Hi eoin8008,

Am I reading correctly that you have been asked to contribute an incorrect equity figure?

Hopefully this will prove to be a fairly straightforward matter for the Trust Deed company to deal with.

I do hope that it's resolved for you quickly.

Hi TDA, this appears to be the case. On the PTD it specifically states redemption statements have been requested from the secured creditor. These should have given a figure of ?ú95, 720.32. Instead, they asked us how much was left, and due to stress levels at the time,we quoted "about ?ú91,000". I would go so far as to say they simply didn't get a proper redemption figure at all. It is clear from the many anomolies on this account, that they have preyed on a very naive and vulnerable couple from the start, and obviously discredited the whole PTD process by their utter lack of respect for their clients,demonstrated beautifully by the way they have run this account.

Hi eoin8008

I can fully understand your frustraion and am at a loss as to why something so simple and so important can be 'overlooked'

In my cases, we use that extremely complicated formula of House Value less redemption figure = Equity. I cannot think of one occassion where we have requested a redemption figure from the mortgage holder and it has not been forthcoming in a week or 2.

Mark

Well for the sake of balance lets state that this could be an administrative error by an individual at the company concerned and the real figures may be buried in a file somewhere.

Most importantly I do hope that this is all resolved quickly for eoin8008's sake.

Dear Mark and TDA, many thanks for your replies. Dare I say that through your excellent website I have seen how a Protected Trust Deed SHOULD be handled and it has given me the courage of my convictions ie. our Insovency Practioner ( INVOCAS) have NOT being dealing with our affairs to the professional standard that has been displayed by yourselves. I hope that our ordeal will serve as a warning to prospective clients of PTD's, and can only re-iterate the neccesity to deal with PROFESSIONAL IP'S with a sound reputation.

Hi eoin8008,

Thanks for your kind words; it genuinely does mean a lot to everyone who gives their time to this forum.

It's a real shame that you feel your case has been handled so poorly. The company concerned are a major operator and I'd like to presume that the majority of the cases they handle are dealt with well.

Please let us know when everything is resolved.