Anyone in a Protected Trust Deed went Bankrupt??

m4ndd

Hi

Well CoolCait i took your advice. Sent a stinker of a letter of between Xmas and New Year to my Trustee. Asked them why they were choosing to take no action when i have told them i plan to continue non compliance in the trust deed. Told them i want them to do either petition for my BR as i have broken the terms, or end the TD early to allow the creditors to take action individually as the protected status i am in will be gone.

No answer as of yet! Sending a reminder on Monday.

In the meantime arrears letters coming thick and fast now. Halifax 'very concerned' that no payments been received for mortgage. Missed 2 months worth. Got a default notice yesterday from GE Money. This is from 3 missed payments totalling £270!! Total debt on that car loan is £2600. Very quick action for a relatively small amount of money.

Am i right in saying if i can get my Trustee to end the TD, i am now in a position to go for BR as i have a default notice? I think i remember reading that you don't go to the courts to make a court date for BR in Scotland but you apply to the Accountant in Bankruptcy.
Is that corect or am i getting muddled up??

Thanks

Amanda

sscott5581

Hi

I orginally entered into a TD and stopped paying. Uaing a default notice from one of my creditors I applied for my own bankruptcy, the cost is now £100 to apply.

My trustee wasn't happy but nothing he could do. The funds paid to the date I stopped paying were divided between my creditors.

The application link http://www.aib.gov.uk/MainNav/Services/Legislation/accesstobankruptcy/Debtorsapplication/apply

Good luck
Steven

m4ndd

Hi Steven,

Thanks for your reply.

Was your Trust Deed protected? I was told by the Accountant in Bankruptcy helpline that i couldn't apply for my own BR as i was in a protected trust deed.

Amanda

sscott5581

Hi

It was protected and I was able to proceed with no problems, didn't mention trust deed when I went to court with my fee. Had Egg default notice and court was happy with that.

m4ndd

Brilliant, thanks. Sorry to ask a million questions but hard to find someone in Scotland on this board that has been through it.

I assume then you knew exactly what creditors were in your trust deed and listed all them and the amounts owing but just didn't say you had a trust deed?

My default notice is only for £2600 but i have a huge secured loan and my mortgage who will start taking action against me soon. Does it matter who the default notice is from..i.e one of my smallest debts?

Also, when i fill in the form from that hyperlink, what next? Do you apply to your local court in Scotland and take that form with your fee?

Thanks again

Amanda

sscott5581

m4ndd wrote: »

Brilliant, thanks. Sorry to ask a million questions but hard to find someone in Scotland on this board that has been through it.

I assume then you knew exactly what creditors were in your trust deed and listed all them and the amounts owing but just didn't say you had a trust deed?

My default notice is only for £2600 but i have a huge secured loan and my mortgage who will start taking action against me soon. Does it matter who the default notice is from..i.e one of my smallest debts?

Also, when i fill in the form from that hyperlink, what next? Do you apply to your local court in Scotland and take that form with your fee?

Thanks again

Amanda

Hi Amanda

The following link explains in detail about bankruptcy and will answer all your quetions.

http://www.aib.gov.uk/guidance/publications/debtbankruptcy/bankruptcypostapril08/poyo

Print the forms from previous link and complete them. A default notice for £2600 will be fine.

I cant remember if I contacted the court to make an appointment or just went down with my forms, its was 2003 I went Bankrupt.

And yes didm't mention TD.

Good luck
Steven

coolcait

Just a quick response for now.

A default notice from a creditor won't be enough to show that you are apparently insolvent. It would have to be a Charge for Payment or Statutory Demand - issued following court action and served by Sheriff Officers. If you have one of these, it will say 'Charge for Payment' or 'Statutory Demand' at the top.

If you apply for bankruptcy with only a default notice, your application is likely to be rejected, and you will lose your £100 fee.

The application form asks if you are in a Protected Trust Deed. If you choose not to answer that question honestly, please take note of what the form says about the implications of this.

Bankruptcy applications are now dealt with by the Accountant in Bankruptcy, who are responsible for keeping the Register of Insolvencies - which records PTDs as well as bankruptcies/sequestrations.

If the AiB check the Register of Insolvencies, and find out that you are still in a Trust Deed, I'd imagine they'd reject your application, and you'd lose your fee.

m4ndd

Thanks Cait.

As i thought, i need out the Trust Deed.

Sent a letter to the manager of my Trustee yesterday. 4 weeks since i wrote to them with all my questions as per your previous posts and they have ignored it.

Also, on subject of Sheriff Officers, how can i personally be served notices by them if i have moved into rented? Do they have the capacity to trace my new address. Registered it with Council Tax, BT and utility company. No one else.

Thanks

Amanda

coolcait

m4ndd wrote: »

Thanks Cait.

As i thought, i need out the Trust Deed.

Sent a letter to the manager of my Trustee yesterday. 4 weeks since i wrote to them with all my questions as per your previous posts and they have ignored it.

Also, on subject of Sheriff Officers, how can i personally be served notices by them if i have moved into rented? Do they have the capacity to trace my new address. Registered it with Council Tax, BT and utility company. No one else.

Thanks

Amanda

Hiya Amanda

I'm sorry (but not overly surprised :rolleyes: ) to hear that your trustee hasn't responded to you yet.

Mind you, in fairness to the trustee (there's another phrase I never thought I'd write :rotfl: :rotfl: ) most IPs close their offices for the whole of the Christmas and New Year period. So they might not have been back in their offices until 5 Jan. If they're catching up on a backlog of letters from the holiday period, it might take them a couple of weeks to deal with your letter - especially when it's not going to be a straightforward reply for them .

Even so, I think you could reasonably expect to have a reply by the beginning of next week at the latest. If it's a reply which leads to 'Round Two' (which is probably more likely than total capitulation at this stage), then a lot will depend on what your trustee says in her reply. But I'd expect Round Two from your side to include a further request for the trustee to put the situation to creditors, for their views, and an offer to write to the creditors yourself if needs be

As for the creditors who are writing to you, I'd suggest you write back, informing them that you are in a PTD, and advising them to write to your trustee, who should be their first point of contact [looks innocent]. In my view, if the trustee is not going to address the fact that you cannot now meet the terms of the trust deed, then she can d@mn well keep acting as your trustee, and deal with your creditors!

I think Sheriff Officers do have ways to trace you even if you have moved home. But if you've been receiving letters from creditors at your new address, you probably don't need to worry too much about not being traced.

In all honesty however, I think the PTD issue needs to be sorted out first. While you're in a PTD you're supposed to be protected from court action by your creditors. So even if one of them did get a charge for payment against you, would it be valid? (I don't know - but it's a question that's worth asking, maybe to CAB?).

The exception would be if you have a debt from after you signed the trust deed. That creditor could take court action against you, and get a charge for payment. An example - and probably the most likely scenario - would be if you weren't paying your ongoing council tax, for the period after the trust deed was signed. Again, it's something that you might want to run past a debt adviser in CAB, or local authority money advice team, etc.

Good luck with it all, and try to keep strong!