Hi tg16 and welcome to the trust deed forum.

If you have asked about this a number of times already you may wish to consider submitting a written complaint to each creditor. They are required to deal with such complaints within a defined timetable.

hi,

thanks for your reply.

what should i be saying to creditors? i have been sebding mail recorded delivery and still being ignored.

also, this may seem like a silly question but have there ever been cases of trust deeds being 'mis-sold'?

thanks

Hello tg16.

I'm not aware of any template letters to use on this subject, but the key point is that you seem to have worked hard to resolve this already.

If you feel that your ex-creditors are not treating you fairly, the key point is to mark your next letter with "Complaint" at the top. Financial institutions then must deal with the matter within strict deadlines upon which they must report to their regulators.

When you mention the possibility of a trust deed being mis-sold are you concerned that this may have been the case for you?

Given the number of trust deeds that are signed each year it's hard to believe that some people might not have been advised towards more appropriate options, provided with fuller information in advance, or warned of specific risks relevant to their personal experiences in advance. There's also plenty of evidence of things having gone wrong that have been written about here in the past by visitors to the site.

It's also important however to remember that for the great majority of people, who choose to work with reputable trust deed providers, no such issues exist and the trust deed achieves the original aim effectively.

hi,

thanks for your reply. my understanding was that you should have a certain amount of debt for a trust deed to be in your best interests but to be honest the peace of mind and support i received in dealing with my creditors far out weighs my concerns about being 'mis-sold' anything so to speak.

to be honest my trust deed has been a good experience i just wish that i could get a response from my creditors. i will however attempt to resolve this through making a complaint so fingers crossed! thanks again.

Hi tg16.

I don't think there's any kind of threshold of debt at which a trust deed is (or isn't) the right course of action.

Most decent debt advisers will not tell people what to do anyway.

Generally they will spell out all of the options that are open to any individual (based on their circumstances), explain the positives and negatives associated with each, and allow their client to make an informed decision.

For example we spoke to someone this week, who had a significant amount of debt, and who would have resolved his situation soonest via a trust deed or sequestration. He preferred to take many years longer to deal with the debts, as he was determined to repay what he owed in full if possible.

People's attitudes and opinions are often at least as important as the hard numbers and facts involved in any scenario.

It's therefore not at all uncommon for two people with very similar circumstances to decide upon differing options to deal with unaffordable debts. So long as they've been given the right information in the first instance, I think everyone would support this.