Some Positive Perspective

Hi Folks. 

It’s my turn to take the plunge into the blogosphere and share my thoughts with you in my very first blog.  I’ll try to update this regularly with my thoughts on the burning issues relating to Scottish Trust Deeds and to debt issues in general.  Hopefully there might be some useful info and interesting titbits buried amongst my ramblings.

I thought I’d kick off by trying to bring a bit of perspective to the table, as I often worry that some of you who visit this site for whom a trust deed may be the perfect answer to your problems are actually put off by some of the horror stories that appear here.  Unfortunately there seem to be a few insolvency practitioners out there who are not living up to the standards that you would have a right to expect from them.  Of course, we regularly get to hear of these problems on this site, as it is perfect for those that have experienced problems with their trust deeds to get a second opinion from experts, so that they know what their rights and obligations are.  It always especially angers me when we hear from people that have been pushed into signing a trust deed that is obviously not appropriate for their situation and I am always only too happy to help by lending some of my expertise.

However, judging from my experience working in insolvency, I think the forum portrays a rather skewed picture.  The vast majority of trust deeds ARE appropriate and DO solve people’s problems very effectively.  I regularly meet people who are sick with the stress of trying to manage their debts and the constant calls and threats from creditors.  For years they have been robbing peter to pay paul, then robbing paul to pay peter and eventually working their way through the rest of the disciples until there is nowhere left to turn.  Often for these people, a protected trust deed is a lifeline, a light at the end of a long dark tunnel.  I know this because people tell me so – and quite often they don’t need to tell me as it is written all over their faces.

Which is why I enjoy my job so much.  Whenever I am asked what I do for a living and reply that I work in personal insolvency, the usual reaction I get is “that must be a grim job!” (well, currently that’s probably second to “I bet you’re busy at the moment!”).  Don’t get me wrong – of course I take my responsibilities to creditors very seriously, but meeting people and enabling them to get relief from their often crippling financial worries isn’t at all grim, it is actually very rewarding.

I hope that we do see more of the positive stories on the forum as the site grows in popularity.  A scottish trust deed is certainly not always the best option, and is by no means the only tool in the bag of a good money adviser.  But in those cases where it is a good solution and has brought much-needed relief to people from their debts, hopefully they will visit the forum more often and give us their perspective too.

Cheers

Kevin