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Scottish Trust Deed Forum
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Topic starter
23/05/2011 7:29 pm
Hi I'm thinking about going for a trust deed after speaking to someone from Gregory Pennington,they advised that trust deed would be best option for me, i still wasn't sure and told them i was going to look into trust deeds a bit more before i decided,but i want to go ahead with the trust deed, now the forms are here i need help filling them in should i phone them so they can help me fill in over the phone because they did that at the start but i didn't write anything down? also they asked for a starting fee to set it all up and it was too high so they dropped it down to a sum i can afford but the letter still has original fee on it, not sure what i should do.
23/05/2011 7:47 pm
Give them a call, that's what they are they're for - although we're all in a mess financially etc, don't forget that you are GIVING the trust deed company a lot of money - you're their customer, love xx
23/05/2011 8:28 pm
Welcome to the trust deed forum tracey williams.
Gregory Pennington aren't themselves a provider of trust deeds. They will look to pass you to another company in their group for a trust deed. You could approach this company about a trust deed directly and not pay a fee, so it's difficult to find any good reason why you should pay anything at this stage. That may explain why they were happy to reduce the fee so quickly.
Any decent trust deed provider will be more than happy to assist you with filling in the required paperwork if you contact them and you shouldn't have to pay for the privilege.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
23/05/2011 8:37 pm
Hi Tracey
TDA is correct, there is no requirement for an up front fee.
Best advice is to sit with an IP and run through all the options available. This would all be free of charge.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
24/05/2011 7:16 am
Hi Tracey,
The company GP will pass you onto are Wilson Andrews. There are lots of posts on here about this company that I recommend you read them all before choosing someone to represent you. I was initially on a DMP with GP for a number of months before they recommended a trust deed with WA. After their failure to provide responses to my questions on bonuses, equity etc. in writing and their request for £ 500 to release interest in my property I turned to this forum for advice and ended up chosing Mark's firm for my trust deed.
It is clearly up to you to decide which firm to select but I would do your research.
I'm am so relieved that I didn't sign with WA and I can't thank Mark enough for his advice. My trust deed application ended up being set up very quickly with clear and much fairer terms than WA were offering.
My 5 weeks waiting for protection has now passed and everything is fine. Although entering a td is a big decision and very daunting, for me at least the future is looking good.
Good luck
Suzi
Topic starter
24/05/2011 8:00 am
Thanks for the advice everyone
