?

I love trust deeds they are great. everyone should get one

I totally agree different firms have differing policies and procedures to adhere to. Perhaps it might have been more prudent to have this checked out before announcing on this public forum that they would 'honour' all previous arrangements. I've contacted the AIB too tonight.

Hopefully the AIB will have the answer everyone who has been transferred is seeking!

People whose case that is transferred to another Trustee must have protection of some sort - I'll be gobsmacked if there isn't. I laughed at the idea of being mis-sold a TD, tonight I'm not finding it so funny! We were conned by bankers for years, so surely it's not happening in this industry.

I will make it simple. They are asking the exact same question I have been asking, did PJG have the right to offer protected equity when selling us this product.

It's clear where they make their cash from the iva''s they are upping the fees to 23%. For the people saying no to the variation they are threatning to fail their IVA.

Now they are sitting with a pile of trust deeds with no means of making profit unless they ignore PJG paperwork.
But like I have been saying there are two ways to skin a cat, buts lets see what they come back with.

One other thought, what sort of shambles was this deal where these details were not discussed. Thought PJG went to lengths to make sure they got a suitable buyer surely such a basic question like are you going honour our agreements was asked !!

Another waiting game....

That's totally ridiculous Sold down the river.

The Creditfix trustee came on here to signal his intention to abide by agreements made with PJG!

Running things by the AIB is in no way unusual. Trustees commonly do this when they want to be sure about something they're planning to do.

That's exactly what I think too Sold down the river......sadly it's looking like clients interests and welfare wasn't high on the agenda!

Have any of the experts came across a similar situation to this before?

Steve1984.

Can you back up the statement you've just made about what this firm is going to do?

Or are you just speculating on your fears about what might happen?

If you're speculating I'd suggest you quickly edit what you've written so that's clear.

What are you talking about? Why would they run something by the AIB that is common practice by numerous td companies, pjg and the other ones who take 500 pound to protect equity?

So all they can be running by AIB is can we ignore this paperwork and do our own thing!!

I'll delete whatever you want. I wouldn't want to cast any negativity on the forum and cost any of the companies new business..

quote:

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Originally posted by steve1984
[br] crefitfix are great. I love them. What ever they are doing is for our benefit for sure.

That ok tda?

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i think it's understandable folk will speculate. However, Creditfix announced on here months ago they would honour arrangements made by the previous Trustee but wait until today to clarify this with the AIB.....they must have been aware this issue would crop up!!

Steve1984.

Because it's different to their own process.

I see where TDA is coming from but I also read the other forum and they are not a nice firm hence my apprehension.