Trust Deed - Help Please?

Jc1

Hi All,

I’m currently in a Trust Deed and a bit concerned.

I’ve been in the TD for just over two years and moved a few times within that period (renting) but always informed the TD of my change in address, However in the two years have only had one request from them for a current status report and recently e-mailed them twice checking they have the correct details for me etc… NO response. I’ve also in the two years missed one payment again with NO response.

My girlfriend is also in a TD and has had a request for a current status report which she provided and has heard nothing back in months!

I will phone them when I get the chance to find out what’s happening but am interested in a second opinion before doing so.

The thing is :-

Will it go against me only doing one current status report so far? It’s all I’ve been asked for but they said I would need to do one every 6 month when I sighed up to it. Surely they can’t hold that against me?

What happens about the missed payment? A month added on to my discharge date?

Are there any catches with TD’s – Is that really it after 3 years? Always thought it sounded a bit to good to be true but I had no other option.

Sorry for all the questions.

Cheers.

GeorgeUK

Never dealt with trust deeds personally, but this link seems to have quite a bit of info on it.

http://www.insolvencyhelpline.co.uk/paye-employed/trust-deeds-scotland.htm

From what i have read, as long as you comply with what the trustee wants, they won't petition you for sequestration. As you haven't heard from them, i would say they are happy enough with the way things are proceeding.

Homework

You need to contact the trust deed company.

Phone them. They will be in the office during working hours, have they perhaps changed their email address?

It is part of your trust deed to complete a current status report, if you don't comply with the rules of the trust deed they can fail it and potentially make you bankrupt. It really wouldn't matter if you said they had not answered your email.

Phone them and ask for how you are doing and give them the chance to tell you everything is ok and make sure for yourself that it is all going to be fine.

As long as your trust deed provider can sign everything off to say you have complied with everything you were supposed to do then you can start again afresh but you don't want any nasty surprises popping up before that happens. They will either accept that there is a payment missing or request the missing payment to complete, you need to talk to them.

Form more information on trust deeds the email for the Accountant in Bankruptcy is www.aib.gov.uk