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Scottish Trust Deed Forum
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Topic starter
17/04/2013 8:17 am
My ex and I entered a Trust Deed at the same time a couple of years ago. Not long after it started she decided to leave the country to work abroad and stopped paying into her TD although she was earning substantially more than she was here. She has reached the end of her contract over there and has been offered a new one. She has also been offered a new job in England with a very good salary and is considering coming back.
Although she has been out of the country for 2 years, I have checked the Register of Insolvencies and she has not been discharged by her trustee.
Her debts are in the region of £40K.
What are the likely implications of her returning to this country? Will she be chased for her missing contributions plus more since she was earning a much larger salary?
When she left she said she was never coming back to this country (she's not originally from the UK) and I have advised her she's better off staying put as I envisage a whole heap of trouble for her. She struggled with her finances here but seems to think it won't be as bad this time if she comes back as she will be earning more. I have told her that all of her surplus income after living expenses, at the very least, will be due but she seems to think I'm wrong.
Can anyone advise?
Glad that's over with....
17/04/2013 8:35 am
Hi upstream, thanks for visiting the forum.
The tools available to her Trustee are quite vast. The could simply resign as Trustee, reverting her back to the position prior to entering the Trust Deed, and very muh at the mercy of her creditors again. That would mean she is once again fully responsible for every penny of her debt.
The other option would be that the Trustee sequestrates (makes bankrupt) her, forcing her hand. Assets may be realised and orders placed upon her, with far longer lasting consequences than the trust deed.
Lastly, the Trustee may allow the Trust Deed to simply get back on track, allowing her to re-commence the contributions (albeit at a higher level than previously) until the original agreement is fulfilled.
Rob is not currently posting in the Trust-Deed.co.uk forum.
