You might be in debt, but you’re still a customer.
You have a choice about who provides debt advice to you. You choose which debt advice you can trust. It’s your choice which trust deed provider to use.
Please read through this page to see why your choices now are so important.
Why People Pick The Wrong Firm
We know that people often take a long time before they decide to tackle their debts. The average time taken to first get advice, from the initial realisation of financial difficulty, is around nine months according to published research.
This is often a really stressful period. Sleeping problems, relationship turbulence, and constant worry affect many people. A “trigger event” often prompts people to finally get help. Examples of such triggers include an unpleasant debt collection phone call, a legal threat, deteriorating mental wellness, or a financial emergency which appears to be unresolvable.
At this point in time, people naturally just want their financial problems to be fixed. They want someone to take their money problems away. Smart people become vulnerable to grabbing the first helping-hand that’s offered to them. This can create major problems further down the track.
Like all other areas of professional life, there are great debt advisors and bad debt advisors. There are honest debt advisers (doing their best for you) and commission-hungry salespeople (who get paid for pushing you towards a certain debt solution).
Accept the wrong helping-hand and you’re at risk of receiving bad advice, suffering financial loss, and experiencing rubbish customer service over a four year Scottish trust deed period. Four years is a long time.
Many of these problems start with cold-calling. We’ve read about this in our forum repeatedly since 2008. People get called out of the blue, they’re offered a magic solution to their concerns, and they quickly choose to go with it. This is a very common theme when people write about how their trust deeds have gone wrong a year or two later.
One issue is that cold-callers often aren’t properly trained. They’re generally not regulated. Many will not even be handling your trust deed; they’re going to sell your details on to another firm that does that.
With cold-callers you’re at serious risk of getting bad advice, having no redress against the adviser when things go wrong, and your trust deed being managed by a firm that you otherwise wouldn’t have chosen.
Customer Service Is Vital
If you are satisfied that you have received the right debt advice, and that a Scottish trust deed is the right debt solution, you now have a choice about which firm to use. You don’t have to use the first firm you contacted. We strongly recommend you don’t use any firm that first contacted you.
The evidence from our Trust Deed Advice Forum is that there are widely varying levels of professionalism and basic respect for customers within the Scottish insolvency industry. Some firms get regular praise from our website’s visitors. Others are criticised often.
Choosing a provider for your protected trust deed is a really big decision. You are handing over control of your assets and your financial affairs for four years or longer. You might want help urgently, but don’t act until you’re sure you’ve found a firm that you truly feel positive about.
A trust deed isn’t a product like a TV or a car. It’s an extended relationship. Different firms clearly treat their customers with varying levels of respect and courtesy.
Some Signs That You’ve Found The Right Provider
Here’s some possible factors that might help to reassure you about your choice:
Recommendations are a good starting point. Do you know someone who has used a protected trust deed and who recommends their own provider? Has a professional that you trust directed you to a particular firm? If not, our Recommended Firms
page might help. We’ve chosen to partner with Scottish trust deed firms who have good reputations, where we know the senior employees, and where we have interviewed staff to fully understand their procedures. We have also visited their premises to see them work, and we’ve listened to the feedback from our website’s visitors that have used them.
People are very important as well. Are you getting advice from someone sufficiently senior to be able to properly answer all of your questions? Have you checked your adviser’s qualifications? Are you dealing with a professional or a call-centre employee trying to “sell” you something? We think we’re lucky to have great professional people like Kevin Mapstone
and David Tannock
(each represents a different trust deed firm) contributing to our website. They’re available to help you if you get in touch via their profile pages.
Have a range of different debt solutions been explained to you? If you’ve only been told about trust deeds you’re not getting the right advice. You’re getting a sales pitch. Professionals will tell you about every option so that you can make the right choice.
Do you understand how everything is going to work for the next four years? The best firms are going to lay everything out for you so that you fully understand what you’re committing to. If this hasn’t all been explained to you, it’s a warning sign.
The Best Trust Deed Firms
Who are the best trust deed companies in Scotland? Opinions on this will vary widely according to each customer’s personal experiences.
Almost every firm suggests that they’re one of the very best sources of trust deed advice via the messaging in their marketing. The reality however is that there simply is no useful league table of the top Scottish insolvency practitioner firms. Everyone measures quality in different ways.
We suggest that you focus more narrowly on finding the right firm for you. The factors we’ve highlighted above in this article might make this an easier process to follow. Take your time. Ask lots of questions. Consider speaking to more than one firm so that you can make an informed choice. Make sure you understand everything before you commit.
Above all, remember that you’re the customer!