I’ll take your comment on board, however it IS FACT that I was (edited), questions I asked were replayed with information that has just came out to be completely incorrect.
I have never disputed That fact that form were signed by myself, as I’m sure you will understand when entering in to such a scheme it all seems good especially when it was sold that way and none of the bad points/effects and different options were pointed out or talked about.
Companies have protocol to follow and this was not done so until the fees are quashed by the company or a court sides with the company that is the point I will stop fighting, not on the basis of a post from someone who knows nothing about the details of my case.
Thanks for the reply tho.

Hi lmneeson.

Words have been edited because they breach our editorial policy. Also to protect you.

I know you feel strongly about this situation, but if you want to keep posting here (which you are very welcome to do) then I'm going to ask you to be careful with the words that you choose.

You're expressing your view of this situation. The firm will have an opportunity to express their view in due course. An external party will then make a determination.

None of this is said to question your sincerity or integrity.

How about you (edit) the companies name and then I might be able to have what I wrote stand?
As for the company I welcome a response from them as the complaint has now escalated with the assistance of AIB, however escalating to the compliance team I can expect a response in 8 weeks. Very good.

Also can you email me your editorial policy as it seems to me you are alright to post on here just as long as you don't say anything bad about a trust deed, I want to make sure I abide by your rules its just I thought this was a forum where you can express your views, not be silenced every time you speak out against the trust deed scheme.

quote:

---

Originally posted by TDA (Debt Adviser)
[br]Hi lmneeson.

Words have been edited because they breach our editorial policy. Also to protect you.

I know you feel strongly about this situation, but if you want to keep posting here (which you are very welcome to do) then I'm going to ask you to be careful with the words that you choose.

You're expressing your view of this situation. The firm will have an opportunity to express their view in due course. An external party will then make a determination.

None of this is said to question your sincerity or integrity.

---

No thanks.

Read around. There's thousands of posts. Positive and negative.

How many do you see that have been edited by us?

Hi Imneeson,

It sounds like you are really frustrated with your Trust Deed and the advice that you tell us you received at the outset.

I know you are searching for answers and commenting on old posts but in terms of advice and help I don’t know how much useful guidance the forum could give you to resolve things quickly for you or to give you comfort that what you want to happen is possible.

On the forum I can’t recall a post from someone that has advised their Trust Deed has been made void and the person put back to the same position as if they had never signed a Trust Deed.

I think it’s a good idea to see how things go with your complaint to your Trustee and if you have taken this up with the Accountant in Bankruptcy wait on the outcome of that. It’s never easy waiting for an outcome or decision especially something like this but in this case I think it’s the only way. Once that has happened we can try and help further with advice.

Hi Swandog, trust me i've been looking, just because its rare doesnt mean its impossible, misselling is a serious matter.
I am over £2000 further in debt today than I was nearly 3 years years ago £5474 with that doesn't include the payments I have made for the last 3 years, so yes it is a little frustrating when i pressured in to signing the paperwork and this is where we are at now.

https://www.gov.scot/publications/foi-19-00288/

What an interesting read

How can one IP possibly manage 2060 trust deeds?

Hi fcwalker,

With the right systems, staff and case management procedures It’s not difficult to manage numbers like this or even more.

The IP is legally responsible for the case but a whole team/firm is required for the administration of cases.

Same way another one can have over 8000

quote:

---

Originally posted by Swandog
[br]Hi fcwalker,

With the right systems, staff and case management procedures It’s not difficult to manage numbers like this or even more.

The IP is legally responsible for the case but a whole team/firm is responsible for the administration of cases.

---

I agree with Swandog

An IP can effectively manage a large case load as long as they have sufficient controls and processes in place with the correct number of staff.

For example, in my firm we have 2 qualified insolvency practitioners and also have 3 managers who have JIEB insolvency practitioner qualifications but are not licensed to act.

The best course of action is to raise a complaint to the trustee detailing the issue of your compliant and affording them the opportunity to respond. If you believe the issues have not been resolved then you reserve the right to take your complaint further either to the AIB or their Regulatory Body.

I agree with Swandog, given the legal mechanism of the trust deed , it is highly unlikely the trust deed can be nullified as the mechanisms to close the deed are pertained within the document itself. If anything, the trustee could be fined but the funds do not go to the individual.

The trust deed process is contained within the legislation and in addition to the act, there are Statement of Insolvency Practice otherwise known as SIPS.

The purpose of SIPs is to promote and maintain high standards by setting out required practice and harmonising the approach of insolvency practitioners to particular aspects of insolvency practice. SIPs set principles and key compliance standards with which insolvency practitioners are required to comply. They apply in parallel to the prevailing statutory framework and will form the basis of any complaint against the trustee.

Sip 3.3 deals with trust deeds. https://www.icas.com/__data/assets/pdf_file/0009/2250/SIP-3.3-Scotland-Trust-Deeds-ICAS.pdf

I would give this a read and identify anything the IP didn't follow as part of any complaint.

Hope this helps

Hi Sharon

Thanks for the reply, I am not looking to be compensated.
What I want is exactly what was sold at the beginning of the trust deed, the chance to buy the trust deed out as said buy the companies sale guy standing in my kitchen.
This includes paying my creditors in full and the admin fee as I can accept there being admin work at the start, the additional £3987.41 is what will be fighting for, wither the company want to keep the most of the money I pay that's up to them, at the end of the day a trust deed can be brought to a close if all fees and creditors are paid in full, so I'm afraid I'll be fighting to have the company absorb their cost for the (edited) they told to get me to sign-without giving me anytime to read what exactly what I was signing.

quote:

---

Originally posted by Sharon Toal
[br]
I agree with Swandog

An IP can effectively manage a large case load as long as they have sufficient controls and processes in place with the correct number of staff.

For example, in my firm we have 2 qualified insolvency practitioners and also have 3 managers who have JIEB insolvency practitioner qualifications but are not licensed to act.

The best course of action is to raise a complaint to the trustee detailing the issue of your compliant and affording them the opportunity to respond. If you believe the issues have not been resolved then you reserve the right to take your complaint further either to the AIB or their Regulatory Body.

I agree with Swandog, given the legal mechanism of the trust deed , it is highly unlikely the trust deed can be nullified as the mechanisms to close the deed are pertained within the document itself. If anything, the trustee could be fined but the funds do not go to the individual.

The trust deed process is contained within the legislation and in addition to the act, there are Statement of Insolvency Practice otherwise known as SIPS.

The purpose of SIPs is to promote and maintain high standards by setting out required practice and harmonising the approach of insolvency practitioners to particular aspects of insolvency practice. SIPs set principles and key compliance standards with which insolvency practitioners are required to comply. They apply in parallel to the prevailing statutory framework and will form the basis of any complaint against the trustee.

Sip 3.3 deals with trust deeds. https://www.icas.com/__data/assets/pdf_file/0009/2250/SIP-3.3-Scotland-Trust-Deeds-ICAS.pdf

I would give this a read and identify anything the IP didn't follow as part of any complaint.

Hope this helps

---

Unbelievable read I've just went from having a few ground of mis selling to 21.

ONE VERY INTERESTING POINT, WOULD BE NICE IF ANYONE CAN CLARIFY?

The acceptance of commissions from a third party by a Trustee during a Trust Deed represents a significant threat to objectivity. Such commissions should only be accepted for the benefit of the Trust Deed estate and not for the benefit of the insolvency practitioner, his firm or any associate of either (as defined in section 74 of the Act or section 435 of the Insolvency Act 1986). Such payments should be reflected in the case accounts.

I have already put this to the company on two separated occasions in the last couple of weeks as it is not the first time I have seen it, I have been informed by them (it is not an option) yet they will not put it to the creditors

quote:

---

Originally posted by lmneeson
[br]Hi Sharon

Thanks for the reply, I am not looking to be compensated.
What I want is exactly what was sold at the beginning of the trust deed, the chance to buy the trust deed out as said buy the companies sale guy standing in my kitchen.
This includes paying my creditors in full and the admin fee as I can accept there being admin work at the start, the additional £3987.41 is what will be fighting for, wither the company want to keep the most of the money I pay that's up to them, at the end of the day a trust deed can be brought to a close if all fees and creditors are paid in full, so I'm afraid I'll be fighting to have the company absorb their cost for the (edited) they told to get me to sign-without giving me anytime to read what exactly what I was signing.

quote:

---

Originally posted by Sharon Toal
[br]
I agree with Swandog

An IP can effectively manage a large case load as long as they have sufficient controls and processes in place with the correct number of staff.

For example, in my firm we have 2 qualified insolvency practitioners and also have 3 managers who have JIEB insolvency practitioner qualifications but are not licensed to act.

The best course of action is to raise a complaint to the trustee detailing the issue of your compliant and affording them the opportunity to respond. If you believe the issues have not been resolved then you reserve the right to take your complaint further either to the AIB or their Regulatory Body.

I agree with Swandog, given the legal mechanism of the trust deed , it is highly unlikely the trust deed can be nullified as the mechanisms to close the deed are pertained within the document itself. If anything, the trustee could be fined but the funds do not go to the individual.

The trust deed process is contained within the legislation and in addition to the act, there are Statement of Insolvency Practice otherwise known as SIPS.

The purpose of SIPs is to promote and maintain high standards by setting out required practice and harmonising the approach of insolvency practitioners to particular aspects of insolvency practice. SIPs set principles and key compliance standards with which insolvency practitioners are required to comply. They apply in parallel to the prevailing statutory framework and will form the basis of any complaint against the trustee.

Sip 3.3 deals with trust deeds. https://www.icas.com/__data/assets/pdf_file/0009/2250/SIP-3.3-Scotland-Trust-Deeds-ICAS.pdf

I would give this a read and identify anything the IP didn't follow as part of any complaint.

Hope this helps

---

---

lmneeson has been suspended from the forum.

This is incredibly rare. It's been years since it last happened.

The issue isn't having strong feelings about the way they've been treated. The issue also isn't about discussing situations where there's a perception that something's been done wrong.

The issue is presenting opinion as being fact. This is an explicit agreement that people make when they join the forum. Opinion should be presented as opinion.

The second issue is writing potentially defamatory material within the site. We'll remove or edit that when we find it. We're not prepared to host it and we don't want anyone who posts such material to remain at risk from it for any longer than they've already exposed themselves for.

An email has been sent to lmneeson. They'll be welcome to participate in the forum again from next week if they're prepared to comply with the standards and rules that we have in place.