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Your Trust Deed Expert
When looking for your trust deed expert, note that experience in insolvency can be vitally important.
It is wise to choose a Trustee with the experience of administering as many previous cases as possible.
Even if newly qualified, your debt expert will most likely have shadowed a more experienced insolvency practitioner within an established company but as each debt case is different, the most experienced IPs will have seen as many objections are there might possible be.
When choosing your Trust Deed expert, it may help to ensure that you choose a reputable Trustee but for many people without the experience and knowledge of the insolvency market, this may seem harder than it first seems.
Any company who you choose for a PTD should take you through the pros and cons of doing a PTD and the decision to proceed should be yours and yours alone. If you feel like you are being sold a Trust Deed then this may help you to decide if your debt expert is an appropriate choice.
Being in financial difficulties can be stressful and when looking to proceed with a PTD, you will no doubt hope that your debt expert will be there for you every step of the way and should you have any contact from creditors or threatening letters - a company with the experience of dealing with many people in a similar position will arguably provide a better overall experience you.
The Scottish Government’s authoritative body, The AiB (Account in Bankruptcy) are charged with overseeing the legislation behind trust deeds and periodically make changes to the legislation in order to improve it for both the individual and creditor.
A recent contentious aspect is that of equity release and the AiB are set to improve the process in 2012 to ensure that amongst other things, there is more transparency where equity in a property is concerned. Some IPs will charge a fee to protect equity where as some will not. Again, this is down to an individual to decide if this is another important factor to consider.
While in the process of applying for the trust deed, always get any issues that you concerned with agreed in writing. Your debt expert should be happy to oblige this request.
As a leading introducer of PTDs, Trust Deed Scotland as seen on STV only offer ethical debt advice and if you would like to discuss your own likely eligibility, you can complete the TrustDeedWizard opposite or call us in confidence on 0141 221 0999.
