I think we need to emphasise again that the vast majority of Trustees are honest and hardworking professionals.

A web forum such as this naturally attracts feedback from those who have been disappointed with how their Trust Deed has been handled; very often with good reason. Everyone involved with the site has been appalled by some of the stories we have read about and have tried to assist the process of resolving the problems.

For most people who enter into Trust Deeds the process represents a sensible step to deal with overwhelming debt that could not be repaid otherwise. For most people that complete Trust Deeds the process has been effective and enables them to make a fresh start.

The key is, like with any other major decision, to choose very carefully the people who will help you. Speaking to a number of firms is one way of doing this, as is asking questions in a forum like this one. There are a lot of good firms handling Trust Deeds who will treat their clients with professionalism and respect.

Hi - I too have had major problems with Invocas which I am still trying to sort out!

Still haven't been discharged from TD despite contributions being paid in full - still awaiting outcome of Cartel!!

However I do agree that TD are a solution for many people with debt problems - we just need more independent advice - forums like this really help!

Hello liana,

I cannot believe that situation hasn't been resolved yet.

What have Cartel and Invocas got to say about it?

Dear Fiferover, really sorry to see your predicament, I'm wondering who you asked advice from? I investigated complaints procedure, and it goes something like this; IP first, if negative response his regulatory authority (usually ICAS), if negative response AIB, if negative response final port of call is Ombudsman, maybe all is not lost? Kind regards eoin8008

Hi eoin8008,

Have you made progress with your situation and concerns?

jUST TO LET EVERYONE KNOW BORROWED THE EQUITY NEEDED FROM MY MUM.
FINAL PAYMENT HAS BEEN MADE. GOT LETTER FROM INVOCAS STATING THE TRUST DEED WOULD BE FINALISED ON 26TH FEBRUARY IF NO OBJECTIONS.
PAID ?ú200 PER MONTH FOR 3 YEARS PLUS EQUITY AND INTEREST OF ?ú4898 A TOTAL OF JUST OVER ?ú12000 CREDITORS ARE RECEIVING A DIVIDEND OF 0%.
WISH EVERYONE WELL IN THEIR ROAD TO A NORMAL LIFE AGAIN.

Hi Fiferover

I am really pleased that the matter has come to an end and as you say, you have the future to look forward to.

However to counter this I am extremely disappointed/sad/angry at the way you have been treated and especially at the level of fees and the curious 8% add on by Invocas.

Reading through even the most recent posts, I would implore people to insist the firm they are dealing with follows the law and the guidance which governs all IP firms. If you are in financial difficulty, request that the IP or a snr member of his staff holds a meeting with you to answer questions. Sign nothing at this meeting and then ask that a file memo is sent to you from the firm outlining EXACTLY how the Trust Deed will operate and assets etc will be dealt with. Once you have this, then make the decision.

The above is not a belts and braces approach, it is how we are meant to do the job.

Sorry if this sounds like a rant, but the vast vast majority of firms operate on this basis and personally we have no cases where people have any doubts or fears on how matters will be dealt with.

Saturday rant!

Mark