Hi tompie1980 and welcome to the forum.

I do hope that it was explained to you at the start that a trust deed takes into account your assets as well as your surplus income?

What do you think you could sell the home for if it needed to be sold fairly quickly?

Probably about £80000 or £90000 and thats pushing it. But I don't want to sell it. I have my daughter to think about and have no where else to go at all..

Plus I don't beleive it was explained to me that much.
I have £300 a month to live on at the moment.

The reason I asked about the valuation tompie1980 is because your original post suggested that you didn't believe your property was worth £105000.

If the valuation should be lower there would be less equity in your home (no equity according to your estimate) and this might help to resolve the situation in a way that is more acceptable to you.

You may wish to read around some of the recent forum threads here. Some visitors have made some progress in challenging valuations they dispute. They may be able to share some thoughts and ideas with you when they next visit the forum.

You've used a pretty strong term about a company that you have named in your original thread. We don't seek to censor visitor comment other than where we feel there is no option, but I think where such a strong term is used it needs to be explained and justified. Could I ask you to do that please?

Sorry about what I said in the thread. I have said this due to the fact that just came off the phone with them and them telling me that I only had these two options. I do honestly feel that the Trust Deed has done nothing to help get me out of debt and all it has done is let me beleive for 3 years that I was going to be getting out of debt.
They have said that this is the valuation they have put on the house. I will contact my mortgage company and ask about re-mortgaging and also if they need to do a valuation check on the property.
Thanks for your advice and I will read other posts on here regarding the valuations..

believe me i know what your talking about im about to finish a 4 year PTD and ive to try and get £26000 i no its my fault for getting into debt but i asked the same question dont no how many times will i lose my house at the end of this was told no wish to god i hadnt been so stupid and entered into trust deed without getting proffesional advice so now i will have to try get some where else to stay

Hi.

These issues with equity are clearly causing a lot of stress and heartache for many of our members at the moment.

As annei44 says professional advice should at the very least mean that people understand what they are entering into and have a plan in mind to meet the trust deed responsibilities. It's always really hard to read personal stories where something so serious in the process seems to have broken down somewhere.

Being a homeowner should not necessarily put people off entering a trust deed as there are ways to ensure that responsibilities are clear and a plan exists to deal with them. Homeowners should certainly be clear in their minds though that these two hugely important areas have been properly covered before signing.

At the end of this 33 months I will then have to be homeless or in major debt again. Tell me please how this has been a good thing. All it has done is get my hopes up for nothing for the past 3 years.........

Hi tompie1980.

Clearly nobody is suggesting that a trust deed has been the right thing for you.
If you consider that your responsibilities to the trust deed were not fully explained or understood then something has gone very wrong indeed. You'll have the sympathy of everyone reading this thread, though I appreciate that's probably not helping you greatly right now compared to the issues you are facing.

At the same time there will be homeowners reading this who are considering a trust deed and, in many cases, if it's all handled properly it will be the right thing for them. It would also be a terrible shame if people for whom this is true end up in 20 year debt management plans (that may or may not work) because they've been scared off trust deeds.

All I would like to say to anybody then about trust deeds is what your saying yourself TDA. Make sure the Trust Deed is fully explained to you first before signing anything..