Scottish Trust Deeds Help and Advice

beanielou

Hope it all goes well for you

haggisAThome

thank you and yes , i am pooing my self as the companies i owe the cash to don't know yet . payplan have assured me things will be ok and will get better , but i just get that sneaking feeling that they will start piling on the charges and keeping the interest going

coolcait

haggisAThome wrote: »

thank you and yes , i am pooing my self as the companies i owe the cash to don't know yet . payplan have assured me things will be ok and will get better , but i just get that sneaking feeling that they will start piling on the charges and keeping the interest going

Hiya haggis

Just a quick question, as my memory is going, and you might already have covered this point!

If you're opting for a DMP, did you also consider the Debt Arrangement Scheme? If you were accepted onto DAS, your creditors would have to stop the interest and charges - by law.

If you haven't heard of DAS, and it would be a serious option for you, then I'm disappointed that Payplan didn't mention it to you!

There's more info about it here:

www.moneyscotland.gov.uk

HTH

haggisAThome

ahh , no they never offerd a das . and looking at it , it would have been better for me

beanielou

Can I suggest you go back to Payplan & ask them about as DAS?

haggisAThome

i will dont worry , i will phone them tomorrow :beer:

Miss_Poohs

How did you get on with PP and the DAS?

My husband has been in his DAS a year, but it's crippling us, and the prospect of living like this for 12yrs has him thinking B/R is a better option.

haggisAThome

hi miss poohs

sorry i have had to format my pc and forgot to update you all .

i spoke to PP and they checked my assessment papers and i was not eligible for a DAS or BR , they said i had the options of a DMP or a TD . now i have got my budget sorta worked out i will be stuck with it for 6 and a half years and that is if they creditors don't hit me with charges and interest (i know they will) . but if they hit me with the big charges etc etc then i will just have to go down the route of a TD and then they can loose there chance of getting all there cash back .

its going to be a hard road ahead , but only my self and my family can get us down this road . what have you been having problems with miss poohs

coolcait

haggisAThome wrote: »

hi miss poohs

sorry i have had to format my pc and forgot to update you all .

i spoke to PP and they checked my assessment papers and i was not eligible for a DAS or BR , they said i had the options of a DMP or a TD . now i have got my budget sorta worked out i will be stuck with it for 6 and a half years and that is if they creditors don't hit me with charges and interest (i know they will) . but if they hit me with the big charges etc etc then i will just have to go down the route of a TD and then they can loose there chance of getting all there cash back .

its going to be a hard road ahead , but only my self and my family can get us down this road . what have you been having problems with miss poohs

Hiya again HaH

Good to see you back!

Did PayPlan say why you're not eligible for DAS? After all, if you're paying back your debt over 6 and a half years in a DMP, that sounds ideal for DAS. There's also the point that the final decision on who gets onto DAS is down to the DAS administrator anyway - and that's only if one of your creditors objects.

If you opt for DAS, your money adviser sends all the forms out to your creditors telling them the amount you're offering to pay each month. If all of your creditors accept (or don't reply within 21 days) then the DAS will get approved automatically.

It might be worth your while trying to have a chat with a local DAS approved money adviser to get their views (if you can). There's a list on the moneyscotland website I linked to a few posts back.

HTH

just_so_2

Hi,

This is a long story but Ill keep it short.

I entered a trust deed Jan 08. As part of the deal I agreed to release £15,000 equity from my house at the end of the 3 year term. I also make a monthly payment. Unfortunately my wife and I split 8 months into the trust deed. Without going into to much detail I told my trustees that I wanted to sell, I didnt want to stay there again. They asked me for the keys of the property and once the property was empty, they changed the locks. At this point I ceased paying the mortgage, although I tried to maintain it I needed to find a new apartment, and therefore stopped so I could pay for a new rental. After several calls from the mortgage company (I explained that I had handed the property over to trustees), the trustees spoke to the mortgage company and they obviously accepted that the IP were selling my property on their terms.

The property went up for sale 9 monts ago and in this economic climate I believe the trustees are asking too much for it (more than the agreed equity release). However it was my decision to leave and they are welcome to the equity they can get. In saying that I am concerned about the upkeep, maintenance and general appearance of the property. I saw the garden last week and the lawn is overgrown and apparantly there is something wrong with a drain. As they changed the locks forbidding me from entry I cannot perform any checks/maintenance or otherwise on the property. The estate agents who are marketing it tell me they cant speak to me about it.

Even more annoying is the fact I am paying council tax with a 50% discount plus full water & sewerage charges, as they deem me liable. I have agrued this with them for months and they insist that is the legislation. I would not have a problem with this if I was able to gain entry, but the fact that I cant even get in these charges are ridiculous.

As my gas/ electric meter is outside, I read them and electric usage is zero since I left. I also switched the gas off but yet there are quite a number of units used. I reported this to the gas people. However, say its a leak, and it gets worse and something happens, would all the crap of the day land on my head. What if someone has an accident with the loose drainpipe ?

I am going to speak to my trustees (who are always helpful but vague) about these issues but I really dont know where to start with regards to 'the law' with this empty property. I'm also ashamed at the state the front garden is, and a year or so ago we had mice in the loft. If theyre back they'll be having some party!

Has anyone had experience of a similar situation where the property has been taken over by the trustee??.

Thanks
JS