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GemmaGG Posted - 22 June 2022 : 18:59:25
Hi there, Iíve been successful in my application to apply for a trust deed with J&R financial solutions. Before I officially sign the paperwork I wondered if anyone else has had a trust deed with them and are they any good?

I checked all their comments on their tiktok videos and everyone is very complementary of them and my case worker Dylan Dooley especially and they do say that they are the best advice company in the UK. As theyíre government funded, this makes me feel more confident itís a safe choice.

Any feedback. Thanks in advance xx
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weedannii Posted - 29 July 2022 : 18:28:43
hiya i just did a trusted deed with jr debt solutions too but they entered me and im now in a company called j3 in glasgow signed up are you sayin its that same the tiktok people that i spoke to because i didnt get any shady vibes from them at all from dylen fought he was a wee star

dannii xx
tigh Posted - 24 June 2022 : 23:56:44
Hi GemmaGG
We did a full administration bankruptcy in 2019, and we renewed our Mobile phone contracts in 2020, we stayed with the same provider, but we did renew the contract for another 24 months without any issues, so it's not impossible.
Please seek advise from the experts on this forum, even contacting them individually, and see what they recommend before signing any paperwork with anyone else and making your decision.
TDA (Debt Adviser) Posted - 24 June 2022 : 15:03:38
I'm saying this in very general terms, rather than about any particular firm, but if any reader of this thread is ever told by a firm that it's company policy never to advise someone towards MAP bankruptcy or a Debt Relief Order then they should run away as far and as fast as they can.

Likewise with any firm telling someone that a particular debt solution will permanently scar their ability to get credit.

Getting advice only from FCA authorised debt advice providers is the simplest way to avoid such utter nonsense (and other similar nonsense).
GemmaGG Posted - 24 June 2022 : 13:57:55
Hi Kevin, thanks for reading by question and replying.

Rob at J3 Scottish solutions said my credit rating would be impacted for 6 years but they donít do the maps so I would have to go to my local Citizen advice office.

Iím struggling for an appointment there and I saw the J&R financial ads on TikTok and was blown away by the positive comments from people.

Dylan at JR was really nice to me and he sounds like he knows what heís talking about and it was him who told me about bankruptcy permanently scarring my credit and itíd stop me from getting a new mobile contract and mortgage. He said it was their company policy to always advice against maps bankruptcies and some debt order if you live in England. Contradicting what Rob told me but Dylan did say they were a small highly trained team who are experts in debt solutions for normal people and that J3 solutions were a large corporation more experienced in helping businesses with debt.

If I do the maps from citizens advice would they assess this on my own income as I donít want to include my partner if I can avoid that?
Kevin Mapstone Posted - 24 June 2022 : 12:24:40
Bankruptcy isn't for everyone and I can understand you being cautious, however you seem to have the wrong impression as to what the consequences are. It absolutely shouldn't mean that you can never get a mortgage or a mobile phone contract - who was it told you that?

Whether you go down the MAP bankruptcy route or the Trust Deed route, your credit rating is affected in a similar way. However it isn't terminal and both will only show for 6 years.
GemmaGG Posted - 23 June 2022 : 15:29:41
Itís £107pm over 4 years for £8000 debt

I agreed with Dylan that my boyfriend would help me pay some of it and I can pick up more hours later in the year.

I didnít like the idea of bankruptcy as Iím too young to ruin the rest of my life, j3 Scottish debt help weíre good with me and explained itís not as bad as it sounds. Never getting a mortgage or being able to get a mobile phone contract is too extreme for me.
TDA (Debt Adviser) Posted - 23 June 2022 : 14:16:55
Hi GemmaGG,

Why is it that you feel a trust deed is a better for for you than MAP bankruptcy?

How much is it being suggested that you pay into your trust deed each month?

How long is your trust deed due to run for?
Nicci_36 Posted - 23 June 2022 : 13:08:28
It didnít affect my trust deed in anyway as I say I only spoke to J&R once sent all paperwork & then did an income & expenditure & then I got a verification call from carrington dean to go through income & expenditure again & since then Iíve dealt with them. Never spoke to J&R again. Is your paperwork from carrington dean by any chance?

GemmaGG Posted - 23 June 2022 : 12:59:44
Carrington Dean sounds familiar yes, thank you for confirming.

If they are middlemen would this affect my trust deed in any way, quite worried about this as I spoke to J3 Scottish debt help too and they said that I would be better off doing map bankruptcy which I disagree with and Dylan assured me the trust deed is better for me.
Nicci_36 Posted - 23 June 2022 : 12:41:01
I actually went through J&R but they referred me to carrington dean who my trust deed is actually with.

It would appear J&R are like a middle man.

I only spoke to J&R once who did an income & expenditure then I got a call from carrington dean who handled everything from there on.

To be honest I got really confused with it all but have had no issues dealing with carrington dean & my trust deed became protected at the end of May

Hope this info helps
TDA (Debt Adviser) Posted - 23 June 2022 : 09:50:37
Hi GemmaGG and welcome to the forum.

I'm not aware of any private companies operating in the trust deed market that are government funded.

I'm also not aware of any genuine evidence that any firm in the market could use to claim they're the best advice firm in the UK. Any such claim by any firm shouldn't be taken seriously.

The firm you name appears to have had FCA permission to lawfully provide debt advice until 26th April. It doesn't appear to have that permission currently.

There are firms that legitimately introduce people to trust deed providers, but without providing full debt advice (because they cannot legally do so). This is usually done in return for a payment from the actual trust deed provider.

There are also insolvency practitioner firms that aren't registered with the FCA. They can provide advice about personal insolvency, but they cannot lawfully provide people with full debt advice.

Out of curiosity, is the trust deed paperwork you have provided by the firm you name, or by another firm that they have introduced you to?

Our advice to anyone considering any type of debt solution is not to do anything at all until they have received full debt advice from an FCA authorised organisation.

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