trust deed help please!!!!

uniqueness

Hi really need some advice please!!! My partners trust deed has been running for around 5 and a half years, been passed to legal firm as he didn't keep up repayments due to one thing and another. Does anyone know what happens after 6 yrs? Law firm haven't been in touch for a few months even though there hasn't been any payments made. Any info or advice would be greatly appreciated. thanks.

Charco_2

Sorry Uniqueness, i saw this post (well, your other post) earlier and thought somebody might have come onto it with some help and advice... I'll ask around for some help and might be able to post something tomorrow - no promises though sorry!

uniqueness

Hi Charco thanks any info would be a help, too scared to call the law firm!

Charco_2

Well first i'd wonder why you weren't simply sequestrated when your TD failed?
The rules chaged in April 2008 but your TD should have been governed by the rules which stood prior to this. In the meantime if anyone comes looking for more money from you (I mean your solicitor), then ask him why you weren't sequestrated that's what your IP should have done instead of throwing you to the lions! Tell him you're now looking into your options in this area.

I am assuming the debts are (mostly) in your husbands name (since it was his Trust Deed) and you're saying the assets are in your name - make sure your hubby is not on the deeds of your house etc. Speak to your local CAB... or better yet your local MONEY ADVICE centre in your council area (they're the same thing except as you'd guess Money Advice would probably be a bit more clued on the finance bit that you're looking for).

Sorry the answers aren't great, but hopefully it's a starting point for you

Good luck!