Hi Mark, it's true, we have never recovered any costs from a TD. All I can hope for, , in the present financial climate is, that if any of our members feel the need to enter into a TD, they go to one of the reputable companies who are contributing here on the forum?

To be fair CUCRAZY a forum by its nature is going to attract questions from people who aren't sure about things.

I do agree that the subject itself, some of the technical language attached to the subject, and some of the misinformation that is pushed out about the subject in certain quarters doesn't make it easy for people.

There are lots and lots of rules. However, the very nature of the subject is so wide and varied that scope has to be left for a Trustee to make a judgment call in some instances.

Were insufficient checks not in place in connection to this thread? Possibly, but while I have no reason to disbelieve anything that robbiegwa has written we need to remember that we have not had the benefit of understanding the perspective of the Trustee on this situation.

If there is anything we can do to help your credit union understand trust deeds better please get in touch directly with us.
Likewise, your views and perspective are very welcome here in the forum as well.

Incidentally, I just checked the list of Scottish trust deed firms here on this forum and the companies who have served a TD on us do not appear on the list..

Thank you TDA, wee just might take you up on that

The list isn't presented as being a list of all trust deed firms. Nor is it an endorsement of any of the listed firms other than those we have chosen to feature in the forum (and we're not saying they are the only good firms, there are plenty of others).

To take a trust deed appointment you must be a properly qualified, registered and regulated insolvency practitioner.

How many trust deeds have arrived in your office? I can imagine it must be very tough on a small credit union when it happens.