Also states that all extra monies have to be put to TD including 100% of any bonus received. I've noticed on here that others pay 50%

The DD mandate has the figure on it, and for the length of term it states until further notice. It's supposed to be 36 months

Am sure a phone call to RSM Tenon in the morning will help settle the nerves, they should talk you through any issues and hopefully get them put in writing......

Am sure Kevin on here will help you out as he works for RSM Tenon...

Finally from my point of view getting a PTD was the best thing I could do to deal with my debt, not looked back since I signed it almost a year ago.......

I still occasionally look at my documents with a bit of fear. It can be a bit annoying that any bonuses you get go 100% to your trustee but as long as you tell them, they may let you keep something. I think it's just that under the conditions of the trust deed, the trustee is entitled to take 100%. You'll scrape by for the next 3 years but you'll be soooo surprised about how quickly it goes. I've got 9 payments to make and then a bit of time till the discharge comes through but if I hadn't have done it, I would have went bankrupt. Like porcupine, I haven't looked back since I signed. If I have £10 left in my account at the end of the month, I'm so happy.

Hi saabrina.

We think highly of RSM Tenon, but you still shouldn't sign until you are happy with everything.

I suggest calling the team there to discuss your concerns tomorrow.

I've read the documents properly now, and not as scary as I first thought, however I still have concerns.

With regards to my car, obviously concerned at the difference between £1K and £3K, but the wording of the TD states that I am "being given permission to continue to use the car", under certain conditions, which can be revoked at any time. Does that mean I will no longer own my car, very gray area.

Also, quite a large section which is a declaration for me to sign stating that certain things have been explained to me in full by the Trustee and that I have received certain statutory documents, and have been fully advised on all options. If I sign this, then it's a complete lie, no advice given whatsoever.

Thanks Gillian and Porcupine for your comments.

Really wish I lived more centrally so that I could have had a home visit and be able to go over all this face to face.

Even though you can't have a face to face with your trustee, you can certainly phone up and have a pretty long telephone interview with them. Before hand, go through your agreement and write down any questions. Phone them up, ask them and take notes of what they say and then verify you are correct in your understanding. At least that way you shouldn't be in for any surprises in the next three year and you'll be able to sign knowing that you've cleared up anything that you were unsure about.

Hi Saabrina

I'm very happy to help with this and to ensure that everything is explained/resolved to your satisfaction. Presumably you have been dealing with someone in our Glasgow office? Please do feel free to get in touch with me via the link on this forum if you wish and we can arrange to have a chat before you go any further.

I understand what you mean about the trust deed papers, they do look quite scary and legalistic. Please be assured this is standard, I'm afraid it has to be this way as it is a legal contract. However, please do not hesitate to seek clarification on anything you aren't sure about - or even seek legal advice if you prefer.

Which part of the documents refers to the value of the vehicle and your bonuses? Is this an accompanying letter? Certainly the figure should be £3000 for the car, so my guess is that whoever prepared the letter was using an old template by mistake - this will need to be changed and reissued to you.

In terms of bonuses, we usually do split this 50:50, though it can depend on the circumstances. If it is a performance-related payment then it would be 50% as there has to be some incentive for you to try and earn a bonus, however some other types of bonuses/windfalls may require to be paid across in full.

Until further notice is often put on the standing order in case there is a gap in payments at any point during the trust deed in which case the payments may have to be extended. Of course, the mandate is cancelled once the 36 payments have been made. If it makes you feel more comfortable then you can simply amend this insert the anticipated date of the last payment.

It is unusual for there not to be a home visit before this stage and usually all such matters would be explained and discussed at the meeting. In your particular case it seems that we have not sufficiently compensated for the lack of a home visit by ensuring that everything is fully understood and discussed with you by telephone, for which I apologise and look forward to rectifying.