I made my first payment when I signed the Paperwork in my house. This is before you trust deed is advertised in the Edinburgh Gazette and therefore before it became protected. As far as am aware this is standard practice but remember that this payment is your first instalment towards your 36 payments, some companies use your first payment as a fee then take another 36 payments after this.......

As long as your IP confirms the payment is 1st of the 36 payments, I doubt there's much to worry about......

Good luck....

Hello sol300585 and welcome to the forum.

It's normal for the first payment to be made on or around the date of signing a Trust Deed so please don't worry about this side of things too much. To be on the safe side you may want to get everything confirmed in writing before you make the payment.

It does seem a little unusual that your payments would not commence until the Trust Deed is accepted and protected but I don't suppose that need concern you.

There is no need to spend your limited resources on a paid-for bank account such as the one you mention. See the following link for an alternative:
http://www.trust-deed.co.uk/forum/topic.asp?TOPIC_ID=369&SearchTerms=think+banking

Please also be aware of the potential pitfall of this linkage should you find yourself temporarily unable to make a trust deed payment. See the following thread:
http://www.trust-deed.co.uk/forum/topic.asp?TOPIC_ID=263&SearchTerms=think+banking

Hi,

thanks so much for the prompt reply from both of you. It certainly does reassure me now.

Thanks for the link re: think banking, I actually think their accounts are brilliant and has helped me budget so much better compared to the past. However the link draws up serious concerns and incidentally my old nationawide accout which never used to have a debit facility has just been upgraded so I am thinking about using this account once again.

My only other point is that the pack they have sent me is an "introduction pack", it outlines everything I have agreed to along with a form giving them authority to obtain my personal data. I just wondered if Wilson andrews are safe enough to use and if are they used frequently? I have also been speaking to kpmg but was warned off them by a friend who dealt with them because of their high fee's.

Hi sol300585,

Wilson Andrews are large and well known.
Towards the top middle of this page, on the forum options, there is a "search" function which you can use to find feedback about any firm that has been written on this forum previously by other visitors.
The internet in general will also contain reviews of their services.

We (in the site support team) don't tend to comment directly on trust deed firms other than the ones that we choose to feature on this site (those of Mark, Kevin and Julie who answer questions here).

We believe these featured companies to be good trust deed companies. We're also clear that there are many other good trust deed companies as well (which happen not to be featured here), and that there are also a few trust deed companies that seem to attract a lot of bad feedback.

Choosing the right company is extremely important. Three years is a long time. You are being very sensible to make investigations so that you feel confident you have made the right decision.

So long as you do not owe Nationwide any money I'm sure that old account might be useful for you to save money (versus a paid for account) and also to ensure that you have full control of your money if you go ahead with a Trust Deed.

Hi sol300585

could you confirm that you have met with someone from Wilson Andrews ( or Think Money) to discuss the Trust Deed and other options before signing.

Mark

I would agree with Mark that you should at least meet your IP face to face before agreeing anything. I almost signed a trust deed with a company I only spoke to over the phone but by doing some research and finding this site helped me find am IP I could met face to face, which allowed me to discuss all my options and get everything in writing before I signed my Trust Deed.....

It is absolutely imperative that you meet the IP or indeed a colleague of the IP. Whilst the common problem may be the same, each case must be treated on its on merits as every case has different circumstances. Only when you consider these points can the IP give you advice specific to your circumstances.

As much as can be, everything in relation to your trust deed should be agreed in writing before you sign your Trust Deed.

I hope you find the forum useful.