Hi funscots

I think there was an earlier post on the company. Unfortunately I have had no dealings with them, but as far as I am aware they are not licenced Insolvency Practitioners and will probably pass you to a practitioner

I think you are correct in what you say. Best advice is to have an initial meeting and then have something put in writing from The Insolvency Practitioner outlining exactly the position and how the Trust Deed will be dealt with, especially assets ie house, car etc. This way at least you have something to fall back on.

As I have said in countless posts 'Get it in writing' before you sign anything.

Mark

Hello funscots,

Reading through the pages of this forum there are many examples of people who have experienced significant diffculties because they did not understand (or were not properly explained) the exact nature of the very significant commitment that they were making.

Choose a firm to help you that can fully and clearly explain the commitment that you are making (including the disdvantages - good firms go through this; sales operations sometimes bypass it).

If you're not sure what will happen next I don't feel that you are in a position to sign yet.

Mackenzie Stewart are the company through which my TD was set up - they then passed me onto the IP (AG Taggart).

Mackenzie Stewart were very helpful and supportive throughout the process of setting up the TD, but I have since realised that I'd have been better off going directly to the IP myself. The main reason being that I paid Mackenzie Stewart a fee (equivalent to one month's contribution), which I could have avoided had I cut out the middle-man.

Unfortunately I didn't realise any of this at the time. I wish I had known about this forum prior to entering into my TD - it could have saved me a fair bit of stress, not to mention money.

You live and learn however.

Hi imcville,

Thank you for sharing that; you make a really good point.

There simply isn't any need to pay upfront fees when looking to set up a Scottish Trust Deed.

The Trust Deed firms that are featured on this site, and many other good firms, will not charge upfront fees.

Hi funscots

I also used MacKenzie Stewart to set up my trust deed, when you go for the interview/sign the trust deed you will be passed to the IP who is AG Taggart, they are in the same office or work out of there on arranged days.

Mackenzie Stewart were very helpfull and will talk you through the whole process, as Mark say get everything in writing before you sign or at least agree to get things signed i.e equity in your home etc.

When I got my trust deed back I noticed that there was a charge for the work Mackenzie Stewart had done ?ú800, the fees were an issue when it came to my trust deed becoming protected as I had some objections, my IP fees were quite high as well but they agreed to reduce them so everything worked out ok at the end.

toomuchdebt