Mis sold trust deed

ldon78

I was sold a trust deed in 2016 while on benefits. Over 4years I paid back over £4000. This ended  in 2020, is there anyway I can reclaim this as I was on benefits and don’t believe I should’ve been sold this in first place now I’ve heard it’s illegal while your on benefits. I also have bad mental health.
thanks

eskbanker

Not sure trust deeds are really 'sold' as such, but they shouldn't be set up for those whose only income is from benefits, as mentioned recently at https://www.bbc.co.uk/news/uk-scotland-65915609

In terms of what you can do now, it certainly won't be as simple as 'reclaiming' the money - most of it should have gone to your creditors anyway, but some companies have been taking too much of a slice along the way.  Perhaps worth contacting Citizens Advice or one of the other debt organisations mentioned:

https://www.citizensadvice.org.uk/scotland/debt-and-money/help-with-debt/what-options-are-there-for-dealing-with-debt/trust-deeds-in-scotland/

MorningcoffeeIV

Your first step is to put your complaint into your trustee.

It's not illegal to have a trust deed while receiving benefits, but you should not be offered one if benefits are your only income.

I'm not sure what you mean by the mental health reference. Is this something you discussed with your trustee?

eskbanker

MorningcoffeeIV said:

It's not illegal to have a trust deed while receiving benefits, but you should be offered one if benefits are your only income.

Did you miss out a 'not' there?

MorningcoffeeIV

eskbanker said:

MorningcoffeeIV said:

It's not illegal to have a trust deed while receiving benefits, but you should be offered one if benefits are your only income.

Did you miss out a 'not' there?

I did indeed.

But I've found it now and will insert it...