Hi Bee

The normal paperwork will be Trust deed document, statement of affairs, standing order mandate. We also have 2-3 other documents which are signed to comply with regulations. This will either be the Trustee or a member of his staff.

The Gazette is normally a week after signing and the circular a week after that. The protected period is 5 weeks from the ad.

The payment covers the costs on the ad, bonding etc etc, so it is not returned if the Trust deed fails to get protected, even though this is fairly unusual.

All in all it should take 10 mins or so. Nothing too scary, honest.

Mark

Hello Bee.

Firms seem to have different processes applicable to the signing. Most seem to organise a meeting with an employee or agent of suitable experience to be able to answer any questions that you might have. We hear that some firms post the paperwork to clients for signature unless the client would like a face to face meeting.

The person you meet may be able to tell you when the Edinburgh Gazette advertisement will be placed. It shouldn't take long for that to happen though.

There was a thread last year on the subject of the advertisement appearing on a Google search for a name. Most people didn't find that this happened, and a couple that did found that they were able to act to change the situation. You can read it at:

http://www.trust-deed.co.uk/forum/topic.asp?TOPIC_ID=657

I don't believe that the festive period makes any difference to the period until protection is achieved, though hopefully this can be confirmed by one of our experts.

In terms of any payments made prior to protection I'd imagine they'd remain there even if the trust deed did not become protected. You'd still be in a trust deed, albeit an unprotected one. This outcome is unlikely, and where it happens people often choose to become bankrupt (that isn't the only option though).

Hi Bee

TDA is correct in saying that the festive period makes no difference to the 5 week period, so no worries over that. The payment made before protection is , as already said, a cost for the admin already done on your case. It would normally be a representative for the trustee, but they should be experienced enough to anwer any questions you may have, and explain the documents you are signing, which are all very straight forward. I am sure you will be fine, but don't be scared to ask if you are unsure about anything.

Better to ask lots of questions than none at all, Bee. That's what we are here for after all!

Our notices have appeared in the Gazette which I've viewed (as can anyone if they get curious which is a worry.......) - it's quite scary seeing your name and address in black and white!

We're now getting a few letters and telephone calls and I've already started dreading the phone ringing. I've blocked a few numbers on my mobile as I have no intention of taking calls during the day when I'm at work.

Is it better to avoid the calls or to just answer them and explain the situation?

Hi pammy1969.

It might be worth trying to take some of these calls when you can at the moment.

Explain that you have signed the trust deed, that your affairs are now in the hands of your Trustee who has written to them with payment proposals, and that you have nothing further to say to them until after they have responded to your trust deed firm on the written proposals.

Some creditors may "get" this and then leave you alone. Some may continue to call, in which case you'll want to consider whether there is any point or purpose in speaking to them simply to tell them the same things again. At least you'll have given them the opportunity to stop wasting their time and money making pointless calls to you.

Hi Pammy1969

I would answer the phone when possible, and give them the details of your Trust Deed company, as it can sometime take a while for creditors to update their records. If they get a bit awkward about phoning your Trust Deed company, ask for a contact number and reference, and give it to your Trust Deed company, who can then contact the creditor again.

A good IP (like mine) was happy to deal with any subsequent calls and letters post PTD being in place - but most vanished after a week or so. i found English based finance houses still struggled to understand the concept of PTDs, some even asking if this was set up for me by the Citizen's Advice Bureau!