Welcome to the forum sansa.

Not a question I can comment on, but others may be able to share their insight with you.

Hi Sansa, I used trust deed Scotland also and have to say I cant complain with their recommendations, albeit, they referred me to another company. At the end of they day however, they are a middle man, and as such will no doubt receive commission for referring you to Knightsbridge. Whilst this doesn't really matter to you as you won't pay it, the general advice that I wish I had received, is that you should speak to a few different companies so that you are certain that you have covered all variables, and are satisfied that there are no unknowns in what you are agreeing to. What ever you decide on tho, make sure you get all your agreements, re car, equity, bonus etc agreed in writing before signing anything. Good luck!

Ally

Hi Sansa. I too went through Trust deed Scotland and am currently with Knightsbridge. I have to say I have found them helpful prompt and fair. I did all this before finding this forum. I would urge you to speak with several different ISP's. I cannot help but think I could have got a better "deal" than the one I signed. As I said nothing wrong with the service but feel I could be paying the same per month but over a shorter period by cutting out the middleman. I am 17 months into a 45 month PTD.

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Hi thanks for the replies. I have decided to go with wylie & bisset. I have heard much better reviews about wylie & bisset. I called them today and done much of the work over the phone. Someone from wylie and bisset will visit me on Tuesday with the documents to sign for the trust deed. I felt they have handled things in a much better timescale they seemed much more thorough and I feel much more confidence in this company. I didn't like the fact that scottish trust deeds are only the middle men. I don't want passed pillar to post. I want a local company or at least one based in Scotland. I had the misfortune of having to call knightsbridge today, once after waiting for about 5 mins the phone disconnected when I eventually got through I spoke to 2 different people before I managed to speak to the person whom I had asked for. I am in no way dissing either company but I feel better in myself for choosing wylie and bisset. It has been with the help of this forum that I have had the guts to not just jump into the first company who promised a way out. I hope to sign the trust deed and fingers and everything crossed the trust deed will become protected.

I was given knightsbridge to contact to get a trust deed they were great when applying for it but became nippy when I questioned their extortionate rates. they applied to an old bank account to have PPI and were abusive when I told them the money was not put in our working bank account and must have been put in the account that we had closed.have not heard from them if they got the money or not! what do they do with this recovered money? I told them that surely I was entitled to some of the money as paying for these PPI's would have contributed to my debts but they again were quite abusive. fed up still have 4more yrs with them.

Hi sansa

I'm confused by this thread. You contacted a firm and asked for people's opinion on the forum. You received fairly positive posts, but decided to use a firm who will be turning up on Tuesday after one telephone call with the trust deed signing paperwork with no previous meeting!

Sometimes posts don't really make sense.

Yes i know it seems all a bit up in the air. Yes I did ask for advice on knightsbridge, and yes the replies were fairly positive. I have not just jumped into this with my eyes shut. I had a gut feeling and I acted on it. As you can see wylie and bisset are one of the recommended firms on this forum. Other threads have not as much positive things to say about knightsbridge. I did not have to give a comment on my actions but if it helps someone to make up their mind then were is the harm. The other comments did say they wish they had been advised to check other ips out. As you can see there is also a less favourable comment about knightsbridge on this thread. There is no harm asking for advice and then giving feedback on the choice you have made. As I said it could help someone out. I don't see your comment as been constructive only negative, especially when people are going through a tough enough time. We should all help each other instead of bringing negativity. I've actually had dealings with wylie and bisset before and found them to be a very helpful company. I should have used my common sense from the start instead of a week of hanging in limbo which I've had with the other company.
Just to add, the time I spent on the phone was nearly 3 times the length of time I had allocated for a home visit by trust deed scotland. Everything I did at the home visit I did over the phone all documentation was emailed to wylie & bisset. Even though I had a visit from trust deed scotland I still had to email documentation to them so were is the differance? Also I would never have met the ips who would have dealt with my trust deed. It would have just been a voice on the end of a phone. With wylie & bisset you are meeting your ip. They are based Glasgow so any problems you can call into there office. I just hope this makes my post that wee bit clearer.

Welcome to the forum pinkjaney.

Money recovered from PPI claims is used to repay more to your creditors.

Your ability to make a PPI claim is considered to be an asset. This asset (just like equity in a home or car) "vests" in your trustee when you sign a trust deed. You make the trustee responsible to work out whether the asset can/should be used to repay more to your creditors.

Because of the above you would not be entitled to receive a proportion of the funds that were received.

Hi Yellowdebs,

I can see where you are coming from with the advice for sansa.

I wanted to give an idea of the process of how we deal with cases as it might appear that things are moving a little quickly.

What tends to happen in the majority of cases is an initial interview will be carried out on the telephone with a client. This will allow us to establish the level of debts, what assets the client has and to then work through a thorough income and expenditure. After we have done this we can then advise the client of all their available options. I find that this process normally takes around 1 hour to complete, sometimes longer.

If the client feels comfortable with what we have told them and is happy then we offer the client a home visit, office appointment or to meet anywhere else the clients feels comfortable meeting. This again will allow us to discuss everything in person, make sure the client is happy and if they are then the client can take steps to proceed with a Trust Deed. Again I find that this process can take at least an 1 hour but again sometimes longer.

With our Trust Deed's even although the client signs the Trust Deed they are not actually legally tied to it until we send them out a terms and conditions letter and provide them with a 7 day cooling off period. It's only then that the Trustee will countersign the Trust Deed and it them becomes legally binding and effective. All in all from the point we speak with a client and in this case the client will have had approx. 2 ?¢ weeks to think everything over before they are tied into the Trust Deed. A good amount of time to stop the process if they are not happy with anything.

I do think that's it's best to deal with an IP who is based in Scotland. As you say sansa if there are any problems you can always pop into the office for a chat.