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Can I change my Trustee during a Trust Deed arrangement if I am unhappy with them?

A Trust Deed typically runs for around four years, and the insolvency practitioner appointed to deal with its administration is a pivotal figure during this time. They make the decision as to whether or not you have met your obligations under the Trust Deed.

They can also intervene on your behalf if your circumstances change for the worse, and have overall control of when you are discharged.

With such close involvement in your personal financial situation, it’s possible that you could become unhappy with their actions at some point. So what happens if you’re dissatisfied with your Trustee, and do you have any recourse for complaint?

There are in fact three ways to make a complaint – the first is to the Trustee themselves.

Contact your Trustee initially

You should talk to your Trustee in the first instance, to see if the problem can be resolved. It may just be a misunderstanding or miscommunication of their purpose for taking the specific action that is causing a problem.

It’s also a good idea to set out the issues to the Trustee in writing, confirming the reasons why you disagree with their actions. In the event that they don’t respond, or you remain unhappy with them, you can make a formal complaint to their governing body.

Regulatory industry body

All licensed IPs must be aligned with a professional regulatory body that oversees the conduct of its members. Your Trustee will provide you with these details if requested, but they should also be displayed on their professional letterhead.

If the issue isn’t resolved to your satisfaction, you can then raise the matter with the Accountant in Bankruptcy.

Accountant in Bankruptcy (AiB)

The Accountant in Bankruptcy is a Scottish government agency that supervises and audits Protected Trust Deeds. They are the final recourse for making a complaint against your Trustee.

The AiB will investigate any complaints, but only if your Trustee or their professional body have already been approached about the issue. The AiB has the power to instruct your Trustee to amend their actions if it is felt they have acted improperly.

Scotland Debt Solutions can offer professional advice if you are unhappy with a situation regarding your Trust Deed. We have vast experience in this area, and work from four offices around Scotland. Call one of the team for an initial appointment free-of-charge.

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