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Scottish Trust Deed Forum
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Topic starter
26/07/2018 1:00 pm
I have been in the trust deed for over 3 and a half years now and have never been asked to provide bank statements before as I was told at the start as long as I signed the deed before 31st March 2015 I wouldn’t need to as it was only when new legislation comes into affect from deeds dated after 1st of April that bank statements would need to be provided.
Can they now ask for this or am I still covered under old legislation rules?
26/07/2018 1:05 pm
Hi Callum929 and welcome.
I don't really recognise the comments about legislation, but obviously don't dispute that this was the information that you received.
Trustees have always looked to update income/expenditure when a review is completed and to hold documentary proof that the figures are accurate.
Getting bank statements is a primary way of achieving this and I think that this request is normal and reasonable.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
26/07/2018 1:10 pm
I have copied part of an email below that was sent to me back when I first started the trust deed. My understanding was because I signed it before the 1st of April then that is why I have not been asked to provide any bank statement before.
“If you decide to leave it, the scope to increase expenditure ends on 31 March when the new legislation comes into play. As of 1 April, all expenditure needs to be evidenced so it’s important to try push this through before that date”
26/07/2018 1:13 pm
Hi again.
I don't dispute what you've been told, but I still think it's a normal and reasonable request from your trustee.
You could take it up with them if you object on this basis though.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
27/07/2018 9:34 am
Having to provide bank statements is normal and can be required of you by your trustee - regardless of when you signed your Trust Deed.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
