Hi galeforce

It's difficult to say with any degree if certainty who you will end up. I know one of the bigger firms who advertise use an IP based in Manchester.

The process really depends on what you are looking for. If its a Scottish IP firm, then there are quite a few to choose from who can easily organise a meeting without the initial call from down South. Best plan is to sit down and discuss all options and then see what best suits. But only when it's all been agreed in writing. That way there are no unknowns.

Mark

PS the meeting should also accommodate you and can be held at your home, coffee shop etc.

Mark

Thanks for your quick reply Mark. Can I ask what you mean by sitting down and discussing all options? Do you mean with friends and family before I take this call tomorrow? I wouldn't know what best suits as to a great extent I'm in the dark. I'm just really rattled that this company are still calling from England, 7 calls now, when I specified a morning call in Scotland. Makes me think some kind of hard sell is on the other end of the line.

Hi galeforce and welcome to the forum,

Well done on plucking up the courage to speak to someone about your debts which can sometimes be the hardest thing.

It sounds like it could be call centre or salesperson chasing a "lead" calling you constantly even although you asked for a morning call back. You want to make sure the advisor has good knowledge of the Scottish solutions if they are calling from down South.

You want to chat through your whole financial situation with an advisor (or two) and then make a decision on which option you think best suits your circumstances. As Mark said this can take place at their office, your home, your work, a coffee shop or anywhere else you feel comfortable meeting with an advisor.

You need to feel happy and comfortable with the advisor and also make sure that you get everything in writing with regards to how your Trust Deed will work and what will happen to any assets. If you feel like your being rushed into things or it's the wrong step then just take a step back and time to think about things.

Is there anything that you are particularly worried about that we can help you with?

Hi galeforce and welcome.

Moneysupermarket.com are well known. I can see why you'd make contact through them.

The problem is that they're not insolvency practitioners or debt advisers. They generate enquiries and sell them. So you're relying upon their choice of insolvency practitioner rather than making an informed choice of your own.

The firm that purchased the Moneysupermarket "lead" will have paid quite a bit of cash for it (usually) so I'm not surprised that they're working quite hard to contact you.

None of this need matter really though. You can still use whoever you wish and whoever you have reason to trust. Speaking to more than one source of advice is also usually a pretty good idea.

Hi again galeforce.

Mark is suggesting that you work with an insolvency practitioner firm that will meet you at your home (or another place that suits you) in order that everything can be discussed thoroughly and properly.

Years of experience on this forum suggest that's the single most significant step that can help to avoid misunderstandings and problems later.

When seeking help with such an important step as entering into an insolvency procedure I think it is important to take you time and not be browbeaten by anybody. I always recommend that anybody in your situation speaks with more than one source of advice and chooses the one that they feel most comfortable with.

Thanks for all your replies. I see now how I must be considered a lead. I now feel I'd rather approach a Scottish IP directly. I would like to know more about how your outgoing are assessed. Obviously some are obvious, but every time I think of my outgoings I come up with something else. Like my share of the the upkeep of our car. If I had sat down this afternoon with someone I would probably have declared just my standing orders. And how do they assess what your food costs are? Mine are quite modest I think, but surely you couldn't submit food costs base on fillet steak every night?

Hi galeforce

At this stage all you are looking to do is sit down face to face with an advisor at a place & time which suits you. Draw up a huge list of questions and then ensure everything is confirmed in writing. That way you can decide in your own time what option best suits. To be honest, this can a be done as quickly or as long as you wish.

Mark

There are guidelines regarding living costs that creditors use when assessing whether a proposal is reasonable or not. Any decent insolvency practitioner will work according to these guidelines so that the chances of objections by creditors are small.
We use a template which is very extensive and includes a lot of expenditure items that you might not think of immediately, such as car maintenance costs. At the end of the day, any payments have to be affordable otherwise the whole thing will fall apart before long - it pays to be realistic and get it right from the start.

I think you have made the right decision galeforce.

In terms of assessing someones income and expenditure a good advisor will be able to thoroughly work through this with you. Things you wouldnt even think about an advisor will ask you. I was with a client last night working through his expenditure and things like newspapers came up. He spent £1 a day on newspapers but didn't think anything of it.

There are set guidelines which dictates parameters for acceptable expenditure allowances and everything is taken into consideration. These are set for an individual, a couple, children and then extra adults in the household. From memory a single person is allowed roughly £212 per month for food and household costs. Your allowed car servicing costs, newspapers, haircuts, telephone and mobiles, travel costs/petrol, meals at work, charitable contributions, sky/virgin tv along with a good few other allowances.

Once a thorough review of your income and expenditure has been carried out this should show what surplus income you have and it's from this that a monthly payment is calculated.

Regarding the phone number,its for moneysupermarket,contact them and tell them to remove you from their database or you will continue to be bombarded as your number is in their system!

Paul

Thanks plasticdaft. I have had to block at least 16 calls today. I'm going to approach 2 or 3 Sottish IPs for advice and guidance

Good for you, galeforce - best to keep your options open.