Hi there. Have you spoke to any TD expert on this forum ? If not I would go with one of them. Their experience & advice is amazing.

Hi and welcome to the forum,
There are certain criteria a trust deed should meet in order for it to be become protected, such as giving a minimum dividend of 10p in the £. Your proposal seems to meet some of the criteria, but without going through all your circumstances, it is difficult to advise you. I would need to see your financial statement, to see how the £145 was determined. Also, do you have any assets, and I presume from your figures that the trust deed is for 36 months? Don't be 'sold' anything- it should seem like a service, not a sales pitch. Don't rush into anything, and just make sure you have everything in writing before you sign anything.

hi,

Many thanks for your response Shona 🙂

I do not have any assets and yes it is for 36 month.

The thing is alot of the companpanies i have spoken with seem to be bringing down all their competition, saying this and that about each other and that i shouldnt trust these other companies as they have some bad practices etc. Im just in such a hole i dont know who to trust as it all seems like a bit of a 'playground'.

Its also very hard to find reviews for named companies in order for me to make my decision.

Is it normal for a firm to take around £3000 fee/charges and give so little to my creditors?

Hi, any company who tells you to be wary of another company should be given a wide berth. TD experts like Shona Maxwell would not put there self in these forums if they had something to hide & also would not slag off other companies. It wouldn't harm to speak to a TD expert from the forum. The fees/charges are always high. Hope this helps

Hi skintothebone

Kkboy is right. Anyone offering advice should discuss only your financial position and nothing else, but more importantly discuss all the options available.

I think advisers should provide you with options and let you decide in your own time without going down the sales route.

Mark

The fees seem to be in the right 'ballpark' and all the experts on this forum have their company fees for anyone to see. Shop around and be sure you're comfortable with the choice you make, definitely make sure things like houses, cars, overtime, bonuses, inheritances, job loss etc are all discussed before your decision.

Hi skintothebone.

The firms that are represented on this site (by Mark, Kevin, Chris and Shona) have told us that their typical fees for managing a trust deed will be £2500 to £4500 (there will be exceptions). On top of this there will be some costs of managing the case in addition to the time fees.

The fee you've been quoted seems to fit within this range.

Have a read around this forum. You'll find plenty of praise and criticism for certain firms that you may be considering using. The "search" function in the forum might be useful to do this.

Hi
It is always difficult to decide. The main thing is for you to feel comfortable with the firm you pick. It is not great to be 'running down' but there are some (which shall remain nameless) who you should keep clear off) If you stick to a firm who provides a service, such as all the firms on here, rather than a sales pitch, you should be fine.