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Scottish Trust Deed Forum
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Topic starter
21/11/2011 8:09 pm
Hi guys again sharkey here i was reading through the forum like i do most days and the topic of changing bank accounts seems to come up quite a bit . Since the start of my TD nearly 2years 7months ago ( i can see the line its still in the distance but each day i am getting a little bit closer) . My main part of the debt i had was with the RBS but when i went to change my account and at the time of my trust deed the only bank that was near me at the time was the natwest which i went there and opened my account only to find out that they are one off the same . But i never got round to changing it hoping they would not find out !!! like the old saying if its not broken dont fix it !!!!! my question is as i have very little time to go untill i finish ( HOPEFULLY) as its been 2 years 7 months ago and i have a overdraft of £250.00 do you thing they know about mine or if they did would they stop it now, or do you think i will be ok , And to all the other people looking at this web site its the best way and only way that you will take control of your debt if its not getting any better like everything else guys there is light at the end of the tunnel but its up to you when you want to make the journey, And with all the good info from the team here you are on the right place good luck to all who have started the journey regards sharkey
j shark
21/11/2011 9:53 pm
See my topic Sharkey - I think you will be liable for that debt
22/11/2011 9:15 am
Hi sharkey.
Thanks for your kind words about the site.
I don't think you are at risk of the bank setting-off money. The reason for this is that I understand Natwest and RBS operate from different banking licences (despite being part of the same group).
If Natwest realised that you were in a protected trust deed they may not wish to continue to offer you an account with an overdraft facility. You'll need to weigh up whether, after all of this time, they are likely to make the connection.
Good luck with the final months of your trust deed.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
07/01/2012 3:08 pm
Hi guys just wondering as i am only 4 more payments to make what happens now when i finish do i have to wait for them to cancel the direct debit or do i do it on the last day , and do they normaly have lee way when it comes to the equity or would they go straight to bankrupcy if you were having problems getting the cash all helpful tip much appreciated
j shark
07/01/2012 5:40 pm
Hello sharkey.
Just check that you have made your final payment to the trust deed firm then cancel the payment with your bank.
Could you remind us what the situation is with your trust deed and equity in your home?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
09/01/2012 11:30 am
Sharkey how much equity are you trying to get at?
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
Topic starter
10/01/2012 9:51 am
hi guys i have 4 months left on my T/D payments and 8,000 equity to find thats where i am at the minute just wondering what happens if i cant find it thanks
j shark
10/01/2012 12:07 pm
How much do you pay into your trust deed each month sharkey?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
10/01/2012 1:58 pm
£300.00
j shark
10/01/2012 2:58 pm
You may find you could discuss the equity figure with your chosen firm if it seems a little high.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
10/01/2012 6:27 pm
Was the £8000 sum agreed in advance sharkey, or was at an estimate based upon the valuation of the property at the start (with another valuation to take place at the end)?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
10/01/2012 7:20 pm
this was done at the outset of the trustdeed so i knew where i stood on that front
j shark
10/01/2012 7:59 pm
hi Sharkey
If you do not have any way of getting the £8,000 from a third party, you may be able to raise the equity yourself. It would mean continuing with your payments for a further 26 months though, so don't cancel your payments until you discussed the equity situation with your Trust Deed firm. Still better than losing your house.
Shona is not currently posting in the Trust-Deed.co.uk forum.
11/01/2012 7:36 am
Did you ever have a plan regarding the equity??
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
11/01/2012 10:00 am
I dont think an extension would be out of the question. At the current rate you are looking in just over the 2 year region. Obviously every increase reduces this time period.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
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