Help - Protected Trust Deed

New_start_soon

I've spent the last couple of hours reading some of the fantastic advice thats been given out on this site and hoped that some of you may be able to help me.

I entered into a Protected Trust Deed 3 years ago past February and am still awaiting discharge. I keep chasing up my Trustee and his latest response is "that they are working towards finalising and that there are always items with creditors needed to be cleared in order to confirm dividends." can anyone explain this further? what sort of details do you think they require? I have a property which has yet to be valued and i've sent endowment policy statements. I was really hoping that it would all be cleared and settled by now - is it normal to drag on like this?

Another concern is that I get made redundant at the end of May and I saw the redundancy funds as being my opportunity for starting all over. I'm concerned now that the longer it drags on, my trustee may request that my severance payment be used in the final dividend calculation - does anyone have any experience or knowledge on this? I'm a single parent and hoped that by now i would have a clean slate and be able to start again.

All advice/help appreciated.

Debt_Free_Chick

Hi there.

I think there are only a few Scots on the Board so you may not find anyone who has had experience of this. However, have a read of this

http://www.nationaldebtline.co.uk/scotland_factsheets/factsheet_21.php3

and put a call in to the National Debtline, who should be able to help with your questions.

Sorry not to be more helpful - let us know how you get on as it may help others.

Joe_Bloggs

Hoots man and all that. It is apparent that the rights/laws/entitlements are and have always been different in Scotland and sometimes change in advance of the rest of us. A increasing divergence is surely to take place between those in Scotland and those who are not. It might be a good Idea to quote the region where you live in your signature. Somehow I don't think that the Scots are under-represented South of the border.
J_B.

day_tripper

You need to know how long your trust deed lasts, taking into account any missed payments etc. If it's 3 years and this has expired then you have every right to a settlement, I have been told that the process can take a couple of months once the 3 years is up. Personally I would be at the IP's office on a regular basis and would consider asking other IP's for their views off the record. Some Ip's will give you unbiased advice and possably a few pointers.

You could also contact the The institute of chartered accountants in Scotland and ask their advice which would be limited, but may give you concrete answers to your questions.