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Scottish Trust Deed Forum
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Topic starter
09/10/2010 5:20 pm
Hi and I hope you can all help because this is causing a nightmare and I really wish I never took out a trust deed.
I have to put in my 6 month review and my trustee is looking for wage slips which is not a problem but they are also looking for bank account details and account balance, can my trustee rightfully go into my bank details and check what I have in my account,I am not sure why they need to check into my bank account, can they do this and why would they need to do this, please help.
09/10/2010 6:22 pm
Hi sam21
the answer is yes. If required, the Trustee can request from you or the bank, copy statements.
I assume this is to check for any other monies you may have or other potential assets.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
09/10/2010 8:22 pm
Thankyou Mark,
The reason I asked this is when I had the initial meeting I mentioned that I could have bonuses ranging from ?ú500.00 to ?ú5,000 and he said not to worry and I would not need to declare them "within reason" when I asked what is within reason he said don't worry about it, but I mentioned that next year I may have a bonus of a minimum of ?ú15,000 that he said "I think you should tell us then" which I would have to be honest, but now I have had a bonus of ?ú2,000 and kept it for a holiday which I have spent. I have looked through all my documents and there is absolutely nothing there to say about minimum windfalls, I am worried that I may lose my house over this now or even be put in prison, my trustee has not informed me correctly about this, where the heck do I stand on this? Sorry for the long story but my wife and I are worried. Will it just be a case of extending the trust deed or have I commited a criminal offense? Thankyou.
09/10/2010 10:41 pm
Hi Sam
it kinda goes back to me always saying 'Get it in writing'
The advice from what you say is a bit vague and not what I would expect from an IP. That said, the house & bonus are completely seperate, so don't worry on that front. Worst scenario they will look for more money so slightly extend the period. Anything else, please let us know and I'm sure we can advice.
Trust me, it always seems worse than it is.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
10/10/2010 8:33 am
Many Thanks Mark,
I will certainly let you know the outcome, would you recommend me speaking to my trustee regarding this or just fill in my review (with the bonus added) and see what transpires. Thanks again.
10/10/2010 9:51 am
Hi sam21
probably best to fill in the form and attach any requested paperwork ( wage slip, bank statements etc)
let me know how you get on
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
