Reidy, I bank through HBOS, but the CO-OP Cashminder account allows you to set up Direct Debits.....

By the way, I wouldn't necessarily take the word of the bank staff in the branch, Reidy. In my experience the majority of banks will allow customers to retain their bank accounts when sequestrated as long as they are not a creditor too, though they may downgrade the facilities available. There is often a temporary freeze until they get the go ahead from the trustee to un-freeze it, but that is usually all.

Hi Reidy,
I hope you get it all sorted out, some bank staff just like to hear themselves speak and can very rude, try to ignore these people and speak to someone higher up.
If it means anything I am with Santander, they did not ask any questions. I just went in and opened a basic account nearly 2 years ago when I took out my trust deed and its still fine. Good Luck.

Hi all

I hope Reidy1982 doesn't mind me expanding things on the forum following our meeting.

We had a meeting earlier today and as a result, I have no doubt whatsoever that the Trust Deed was the wrong solution offered, based on the circumstances. There is nothing in the paperwork which would suggest that the Trust Deed is beneficial to Reidy1982. The total household income is means tested benefits based income with little or no surplus.

The obvious solution would have been sequestration which would have had an entire cost of £100 as opposed to the £10,200 to be paid as a result of a 5 year Trust Deed proposal. Even by some miracle if the Trust Deed had been viable, the 5 year term was unnecesary.

Of greater surprise is that the matter was dealt with as an initial enquiry to CCCS (The free debt charity!) via paypal who initially suggested the Trust Deed as a solution. They were paid £780 for the advice.

Mark

Thankfully, Reidy found the forum, and Mark and has had a chance to review this-can it be easily sorted or switched to bankruptcy?

So going back to this potential complaining and being put back to the way you were prior to entering a trust deed if the advice given can be shown to be wrong?!? Any possibilities of Reidy getting some money back(although this would no doubt end up being taken by sequestration)?

Shocking that someone could potentially be robbed of £10k plus legally!!!

Dick Turpin anyone.

Paul

Bad as it is, I'm assuming this will be at the worst example end of a spectrum?

Hi pamjo

If only it was.

Unfortunately it happens in every walk of life. IFA selling policies for instance, the 1st earns him £200 commission and the 2nd £1,200. How many would give a balanced view on both without leaning towards the greater commission. Same for cars, kitchens, roofs, gardens, driveways......

I had a quote for 6 double glazed window from a company ( whose snowy peak I would not like to scale) - £42,000. No I didn't mis type the number. I was half way through the 'call to my manager/old windows scrappage scheme/family discount' nonsense before I told him to politely exit my home.

The biggest problem is the vulnerability of individuals worried about their house, legal action etc being contacted by middlemen companies/receiving cold calls or answering STV ads promising the earth.

The solution? Ask, ask, ask and ask again. Ensure you meet with the IP COMPANY and no reps and ensure you have EVERYTHING absolutely confirmed in writing, especially re equity, cars etc and do not sign anything at a 1st meeting and then wait until you have read everything fully in your own time and only when you are completely satisfied. As my old maw always said, if you don't then Hell mend you!

Mark

Hi Mark,

Just re: your earlier post, I presume it's Payplan rather than Paypal?

I think it's absolutely wonderful that you have given your time and knowledge to help Reidy1982 in this way. We all felt concerned reading the thread, but you truly have gone above and beyond to help.

Paul,

You're entitled to your opinion and to express it, but for the sake of balance I think we need to be careful about using terms like "robbed" here (though you did caveat it with the word legally!) when companies have been named in a thread. The charity and free-to-client business mentioned here are well known and well respected, though some readers might be quite surprised to see that money has changed hands when the case was passed by them to a trust deed firm.

Hi Trust Deed Assistant

Ooops sorry, meant Payplan.

Interesting point that Reidy1982 was advised that she was just above the max income allowed for the LILA sequestration, even though the income is ALL benefit based. The guidance on income is:

If you receive income support, income-based jobseekers'
allowance, working tax credits, pension credits, employment
and support allowance, housing benefit or council tax benefit
you will be treated as meeting the low income test, even if
your actual income is more than £237.20 a week.

Mark.

PS Just thought, Paypal nearly received one helluva letter by mistake!

quote:

---

Originally posted by Trust Deed Assistant

Hi Mark,

Just re: your earlier post, I presume it's Payplan rather than Paypal?

I think it's absolutely wonderful that you have given your time and knowledge to help Reidy1982 in this way. We all felt concerned reading the thread, but you truly have gone above and beyond to help.

Paul,

You're entitled to your opinion and to express it, but for the sake of balance I think we need to be careful about using terms like "robbed" here (though you did caveat it with the word legally!) when companies have been named in a thread. The charity and free-to-client business mentioned here are well known and well respected, though some readers might be quite surprised to see that money has changed hands when the case was passed by them to a trust deed firm.

---

in my defense payplan hadnt been named when I made my comment!!

The companies must take the good with the bad though,and if mistakes have been made its only fair to highlight them.

Paul[:D]

Hi plasticdaft.

People are pretty much free to write what they wish on the forum, provided that they are prepared to take personal responsibility for it of course.

It's very very rare that we ever feel the need to edit or remove anything.

In principle though we don't want Trust-Deed.co.uk to be a "name and shame" type of website. Our first aim and priority has always been to help anyone who asks a question here with the advice or information that they need, rather than focussing on the firms involved themselves.

Naturally specific firms will come up here as part of this process, and that's understood and fine. However we're conscious that most of the firms aren't represented here and therefore we often don't have the benefit of both views on a situation when assessing an issue that arises here.

Totally understand that TDA,I think Scotland would benefit from a trust deed company review type website,because the choice is staggering and if you get the choice wrong it can affect you for a very long time.

If its the case that Reidy has been given duff gen then its only fair to highlight how this came about,and in so doing educate others.

The TD firms will not get it right every time,and often people only go to print with bad experiences but people could be encouraged to leave feedback on a site if it was set up correctly.

Do you know if such a site exists,when you search for trust deeds you tend to find lots of web sites trying to sell the idea with very little in the way of real customers feedback which would be handy.

Paul

I think I know the site that you're referring to South of the border Paul. My personal opinion is that you have to take the information on such sites with a pinch of salt.

Have you ever wondered while one firm on there will have hundreds of reviews (most of which are very positive) while another similarly sized firm has very few reviews at all?

I'm not aware of such a site operating in connection to trust deeds.

If it were done right it would be brilliant, but I think it would be really really hard to do it right.

All the more reason for companies to be mentioned on here whether good or bad.

The last thing you want to do when trying to sort out your debts is make a decision thats not right and ends up with you getting into more trouble,things like a 36 month trust deed to protect your house only to find that when you cant get at substantial equity your trustee wants to sell up to realise this money!!!

Its hard enough facing up to your debts,the last thing you want is the worry of going with the wrong firm!!!

Paul