Advice on Scottish Trust Deed From The Year 2000, (Missed Payments)?

Attackthebanks

A friend of mine is unsure where they stand on the trust deed they had, and wonder if i could get some advice on their situation.

The total debt was approx £6000 made up from 3 creditors.
The agreement in the year 2000 was that they would pay £100 per month and be debt free in 3 years.
Only two monthly payments of £100 were made, then they went to work abroad.
They were still staying with parents at the time, and were told that the would end up bankrupt for point blank refusing to pay the deed.

As of 2012 present day they have never heard a word from the trust deed OR the company they put in place to set it up.
They have since moved and are in rented property, with small lines of credit in the form of an overdraft, credit card and catalogue.

I have said that as it's over 6 years the deed is probably not enforceable, but the national debt line could not confirm this, and said they would need to check with the company that set the deed up.
They are however reluctant to do so in case they are liable for it.

Would getting credit file even show this as it's been 12 years?

I think their main concern is that if they go for a car on finance or a personal loan, that this will flag they are now solvent.

What other things could they try, or pursue for peace of mind, or to make in roads to correct things?

Thanks in advance guys!

Attackthebanks

Anyone, this REALLY seems to have stumped the MSE forum team!?

Anondebtadvisor

Hi There

She could search the scottish insolvency register on http://roi.aib.gov.uk/roi/ to see if they are still on there.

Unless the Trust Deed company failed the trust deed in may still be current - i have seen trust deeds last for this period of time and longer.

If she has been abroad the Trustee could have applied for sequestration (bankrupty) and she would not necessarily know about it.

If she is not on the insolvency register i would say that is probably what has happened.