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Scottish Trust Deed Forum
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Topic starter
17/02/2017 1:42 pm
Hi I am just looking for advice please, I started my trust deed 6 years ago, thinking it would only be 3 years to complete, i have now received a letter from my trust deed asking me to for a written proposal to release their interest in both my properties, ( i have a joint house in both my name and my partners and a house i own to which i rent out as it would not sell at the time of buying my new house,)they are looking for £7000 form the house I live in now and £2060 from the house I rent out, they are saying i can get the money from a third party, but cant get credit, my trust deed practitioners has changed twice during this time, and was told with the first one 3 years ago, that if i continue paying, this would cover the cost of the money in the properties, but i don't have anything in writing, i understand i am going on a bit, but really worries that I lose my home, and have negative equity in the house i rent out.
17/02/2017 1:53 pm
I would ask them to provide you with a copy of the initial paperwork showing what was agreed in the first place, baz71. Do the figures they mention make sense to you in terms of what you expected to have to pay?
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
17/02/2017 2:03 pm
Hi Kevin, yes the figures look about right, but was under the impression that the money owed was being paid off hence the 6 years trust deed, the fee or the practitioner to date is £6800. can I ask what the written proposal to release his interest from the properties is.
Thanks
18/02/2017 9:22 am
They are looking for an offer from you so that this can be put to an end, by the sound of it. Are you able to raise any funds to offer them? I dare say they might accept less than they have quoted if necessary.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
