Shona i bank with rbs and llyods tsb and i am owe neither bank any money through debt i just use them to pay my immediate bills such as gas, electricty and so on and buy shopping , i am going to go into them today and ask there advise in regards to what we have been talking about. Just keep ur finger crossed its positive.
I spoke to my gas and electricty company yesterday and they see there being no problems as i am on regular monthly payments with them and i'm not in massive arrears. I tried to speak to my phone company but failed to get the information i needed from virgin, the first call the girl did not have a clue what to say and after asking to speak to supervisor three time she ended the call and i had to call back. I got someone else who said i could just continue to pay at the postoffice but then said i could not keep an active account??? i struggled to understand his wording and he was short and sweet so i will try again at a different time.
Pamjo at the time of signing it all i did not make note i wish i had now just to keep me straight. I am on a lot of medication for my illness's and as i said at the time i had just lost my dad and i expressed this. I normally do write down who i spoke to and date as so on but at that time i didnt i guess i will learn from my mistakes nomatter of the outcome. I could just kick myself for not being smarter at the time.
I spoke to my trust deed company yesterday and they kept asking me what the problem was. i told them i felt as if i had not recieved all relevant information i should have at the time of signing my trust deed and that i would like to be discharged as i feel i can no longer comit without putting myself through more strain and stress on my health as i was not made aware since my income is all benefit based i should not have been on a trust deed and really been given more clear information in regards to sequestration. I explained about the mishap in decemeber and had not managed to make a complete payment to my trust deed, the lady i spoke to said it could be made up on extra time at the end of my trust deed it was not a problem. In honesty i felt as if i was going round in circles the lady was helpfull and so nice but i'm i don't think i got anywhere. She said she would speak to someone in regards to contrubutions i think it was of my trust deed, She never said they would not discharge me but never said it was not an option. I was told i would recieve a callback somtime today.

They are trying to get you to stay in a totally unnecessary trust deed for THEIR benefit and not yours. They want you to extend it longer to get more of a return for creditors and yup more for them as well.

I would insist on speaking to your IP and not any case manager etc,and follow the route discussed on here.

They will try to talk you out of it,but then they are the ones who talked you into it in the 1st place!!!

Very poor from them and does not reflect well on the insolvency industry as a whole when cases like this come to light!!

I know you shouldnt tar all with one brush but how can a company get away with giving out such poor advice and what recourse is there now??

Was it not mentioned on the forum about being put back into the state you were financially before the PTD if you were badly advised?

Paul

Hi Reidy1982.

Hopefully Shona will soon be able to add her thoughts on the banks you mention.

You may wish to put your concerns about continuing with a trust deed, given your circumstances at the time of signing and now, in writing directly to your Trustee personally and request that the trust deed is ended.

If you consider that sequestration is the best option for you it's going to be the case that the trust deed will need to be ended which will require the input of your Trustee. Writing to them personally may help you to avoid the barrier that can sometimes be created by frontline staff.

Hi plasticdaft.

It does seem like strange advice from what we've read, but no doubt the company concerned will have their reasons for the advice provided (which you/I may or may not agree with).

We may also need to be conscious that even good firms aren't going to get everything 100% right every single time. For example, we're really comfortable with the firms that are represented here by Kevin, Mark and Shona, but I doubt that they're perfect (or that they would claim to be perfect).
The firm mentioned in this thread isn't one that attracts much criticism here compared to some others.

Your comment about being put back in the position you were previously in is a very interesting one in connection to trust deeds. I think it was probably in connection to the questions we asked of the Financial Ombudsman and the article that we added to the site afterwards. Normally, that's what the Financial Ombudsman tries to do where they find that a complainant has been let down by a firm.

The problem with a trust deed, which they acknowledged, is that in most instances they simply will not be in a position to do this even if they wanted to. Also, their jurisdiction is restricted to advice before signing the trust deed only. The explanation/article is at:

(Blog now removed from website)

I did find Kevin's earlier post on this topic extremely interesting:

<i>"The Accountant in Bankruptcy advised all insolvency practitioners that NO payment should be sought from benefits towards a trust deed or sequestration and furthermore warned that trustees could be required to pay any money back that they have gathered in from someone's benefits."</i>

If ever there was a case worthy of being repaid, it seems this is.

Hi all

Unfortunately the argument for 'repayment' always relates back to S.187 Social security Administration Act, which only mentions Sequestration and Judicial Factors.

The inclusion of this stance is being considered for trust deeds also, in the new guidance/legislation. That said, my own opionion is identical to Pamjo.

As always, these things are open to interpretation, however the guidance states:

'In dealing with a trust deed the member (IP's) should bear in mind an overriding duty to ensure a fair balance between the interests of the debtor and the creditors'

Mark

....sorry should have said it does not mention the interest of the IP Firm or 3rd party referrers in making the decision!

Mark

We'll i have basically had such a bad day ive been resorted to tears most of the afternoon and evening in regards to the whole mess. Wish i had never gotten into it all i was trying to do the right thing and feel like its all falling apart around me.
I never recieved a callback at my home or on my mobile and when approaching my banks i got the following.
Lloyds tsb - The women on the enquires desk was very abrupt with me and rather snippy i asked to speak to an account manager but she said none where avaliable i asked if i could speak to her in private but she said they had no rooms avaliable at that time so i started to explained situation (With a queue of ppl behind me listening)all i got was the following if ur bankrupt our company can no longer hold u as a customer and ur account will be closed i can not advise u anymore, that is a fallout of becoming in debt as u obviously have done so, before i could even say anything she moved past me and spoke to customer behind me.
Rbs - At first it started off well, i explained situation and asked what will happen to my account, she said she did not think i would have problem unless i had a credit scoring account, i said i was not sure what type of account it was, it started of as a simple saving one but i got new debit card for it last year so not sure if it was upgraded, she checked for me and came back and said it was a current account and if made bankrupt my account would be froozen and it would then be put in front a risk assessment team who looks at how i got in debt and if i was a risk. Most people lose there accounts and have to either find a bank who are willing to take a bankrupcy client at a risk or take the risk of my account being frozen and waiting weeks maybe even months for them to decide weather or not i can continue to be a customer of there. I left there in tears and have been rather upset since.
I dont even know what to do when it comes to the whole banking situation, or who to go to open an account that will last through a bankruptcy.
Me and my partner spoke today and i know for sure that the 170 a month into the trust deed is crippling and for last few months we have struggled badly since i started it. Feel as if i am back to square one again.

Reidy....

Just to let you know am with Virgin Media TV/Phone/Internet and I just pay them the every month via Direct Debit, they have never asked me for money upfront or deposits......

Just thought I'd let you know, I hope you get it sorted out...

Hi Reidy1982.

Co-op Bank and Barclays are often talked about in terms of offering accounts to people who are bankrupt. The Co-op Cashminder account is often mentioned here.

Even if you cannot get one of these free accounts (which I think is unlikely), there are paid for accounts with the likes of Think Banking and Secure Trust.

Please don't worry that you'll have no access to banking. There should be an answer for you; it's just a case of picking the best answer.

Hi Reidy1982

Sorry it has all become a bit of a mess. If it helps ( & you don't stay in the Outer Hebrides) I'd be delighted to sit down with you and run through everything to help get things sorted.

I'm out and about all next week, so can easily divert a wee bit & sit down with you & run through things.

It probably all seems messy, but honestly it is easily sorted.

Mark ( All I ask is a coffee)

Totally outstanding offer Mark,I'd want a coffee and a biccy too!!!

Reidy,you'd be crazy not to take up this generous offer!

Paul

Hi Paul

No biscuits please. Just had 2 weeks of chocolate over Xmas and New year, although it was that no calorie fat free kind. The kind my wife seems to eat!!

Mark

OMG Mark you are a true gentlemen i would very much like that please only if you have the spare time that is,I know how busy you can be. i clicked your profile and noticed glasgow office and i actually live there so please let me know how to contact you with my details and i will gladly have piping hot coffee to hand when you knock on the door.

Porcupine who is you bank with to pay virgin through direct debit if you dont mind me asking? looks like i will loose both accounts so would have no direct debit facility unless i can get an account elsewhere that has that facility?

I looked on the coop banking site and i saw cashminder account which i have to go into a branch or call them, do i explain to them about my finacial mess before attempting to open the account? or just go ahead and open. Which account is it with Barclays does anyone know i looked on there site and could only see current accounts and so i assume those are scoring accounts like my rbs as that was a current account too? i dont want to apply for the wrong account and have it taken away from me soon as i get it.

Hi Reidy1982.

Please click the "Contact Mark" button that sits in his forum signature. It will take you to a page where there is a contact form you can fill in. I'd suggest you mention your forum name on the contact form.

Re: Co-op Cashminder account. The account criteria does not stop you from applying even if you are in a trust deed or bankrupt. I'd suggest you just answer the questions that they ask you.

I'm unsure about the specific Barclays account and hope someone else can provide details.