Hello jayjay.

I'm afraid it's not possible to switch companies part-way through a trust deed. You, your trustee and the creditors all became bound by the arrangement.

Is there a dispute between you and your trustee?

Hi, Thanks for your quick reply, I received a letter this morning, implying that they have been in touch before, THEY HAVE NOT, and I found the letter to be intimidating and threatening. I have never missed a payment and I have complied fully from day one. Can I cancel my standing order, and wait for action to be taken through the courts, I am happy to challenge the company. I WONT BE BULLIED BY NO-ONE!!! Thanks JJ

How far into your trust deed are you jayjay?

If there's a dispute, a mistake or a misunderstanding it will almost always be in your best interests to resolve it with the company you're with.

A lot of the work that goes into setting up a trust deed is at the start of the process. That's therefore when a lot of the fees are charged. Ending a trust deed in the early stages is likely to result in you losing all of the money that has been paid in so far.

If you then go to another company those payments will have to start again right from the start. It isn't 36 months now either, the minimum term has been increased to 48 months.

Hi jayjay,

I'm sorry to hear that you are a little unhappy with your Trustee. Once you have entered into a Trust Deed and as TDA points out you are unable to change Trustee.

From time to time there are letters which are sent out in Trust Deed's which can be taken the wrong way and cause some upset. There are statutory requirements that a Trustee must carry out and sometimes letters can be worded in a way which some people aren't happy with. Sometimes it can be a misunderstanding and a quick phone call to your relationship manager to clarify things is all it takes to get things back on track and smoothed out.

If you've co-operated and never missed a payment I'm not sure it would be a good idea to cancel your standing order and want to challenge the Trust Deed. How long do you have left in your Trust Deed jajjay?

Hi both, I am only 5-6 months into the TD, so its not too bad. I appreciate the hard work that has gone into setting up the TD, but at the end of the day. I am paying for the service. I genuinely don't mind losing the monies paid in. I simply will NOT be threatened by anyone. Life is tough enough without being harried by these people. I have been polite and courteous since day one, but today the company fell WAY below behavioural standards. Quite sickening to be honest, and I don't want to be part of that. Thanks JJ

I would be wary jayjay. As David advises there are occasions when certain letters have to detail the possible negative consequences of action/inaction.

Your Trustee, while having a duty of care to yourself is ultimately answerable to creditors, and it is to them that the service is provided.

I would highly recommend contacting your relationship manager prior to cancelling the standing order and, in all likelihood, forcing the Trustee to petition for your sequestration.

Hi VOR, Thanks for your comment, but do you know what, I don't care anymore. I am happy to do whatever is required to get this company out of my life. NO-ONE has the right the threaten another whether it be in a pub, on the street or in a letter from a company. It truly beggars belief. It doesn't matter how you dress it up I am paying this company to work on my behalf, and I expect a certain standard of behaviour. I will seek further legal advice. Thanks JJ

Can someone please tell me what happens once I cancel my TD standing order. Thanks

Hi jayjay.

I recognise that you're angry about this. As you say, you've made all of your payments and complied with all requests.

Let's just say that a request was sent to you and it didn't arrive or became seriously delayed in the system. That happens with thousands of letters around the country every week.

If that request were considered to be an important part of the process it's natural that the sender is going to chase it up. They probably have no choice. They also have no choice but to warn about the consequences of non-compliance because they're potentially so serious.

In this forum we often hear about people's concerns about their trustee. This works two ways though. The fact of the matter is that a minority of trust deed clients do fail to comply, don't disclose important changes in their circumstances and generally try to avoid their responsibilities.

Trustees have a responsibility to deal with that which is why some of these letters (they're typically standard letters - not personally worded) appear to be threatening and strong. That's to cover those that are avoiding their responsibilities, it's not intended to threaten or intimidate genuine clients where something has slipped through the net.

So you have every right to be angry if that's how that letter has made you feel. I'd take a few days before making any final decisions though.

If you're six months in already you might have 30 months of payments left?

If your trust deed were cancelled (and you weren't sequestrated) you'd be looking at a minimum of 48 more payments in a new trust deed.

In total you'd be making 54 payments rather than the 36 as it currently stands.

That's a pretty heavy price for you to pay? Up to you of course, I just hope you give it a few days before making any final decisions.

Hi again jayjay.

I just saw your latest post after I completed my last one.

After missing a certain number of payments and there being clear non-compliance the following things might be possible:

1 - Your trust deed could be ended with you being reunited with your debts and needing to deal with them from the start again.

2 - Your trust deed might not be ended. We've read some examples on the forum where the trustee has used the legal process to try to recover the monthly payment commitment directly from the employer of their client.

3 - The trust deed might be ended and the trustee seek to bankrupt you.

Thanks TDA for your words. YES I am angry like you wouldn't believe. I will seek further legal advice. Thanks again JJ

Hi again TDA, I have been informed by the company they will probably go down the route of arresting my wages. Which is fine, I hate the job anyway and probs jack it in, that way they wont get a dime.

That must be some letter to have got you this worked up! Looking back on some of your previous posts from only a few months ago things have changed pretty quickly from the grateful thank you's you wrote to this.

FF36, What happened a few months ago, has nothing to do with whats going on today and is completely irrelevant.