Hi jp73.

The OFT have made it perfectly clear that insolvency practitioner firms (which act as a Trustee in a trust deed) should hold a consumer credit licence and abide by the "debt management guidance" that they issue.

My understanding is that activities undertaken by a business that holds a consumer credit licence can be brought to the attention of the Financial Ombudsman once the internal complaints procedure at that firm has been exhausted.

In short, I think a mistake may have been made.

The IP will personally be a member of a professional body that regulates him/her. The details will be on the bottom of any letters you have from them normally (often it's ICAS). You can raise complaints with them as well if the internal complaints procedure of the firm in question has been exhausted.

Another member recently reported that they had raised an issue with the AIB (who oversee the trust deed process) but were informed that the matter might more appropriately be raised with the IP's regulatory body.

Thanks for the reply TDA.

My orginal trustee was a member of the IPA, the trustee I have now is a member of the ACCA. The problem I have is with the orginal trustee but he had restrictions put on his licence during 2008, gave up his licence in 2009 when his company went into liquidation. I raised a complaint with the IPA but because of the above and the fact they can not comment on induvidual cases I cant get anywhere with them. The AIB have no powers,etc because the TD was signed in 2004. I even tried the Insolvency Service who have limited powers in Scotland but again they cant look at it.

I dont have an issue with my current IP. He has the full weight of the various laws behind them - which he quote's to the full - but he will not accept what I have classed as a fair and just offer to bring the TD to an end, 2 years after the final payment was made. The last letter I recieved threatened me with sequestration and the forceable sale of the house.

I could try the ACCA but if as with the others they cant comment on induvidual cases and because the current IP is "acting in the best interest's of the creditor's" I dont see the point. I thought the Ombudsman would be a good call because of the "treated unfairly and lost out financially" statement.

Am I perhaps going about this in the wrong way or would waiting for court papers be the best option and let a Sherriff decide (not an option I would look forward to) ?

Hi jp73,

It's a dreadful situation and I now remember from your previous threads that you have been unfortunate in so many ways.

Given the gravity of the situation I'd suggest getting some legal advice if there is any way that you can.

The thing that occurs to me is that the professional indemnity policy held by the original IP at the time must cover activities during that period. If you allege and can prove incompetence and/or misconduct there might be a claim against the insurance there that could offset the losses you fear. Very much into an area where legal advice would be required though before making any decisions.