I can see Paul has provided a very balanced and reasonable response.

Not sure why, but this is the first I am seeing this post. Regarding your comments about "predatory" and "ripe for regulation", these are emotive terms which are generally unfair across the sector. You are correct that Insolvency Practitioners should be alive to the fact that they are dealing with individuals who (by the very nature of their financial situation) are vulnerable. Likewise, it is a complex area of law and they should ensure prospective clients feel able to make an informed decision.

New regulations were brought in by the FCA in 2023, and further regulations were brought in 2024 by the Scottish Government, including a statutory cooling off period and additional provision of information to individuals, prior to granting a Trust Deed.

Paul's 'blunt' comment stands true. The industry is a mix of Accountancy / Restructuring firms who offer PTDs alongside Sequestration and Corporate Insolvency; and firms who were setup with the sole purpose of operating Trust Deeds. Anybody who feels they are being "sold" or pressured into a solution, should seek alternative advice. Our job is to provide you with the information you require to make an educated and informed decision about the best path forward for you.

If you feel you have grounds to complain regarding the administration of your Trust Deed, you should follow the complaints procedure published on your Trustee's website. If unsatisfied with their response, you can escalate your complaint via the Insolvency Complaints Gateway.

Firstly, i'm sorry you've not had a reply from anyone. Secondly I'm sorry that your post was held in moderation, so would not have been visible to everyone. Hopefully, now people can read and comment.

Of course, i don't know the details of your situation, but it sounds like a Trust Deed has been a bad recommendation for you and your circumstances. Unfortunately I hear from too many people who are 'sold' a trust deed that is clearly not the solution for them. I also hear too often about people in a trust deed who can't contact their insolvency company. You should look at their complaints policy and try that in the first instance. Failing that, their governing body can be contacted if you still feel you're not receiving a satisfactory duty of care.

You are right also about a lot of the potential consequences that individuals will face when in a trust deed - it is an important duty of a trustee to make sure that an individual is aware of this and factor these potential consequences into whether a trust deed is the right solution for that individual.

I'd also add, bluntly, that there are better and worse providers of trust deeds in the market. Trust deeds are highly effective solutions for people, but that requires a thorough assessment, and transparency over what that means.

You won't be the only person on this forum to have had these issues, so hopefully others can contribute with their experience and thoughts.