Welcome. Well done on taking the first steps, if like me you probably feel a whole lot better already. I personally wish I had found the forum before I signed my TD and before mine ran into problems so you are in the right place. Only advice I can give is get everything in writing and make sure understand whats happening, if you don't understand something ask, from everything I've seen on here Mark and his firm offer nothing but friendly professional advice and I've seen no negative feedback for him or his firm, like I say I wish I'd found the forum before my TD but even now I continue to pick up hints and tips that are still useful. Good Luck.

Hi,

Do you mind me asking what sort of problems you had? Is everything ok now and how are you finding things financially being in a TD

thanks

Louise

Spent too much and kept my head in the sand for too long. Communication (or lack of it) issues from my Trustee, and frankly mislead from the start regarding property equity. My TD is now discharged, I still owe money that I had to borrow to get out of it, but thankfully not to people who will arrest my wages or make me homeless. Financially now we are still struggling not entirely sure how we paid the TD monthly for 3 years, but I do realise its because the price of everything went up in that 3 years, and my Trustees basically said tough and still wanted the same amount off me which I know now should not have been the case. A TD isn't for everyone and Mark may still tell you -its not your best option, but you can be confident that you will get fair impartial advice that will be right for you.

Hi Luby, don't feel embarrassed it takes courage to make that step you have just made. This is the tip of the iceberg now, things will get better. I think you have picked a good IP as well. I better add that all the IP's are a good choice on here before I get a bashing.

Hi Luby

I am half way through my TD, 18th payment made this month and like a lot of people I only found this forum after entering TD
However everything was straight forward with my circumstances and I haven't had any problems so far

I found it difficult to begin with to stick to a budget but now I've become much more careful with money, I shop around and know that once TD is finished I will be able to continue with that and even save some money for the first time ever!

Hi luby

Well done on taking positive steps to deal with your financial difficulties which can sometimes be the hardest. It sounds like you have tried to do everything you can to manage your situation without outside help.

A Trust Deed can be pretty straight forward and easy to set up and I'm sure Mark will explain everything to you.

Good luck with everything but I'm sure things will be fine.

Welcome to the forum luby.

I think you've taken the most difficult step already by reaching out for help and advice.

One little tip for you... we used to recommend the Nationwide basic account because it nicely fitted the bill for people that are in trust deeds and because we wanted to have a sentimental attachment to the idea of a mutual (rather than a bank).

Since then Nationwide have decided that they have no interest in people that are in trust deeds and none of their accounts are available to people that are. An account with them may therefore be at risk if they discover that you enter a trust deed.

It's sad really... a mutual advertising that they're different to banks while demonstrating a lack of social responsibility compared to most high street banks (in terms of protected trust deeds at least).

Worth remembering when you next see their TV ads about how lovely they are.

Nationwide rant over!

Hi,

Oh dear just completed application for Nationwide basic acount. I just popped into branch yesterday for the convenience, as the Cooperative branch is in another town from me. Has anyone had any problems with Nationwide lately whilst in TD. Would i be better opening with the Co op?? Any advice welcome.

Thanks

Louise

I'm with the tsb, but in the days before I signed my trust deed i opened a basic account with the rbs. I never had a problem with any of the accounts. The reason i have Two different accounts is that some banks have been known to close accounts of those who have entered a trust deed. But I've read less of this happening lately in the froum. Dont let on that your potentially going to signing a trust deed when you apply.

I didnt know about the bank account issue I had just opened a new one with First Direct as soon as my Trustees sent in the Standing Order form the bank phoned them who told them I was in a TD and they promptly closed my account. No warning no time period no nothing your accounts shut go to the nearest branch (which wasn't easy) I was then left a pile of cash but no way to pay anything. I opened a Readycash account with the Clydesdale in the branch was upfront about why I needed it and they were fine and I've had no problems with it since.

Hi luby,

People sometimes set two accounts up with two separate banks in order that if one bank closes the account they then have a spare account sitting waiting to use.

You might feel a little better doing something like this.

Hi luby
We went with the coop basic account and have had no problems with them, we don't have a branch close by but you can use the post office or some of there stores to bank, with this account though they have a 3 strike policy so you have to make sure you have funds in account at all times as they will close it if you don't adhere to this.
Once you have signed your trust deed the time will fly in as we have just been discharged and it doesn't feel like it was 3 years ago we entered the unknown but so glad we did as once it's protected the relief and getting a good nights sleep were great.
Good luck

Bravator

Barclay's bank - Couldn`t have been nicer with me. They even stated I had done the right thing with managing my finances and have no issues with a TD.

Welcome to the forum. As someone who has run the course if a trust deed you will not regret it provided you make the right choice of company to work with.

Chatting to marks lot is a decision well made.

Ask as many questions as youcan, knowledge is power.

Paul