Hi candlewick,

One of the downsides of operating a forum is spam posting. I’ve spent many an early hour ‘gardening’ to dispatch our overnight visitors!

A ‘no link policy’ is great cover for member and spam post deletion, but we’ve become a little more relaxed over the course of time.

In general we’d prefer people to avoid linking out. Often the external links become redundant at some point in the future, which provides a poor visitor experience for those who click the links later after the destination page ceases to exist.

However, for our trusted forum members who seek to educate and inform, we’re happily turning a blind eye. Link away!

I think this is the link?

https://digitalpublications.parliament.scot/Committees/Report/EEFW/2020/5/21/Protected-Trust-Deeds

All introducers required to be FCA authorised and regulated debt advisers? That’s potentially a fast and meaningful win for consumers.

Of all the detriment reported in this forum (since 2007) nothing compares to the frequently terrible impact of dodgy unregulated “advisers” and their IP partners who have chosen to turn a blind eye.

That's the one!

Thanks TDA [:)]

And thanks again to Kayak [:)]

Hi,

Has there been any further update to this publication? A couple of points in it that was raised that I'm interested in finding out more about but for the life of me I can't find anything else..

Thanks in advance 🙂

Hi gibbo8907.

Which points were you interested in finding out more about?

Hi TDA,

It was mainly points 149 & 150 (Early termination of a PTD) as I was in quite a similar position at one stage during my trust deed that the high fees stopped any potential family member helping to settle in full. So this bit caught my interest when I first read it.

Hi gibbo8907

I think you will find that at least some of these changes will happen eventually - certainly there is now a working group in place to review Scotland's statutory debt solution framework in general, including Protected Trust Deeds, as requested by this committee. They will no doubt be using the report as a starting point.

However, most of the suggested improvements would need amendments to primary legislation and these things tend to move quite slowly. Focus has recently been on making "quick win" changes to help those affected by the coronavirus pandemic. There is also an impending Scottish parliamentary election which will need to be done and dusted before they government could consider devoting any time to this subject in a legislative sense.

I would be surprised if there were any major changes to Protected Trust Deeds this year.

I agree with the points raised. As Kevin suggests, the likelihood of any changes are highly unlikely to happen in the foreseeable future.

Google has made changes to advertising meaning that only FCA regulated firms or Insolvency Practitioners are able to advertise on their platform and this should be encouraged by other platforms.

One point worth mentioning is that legislative and regulatory changes often resolve problems but give to unintended consequences. There needs to be a full review on debt solutions and take a proactive rather than a reactive approach.

Thanks for that, I did think it would be a longer process that current time has allowed.

My reason for asking was another post in regards to early settlements got me thinking about my previous situation and also brought this report back to the front of my mind so was interested if more had been done since.

Thanks for the replies guys!