Hi Celtic1888

It is always difficult to comment on other firms.

Best advice would be to consider a company where you've not paid up front fees to get there, they have held a meeting with you to explain the whole process and then send out a memo of that meeting confirming the options and the position regading contributions, cars, equity is fully detailed.

Mark

Hi celtic1888 and welcome to the forum.

Some of our visitors may have used Wilson Andrews and may wish to add their thoughts.

From my perspective I would just say that it is very important to choose a company that you have reason to trust will handle your case professionally and provide you with a good level of service. Three years is a long time.

Like other major decisions it can make sense to talk to a couple of different firms so that you can make a comparison.

Agree all comments

Might be worth having a look at the guidance provided in the blogs about appointments, equity, cooling off period - time to think over the process without hassle and confirmation of agreement in letter format. All of which are required under Regulations and SIP guidance, which all firms should adhere to.

The Accountant in Bankruptcy website has useful guidance on Trust Deeds, worth a read if you are wanting to clarify any matter outlined by an Insolvency Practice.

Perhaps one of the Firms highlighted on this site could add a link to the SIP Guidance and PTD Regulations 2008.

if not the Insolvency Practioners Association (SIPS) and Accountant in Bankruptcy webiste (PTD Regulations) would be a useful starting point for anyone wanting to check out the Regulations and Guidelines for Trust Deed

thxs for your help so far got a few other matters i have been sent forms for to apply for a trust deed also been asked to set up a direct debit and to start making payments they have asked for a sum but my trust deed has not started and i dont no what my payments are going to be when it has kicked in i have been told this is to start the trust deed any help on this

Hello celtic1888,

I'm surprised that a payment is being asked for before the detail of the Trust Deed monthly payment has been worked out.

How much is being asked for?

hi both me and my wife have been asked to pay ?ú200 each cant understand why we both have not signed anything dont no if we will be accepted and dont even no if we are just how much the trustdeed payments are going to be thxs

Hi celtic1888

This is certainly something to be worried about.

Before making any payment you should have had a meeting, discussed ALL options, agreed the contribution and had this confirmed in writing before signing anything.

My advice? Look elsewhere.

Mark

Totally agree with Mark's comments.

In the meantime find out who the firm is and attempt to find out if they are licensed and who by.

My reading of the thread is that the company concerned is Wilson Andrews who are clearly a properly authorised and regulated company.

celtic1888 is concerned about being asked for an upfront fee when he is not yet sure whether a Scottish Trust Deed is right for him or how it would work for him.

This seems to be a very fair concern.

There are many good Trust Deed companies, including the three featured by this website, who will provide those considering a Trust Deed with full information before ever asking them to put their hand in their pocket.

We don't feel that anyone considering any kind of debt solution should pay anything before they have been given all of the information that they need to make the right decision.

am due to meet my ip in 2 weeks to discuss a trust deed its now happened that am now going to miss payments to my debt what should i do now

Hi celtic1888,

If you have selected a firm that you want to use for a Trust Deed it will be best to follow their advice about what to do with debt repayments before the Trust Deed is signed.

Many companies encourage payments to be stopped, others suggest to pay what you can afford (if anything) towards the debts.

Obviously once payments stop lenders are likely to initiate their debt collection procedures.

This is a good reason to go direct to an Insolvency Practitioner as, when intermediaries who take payment upfront are involved, the period during which this collections activity takes place can be much longer than necessary. In some circumstances this can create an increased risk of legal action as well.

hi, i went with wilson andrews.....worst thing i ever done! they charged me and my partner ?ú150 upfront "to set up the trust deed" they have never held a meeting with us, everytime we phone them we get fobbed off and now a year down the line they are almost doubling our monthly contribution.

i am at my wits end with them! having a meeting with them next week (st my request) but if i dont get situations resolved, i am defo taking the matter to a higher body.

i know this post is v old, but i am writing this for the benefit of any other people who read this and are thinking of going with wilson andrews.

my advice.......dont!!!

My TD with Wilson Andrews has just become protected. Not having any experience with trust deeds other than the small amount of time that I have been in my TD, I am a little worried by what you say DM29.

I was under the impression that the only time that an IP could raise the amount of contributions to a TD was when your income increased due to a pay rise/bonus etc.

I chose to deal with my TD and sign the paperwork, etc without asking for a meeting with my IP.

Now that the TD has become protected, I would quite like a meeting with my IP just to clarify a few things. If I find myself getting fobbed off as you put it my Wilson Andrews then I will make it my sole purpose to contact them as often as need be until they agree to meet with me. If this is not achieved within a time period that I consider to be reasonable, then I will escalate the matter to a formal conmplaint against Wilson Andrews as I would not consider myself to be receiving an adequate service for the fees that I am being charged.

I can only recommend that you take similar action DM29 if this is how you feel.

Gresgow,

with regards to your point about the only time an IP could raise the amount of conts to a TD , i was also under this impression. Since joining the TD, my monthly income has actually decreased by around ?ú150. My partners has increased by ?ú300 a month but they are putting my payments up by ?ú130 a month and his up by just under ?ú130. I have no idea where they have got there figures from, hence the reason i have asked for s face to face meeting with them.

Everytime we gave phoned WA for advise, our case has been being dealt with by a different person (3 different people have dealt with it within the year we have been with them) and we are always told the person will call us back, but we're the ones who end up having to keep chasing them.

I have a 3 year old child and another baby on the way but they have told us a review will not be done until the new baby is born. This has left me wondering, and very worried, about where we will obtain funds to buy essentials for our new baby. Also my wages will drop considerably when i am on mat leave, wonder if they will take this into account when the time comes!

Also, we took out an unsecured loan with our mortgage company when we took out our mortgage and they told us to add that into the trust deed (which we did not want to do) The problem with this is, the loan is paid with our monthly mortgage DD and the DD was never decreased. We then recived a mortgage statement which showed we were still paying a monthly contribution to the unsecured loan, even though it shows on the paperwork we received from WA as part of our debt to be written off. when we confronted WA about this they said we were to contact our mortgage company about this as the mortgage company has made a claim to WA for settlement of the loan from them. I was really annoied at this as WA are taking a large fee from us and my understanding was that they should be dealing with all creditors, not me?

I honestly wish i had just approached my creditors on my own and sorted out a payment plan with them without involving WA.