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Scottish Trust Deed Forum
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Topic starter
15/02/2011 9:32 am
There seems to have been a few negative posts recently on matters concerning the finalisation of Trust Deeds and the position with cars, equity, contributions etc.
A Trust Deed will be finalised when the matters agreed at the start are completed, these are matters which I assume all parties agreed to.
It is important that the position on all of the above is fully explained and agreed before signing anything. Despite harping on continuously on the forum about not signing at first meetings, people inevitably do and then wonder what they just signed.
Personally there would need to be a lot of communication and agreement in all matters before I took on a Trust Deed. That way all parties are happy.
We have a team who deal specifically with case closures and on conclusion of payments etc, would expect these to be dealt with in a proper time frame and the dealings before it dealt with in a similar manner.
Trust Deeds are designed to ease a financial burden, it is a big step to take, but if done properly it can be the light at the end on a previously very dark tunnel.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
15/02/2011 9:57 am
Hi Mark.
I think you make some really good points. People must take the time to understand all aspects of the commitments that they're making before they go ahead and sign a trust deed.
As you've spoken about many times, the issues of how a house and car might be addressed at the end of a protected trust deed are of particular importance and should all be set out in writing from the start.
There is another side to this though. For every person who signs a trust deed who doesn't fully understand their commitments, there is also a trust deed provider that did not take the time to ensure that the person understood all of the commitments they were making.
I think that most trust deed companies do a really good job. We know this because there are many trust deed firms for whom no bad word as ever been written in this forum. There do however seem to be some people and compnaies in the industry who are only too happy to explain only the barest of details in order to prevent any risk of losing their "sale".
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
