Hi gresgow.

If you want an answer from your trustee's office you should contact them directly. From a data protection point of view there's no chance that they can comment here other than in the very most general of terms.

You'll need to give us a fair bit more information I think if you want a view from the experts here.

How much money was with this organisation?

What line of business are they in?

What was the source of the funds you had with them?

TDA

In answer to your questions:

£581

They are a well know high street operator

The funds were funds that were left after my monthly trust deed payment had been paid.

Was it a bookmaker gresgow?

Yes it was - does that make a difference as opposed to it being Marks & Spencer pr some other retailer?

Without meaning to upset or insult anyone I know that you have a gambling problem which you have previously said you were getting help for. (I have mental health training) and therefore would have thought that having an account in a bookmakers is one of the very worst things you could have. I realise that you may take this advice badly but perhaps your trustee has actually done you a favour removing one of the aids which helps you with your addiction. I have a feeling I know how you will react and am very well prepared for it.

Hi gresgow.

Being honest, I think you sometimes present questions and points here in a very one-sided way.

You have, by your own admission, fallen behind on your trust deed payments repeatedly and have broken special arrangements offered by your trustee to try to enable you to retain your home.

Surely you can understand why your trustee would seek to recover the best part of £600 in a gambling account that is rightfully owed to your creditors?

I'm not seeking to belittle your difficulties gresgow (though I don't think you have specified that gambling is the addiction you've mentioned previously). It must be very difficult if that's the case.

It's pointless pretending that your trustee hasn't got a job to do though, or that your creditors don't deserve to be protected. I hope you'll come to understand that.

If you refer back to my first post on this matter I asked a question. Having clarified the position I am asking the question again. If there is not a specific answer please do not feel the need to judge.

Yes I present questions in a one sided way, my way. I often come onto the forum outwith times when I am able to contact my TD company.

I may be being naive but I would have thought that having retrieved £581 in this instance from a perfectly legal source this would have reduced my balance owed and this is what I sought to clarify as my Relationship Manager has stated that this is not the case.

Can't help feeling there is a little hypocrisy here. Are we saying that nobody in a TD buys a lottery ticket/scratchcard, etc?

It's winnings that they took gresgow?

Remember you owe the full amount of your original debts until your agreement ends. Only then is any amount forgiven.

TDA

No it's now winnings, just money that I had placed into the account. Under the t's & c's of the bookmaker I am not allowed to hold an account while in a TD.

I thought that when they closed my account they would return the money to me but they discussed it with my Trustee and and my Trustee told them to pay the money over to them even though the bookmaker has nothing in their t's & c's which allows them to pay money in my account to a 3rd party.

I asked my TD company to pay this money back to me and explained the financial hardship that I faced it they did not. This did not cut any ice. Thanks very mch to my Trustee for than.

Now I am being told that this money will not reduce the balance owing on my TD.

Hi gresgow,

I can understand your frustration but unfortunately It's your Trustees responsibility to try and recover as much as possible for your creditors.

At the moment a big problem for us is PPI compensation payments and clients asking why this money cannot be used to reduce the balance on their Trust Deed.

If we look at things in terms of Pot A, Pot B, Pot C and so on.

For example, when someone enters into a Trust Deed whatever their monthly contribution is will accumulate over 36 or now 48 months and go into Pot A.

If that person has equity within their property or within an asset such as motor vehicle then after 36 / 48 months, the client can then use the monthly payment to pay into Pot B.

If in the circumstance where you acquire or inherit an asset, receive PPI or have a lottery win or some other sort of winnings then these will go into Pot C.

At the end of the Trust Deed the funds within the pots are put together and this is what is used to pay back as much of the money owed to creditors as possible.

It's unusual and I think can be unfair to creditors for winnings for example to be used to pay back some equity. Creditors would want the full equity plus the full amount of any winnings/inheritance.

Do you have much longer to go in your Trust Deed/Balance to repay?

So if it's just money that you've placed in your account you'll need to make that argument to your trustee gresgow and offer them some proof.

You may also need to be ready to explain why you put so much money into that account while being in arrears on your trust deed payments.

If it's winnings, or partly winnings, hopefully you'll understand from David's post why that element would not count towards the equity.

forgive me if I am wrong, but I remember reading any win over £250 must be disclosed which would suggest to me that the first £250 should be gresgows and the remainder go to the pot.