If you are meaning the investigation referred to earlier in this thread, huggiethomson, then it seems to be that the debts owed were being investigated to check whether the credit agreements were valid or not. I don't know what the basis was for starting this investigation or whether it is being done as a matter of course by this particular IP. I don't believe there is any inference that the people who have signed these trust deeds have done anything wrong - merely that the banks etc may not have got their paperwork right when arranging the loan/cr card.

Hello Again - despite repeated phone calls to Invocas I'm afraid I'm still no further forward with being discharged. Apparently Cartel are still carrying out their investigation - this has been since April 2008!!!! Did anyone contact Institute of Chartered Accountants - did it help??? Any advice would be welcome!!
Thanks

Hi liana,

I'm surprised and disappointed that this still hasn't been sorted out.

This site doesn't exist to encourage the making of complaints against Trustees but it seems as though you have done all that you can (and have been extremely patient) to give your Trust Deed firm the opportunity to resolve your concerns.

As such it may be that it is time to make a formal complaint as it seems to me, from all of the information that you have provided, that you may have been treated very unfairly. This would give the regulator the option to either clarify to you why the current situation is fair and necessary, or to hold the Trustee responsible for resolving any problems that it identifies.

Just to keep you updated - contacted Invocas and explained that I felt the investigation with Cartel should have been completed by now. I stressed that I have been more than patient and have fulfilled my obligations with regard to the TD. Therefore I felt I had no alternative but to write to the ICA. Low and behold 2 days later I received a phone call to say that my case has been passed for closure and that I should get my discharge letter in a couple of weeks!! I am delighted but will be happier when I actually have the letter!
Will keep you up to date!!!

Hello liana,

Mixed emotions on this one.

I really think that this never should have happened after you faithfully met all of your obligations.

Having said that I'm glad that the forum has helped you to drive your Trust Deed company into doing the right thing even if it took the threat of a complaint to get there.

Thanks for keeping us up to date; please let us know when you get the letter.

If ever a forum thread emphasised the point that anyone considering a Trust Deed should very carefully consider which firm to choose to help them this is it. Thank you for sharing your experience.

Just thought people might be interested to know that Cartel Client Review have had their licence to trade suspended by the Ministry of Justice.

Their associated solicitor firm was closed down by their regulator last week due to "suspected dishonesty".

http://news.bbc.co.uk/1/hi/business/8574956.stm

Don't know if this is true or not..I am simply cutting and pasting from another website on the Invocas/Cartel story...

(link removed)

Quote:
Originally Posted by taurus22
Does anyone know what the realtionship between Invocas and Cartel was all about?

(link removed)

My understanding is that Invocus do the Scottish version of IVA in Trust Deeds but the Scottish Office in Government got sold the line that Cartel were very good at looking at agreements and they contracted them to look at all trust deeds to see if any of the agreements in them could be written off, the problem was that a trust deed only last 3 years and needs to be settled at the end of the three years but we all know that Cartel take about twenty years per agreement to get results which means that whilst an agreement is in dispute the trust deed cannot be discharged. Obviously leaving people at risk of bankruptcy then from the lender.

The Scottish Office really screwed up on this and not many people were aware of the government connection in the affair.!

I am sure (name removed) was using some of this in his case and now that he has had the case dropped i think it will all be coming out in the next few weeks.

Is he the first person who stuck two fingers up to (name removed), pushed it to the line and actually made (name removed) retract something?

Well done (name removed) keep up the good work.Shame on you (name removed), where were you?!

Hi watchful and welcome to the forum.

Your post has been edited to remove the links (we ask that visitors do not post links to external sites) and the names (which are not relevant to the purpose of this site).

The purpose of this site is to provide advice and support for people worried about debt, considering a Trust Deed, or currently in a Trust Deed.
The subject of Cartel and a link with Invocas is therefore relevant to some extent, but the broader subject of Cartel (and the people involved with it) is better discussed elsewhere.

You comment that you are not aware whether the information you have posted is correct.
Frankly, it appears mostly to be complete and utter nonsense.

I would ask that any further posts on this topic be limited to the scope of the site as previously described.

The purpose of the post was after reading "A company called Carousel (Cartel)are investigating my financial situation. The TD won't discharge me until this investigation concludes."

The company Cartel has been suspended by the MOJ, so surely if anyone was in the same situation as the quote I have referred to... this would place people in a different situation. As surely discharge from a TD can't be dependant on a company who have been suspended?

This is more a question than a statement.

Hi watchful,

I agree with you; anyone who has had their case delayed really should be allowed to move on now.

Having said that I really don't think they ever should have been subject to this delay at all.

These investigations, specifically with the IPs mentioned.
Does anyone know what exactly these entail?

I ask because, my trust deed is due to finish and, going over all the initial documentation I realise that I was obliged to update them when circumstances changed, like.. Getting a better job etc.. Unfortunately, i signed the trust deed, paid what we agreed every month and haven't really had any interaction with the IP in between..

I'm worried that retrospectively informing the trust deed of my changes in circumstances throughout the 3 year period could harm the closure of the trust deed and worse, they could ask for backdated payment? - which of course.. I don't have..

I'm not a crook and I didn't intentionally deceive anyone, When i signed the trust deed I was desperate and they widdled my budget to almost nothing.. Once my circumstances changed it made life alot easier..

Any advice?

The investigations referred to are nothing to do with any changes to your personal circumstances skinty (good username!). It is to do with whether loan agreements were drawn up in accordance with the consumer credit act and therefore whether they can be classed as null and void.

Hello skintymcskint,

Have you been contacted about reviews during your Trust Deed at all?

It would be normal for changes in circumstances to be taken into account from time to time.

No, never been contacted for a review, as I mentioned I have just been blindly paying the agreed monthly amount since the start. Its as things draw to an end I'm becoming increasingly anxious about the discharge process..

What typically happens at the end of a trust deed? seeking information on this phase is difficult as most resources on-line are simply trying to sell a TD and seems focused on making it sound very simple.

My main concern as that at the point of discharge, The changes of my circumstances over the past 3 years and having not disclosed them will inhibit my discharge. Is it correct they can demand full back-payment or try to even sequestrate me?

A trust deed was not the right option for me, unfortunately the IP made me feel at the time like it was my only hope of not going bankrupt. When they set my budget I literally had nothing left at end of each month, every penny was accounted for. In many cases i ran out every month and i think on one occasion, i had to miss payment to my IP! -

Anyways, I worked incredibly hard and set my sights on a job that would get me back on my feet and managed it, The thought of going through all that to get where I am and putting in the hours, the extra work and the studying just for it to be taken away and my position to be reset to 3 years ago is really terrifying me...

what happens at the end of the trust deed? and does the fact that my circumstances changed over the 3 years effect the discharge of the trust deed. If so, what can I do to minimise the impact on me financially?

Hi skintymcskint,

It seems to me that your Trust Deed company should have been in touch to review the Trust Deed during the period so that changes in circumstances could be taken into account.

It also seems that you might have been expected to report any significant changes in your circumstances to your Trustee irrespective of whether reviews took place.

How things will develop from here will depend on whether you now take any action in light of this, and also the actions of your Trustee, prior to bringing the case to a close.

I'm sorry that I cannot answer all of your questions more specifically.