great post,and I agree a TD can be life changing!!

Paul

I can never thank my IP for what he has done for me and my family,we can now live again.We still don't have much money but we have no debt.I love life again now after 10 years of borrowing from Peter to pay Paul.I was very lucky the IP I went with was very good but if I had found this site I would have gone with one of them.I would love to mention my IP but don't know if I can.I see people mention bad IP so I think we should mention good ones but will wait to see if it is ok to do so.Am sure our best friend (TDA) will let me know if it's ok. Don't be put off a TD by bad comments just don't sign till you have all the info and everything in writing.A big thank you to all who write on this site.x

Hi lucygirl.

We've never had a rule about naming firms on the site. We just ask people to be thoughtful and balanced if they choose to do that.

A "name and shame" type website would take us away from the main purpose of the forum, namely to help posters with questions and queries.

What a great post. Trust Deeds were designed to fill that gab in the bad old days when the choice was Debt Management and bankruptcy for people seek debt advice/relief and it sat nicely between the 2. DAS then plugged any further gaps.

If its used properly and people can enter if with no fears or unknowns for the future it can be used as a mechanism to rebuild. There is a tendency to fear the worst, but there are very few issues which can't be overcome.

Mark

If we had carried on without doing a trust deed,not only would we be bankrupt and without our own home,the wife and I would no doubt have split up,because of the constant shouting matches over money(or lack of it).

Now we have money to spare as we have kept our budget that we had in the trust deed going(what was the trust deed payment is split up,70% going into a main joint savings,the rest is split between me,the wife and our 15 year old got a boost to his pocket money).

We knew from the start what we were doing because I did a lot of research into companies and contacted a few to get a feel for things. The only minor issue is waiting for the ppi shenanigans to get sorted so our trustee can be discharged,but that really is only a minor annoyance.

Anyone thinking about it,think long and hard but not that long that your situation gets much worse,had we taken action 2 or 3 years earlier we would have been so much better off,but I thought I was in control of our finances when in fact our debts were in control of us.

Paul

After your 36 payments have finished could your IP discharge you even though there are PI claims outstanding, I have ten payments left with four out standing PI's...?