Hi peter.

Your thread has raised some interesting questions so I've spoken to a number of contacts at different firms on the subject.

Legislation about bankruptcy changed in 2008 which included reference to acquirenda applying for one year. Some trust deed providers decided to apply this to trust deeds and changed their paperwork accordingly. Some did not make this decision and their trust deed paperwork remained the same as it had been previously.

Accordingly, as stated by Julie and Kevin, it would appear that the most important factor might be the actual contract that you entered into.

Thanks for you help but surely if the law changes.,then the IP firms must change the way they set up trust deeds to take into account the change in legislation.Why should the debtor be disadvantaged.or is it pot luck which IP firm you chose to take out your trust deed with between 01/04/2008 and 15/11/2010

The change in 2008 related specifically to sequestration peter.

It would appear that different trust deed providers made different decisons about whether they should apply the same to the protected trust deeds they were handling.

The exercise of judgment in this way by Trustees isn't unusual as not all situations that can arise have simple black and white answers. However I can appreciate that anyone affected in some way by this might not perceive it to be fair.

So IP Firms are above the law or can choose to disregard it.surely if the law on acquirenda changed it should have been applied across the board.,,, seems unfair.

I dont think those comments are accurate or fair peter.

The law was specific to bankruptcy. It wasn't specific to protected trust deeds.

Thanks for the reply.The wording on my Debtors Account of Current Affairs states that i need to advise my trustee of any assets acquired by me twelve months after signing my trust deed,i cant see a company as reputable as this making such an error,If as Julie says there was a flaw in the legislation that reduced acquirenda to one year from 01/04/2008 until 15/11/2010 then all the trust deeds signed in this period could be legally challenged if you have handed over assets after the one year following the signing of the trust deed.I am thinking mainly but not exclusively PPI.

The nature of the legal contract you signed is certainly relevant to your trust deed peter. Julie and Kevin have pointed to this in respect of anyone considering the same issue.

Whether someone who had signed a trust deed contract with different wording could make a legal challenge against a requirement to pay over acquirenda, based upon bankruptcy rather than protected trust deed legislation, seems to open to question. That is perhaps somewhat backed up by the fact that different trust deed companies have interpreted this situation quite differently.

I'd have thought any kind of such a challenge might be a little uncertain and expensive. That kind of legal question probably falls outside of the scope of this site though.

Thanks for the reply TDA I have resd my trust deed document and it states apart from Section 33(1)of the Bankruptcy Scotland Act 1985.that i must convey to my trustee my whole estate which i own or will own during the period twelve months from the signing of the trust deed

Hi peter.

Are you currently in a dispute with your Trustee on this subject?

Not yet but i could be soon the trustee wants to extend the trust deed because ive missed 6 payments because of illness i also have a bit of money coming but as Kevin says if it is a legally binding contract then i don't need ro tell the trustee about it or am i wrong

Hi peter.

It's really a question of whether you have to pay over the money rather than whether or not you should tell your Trustee.

I think you should fill in the paperwork and answer whatever questions are there. I'd expect your Trustee to abide by the terms they drew up.

Thanks. The trust deed i signed 2years ago states i only need convey any estate i own or are will own one year from execution of the trust deed.so i feel legally i dont have to mention it.,