Scottish Trust Deed, Help please!

EvanA

I am in the five week period where a trust deed can be objected,

I am having trouble sleeping as I am worried it will be objected.

Does anyone have any experience of this, and how did they cope?

Has anyone had a trust deed objected?

I am struggling right now to sleep (only slept for 1 hour last night).

I know Trust Deeds are not looked upon in a good way on this forum - but rest assured this was my last resort.

Your words/support will be very welcome!

Regards

Evan

panicked_2

EvanA wrote: »

I am in the five week period where a trust deed can be objected,

I am having trouble sleeping as I am worried it will be objected.

Does anyone have any experience of this, and how did they cope?

Has anyone had a trust deed objected?

I am struggling right now to sleep (only slept for 1 hour last night).

I know Trust Deeds are not looked upon in a good way on this forum - but rest assured this was my last resort.

Your words/support will be very welcome!

Regards

Evan

Hello, I have just made my last payment but remember this worry during this time. You have to just go with it and take some reasssurance from the fact your IP will have a good idea which companies normally object. I called my IP about half way through and they told me there were no objections in at that time so it was reassuring. Throughout the three years you will discover various things you have to worry about, such as finance reassessments, mines were annually, which forced our payment to nearly double. We had thought it was a specific amount we paid over a fixed period but found out otherwise. Now at the end, we have found we have to wait another three months for the paperwork to be completed and at anytime during that period the IP could demand any any new assets we aquire, such as we need to buy a car to replace the one the IP sold but if we do the have the right to take it too. A trust deed is no easy option so good luck to you.

sparkovic

I entered into a Scottish Trust about 6 months ago re. debts of 8k - I have now been offered an early retirment package made up as follows :-

Retirement Lump Sum 40k
Yearly Pension 13k
Redundancy Payment 20k

Can anyone advise how this is likely to affect my trust deed.

Many Thanks

rockyroad_2

hi EvanA
I recently got a Trust Deed protected so I know how you are feeling. I was worried my Trust Deed wouldnt go through as I am not making huge contributions although I don't earn a lot. It got protected on November 5th and although I am still receiving some creditor phone calls I have explained the facts to them and it seems to result in them taking my number off their dials. The only time I have heard them not going through is with some companies if your credit is less than a year old but as my debts were all fairly recent then I'm not sure how this works. if you want to chat about it let me know this forum was a Godsend to me as debt worries is not something you can talk to just anyone in your daily life about.

glasgowchick

Hi, I have just spoken to my IP and my 5 weeks will end on 12th January 2010. I feel sick worrying about it as well.

According to the IP I should just wait and see, there are no guarantees however Lloyds TSB my main creditor are good to deal with according to them. I am just waiting on a barrage of telephone calls from creditors.

If you want to chat feel free to PM me.

Take Care

EvanA

Hi Glasgow Chick,

My big day is 26th December.

I have just had a call from my biggest creditor (Sainsburys/HBOS) and they were very threatening, saying if I didn't make a payment I would risk them just objecting the Trust Deed because I didn't co-operate.

Very scary, everyone thinks I am really looking forward to Christmas - but in reality its my Trust Deed.

Lets hope our deeds go through!

RockyRoad - thank you for your kind words, and I hope I can join you soon and feel like I have finally taken control of my debts.