Hi funkie1.

The law is pretty simply on this. The debt that existed on the date that your trust deed began was covered by your trust deed. Interest and charges on that debt stop.

Did you keep using the account after the trust deed began?

Have you actually directly paid any of this interest and charges?

Hello tda to be honest I kind of shut down nd thought the account would close. It remained open to this day with overdraft accruing more and more fees. Even to this date!! It was only when claims management company suggested puting claim in. Financial services ombudsman have been terrible, 2 years on no further forward with my complaint.

Have you spoken to your former trustee about this funkie1?

I'm wondering if they have records of the balance of the account when the trust deed began?

I can't see how interest or charges could be added to the account based upon that balance at the time.

Did you keep using the account after the trust deed began?

Is the bank chasing you for repayment of these charges, funkie1? If so I would remind them of the Trust Deed and ask them to update their records so that all interest and charges after that date are written off. The Trust Deed discharged you from liability for these obligations as long as you weren't using the account after the Trust deed was signed.

Hi guys thanks for replies. The exhaustive 2 year enquiry has pretty much covered everything I think. The charges have already been applied. I’m seeking to recover these. I was told by trust deed manager the overdraft had been included in the deed and would be removed. The account was the only one I had and used to service the trust deed. The bank never removed it.. and since has racked up in excess of £4200 in charges since 2011. It had no idea there had been so many charges.... no allowance for charges were made in the trust deed which further caused me financial pain. Banks argument is claiming ignorance - which they do very well. Even though I called to highlight. The three times I called by coincidence the call recordings were temporarily unavailable...,the bank said they knew nothing of the trust deed. Even though it was declared in the initial declaration of debt. Then subsequently advertised in the Edinburgh gazette...
Will be interesting to see how this goes. Advice from most people is no fees can be applied to a debt that is no longer attributed to you. Can the experts clarify when the trust deed is signed and they take over the finances of the person in the deed if they are legally responsible for them? Trying to understand legally who actually ‘takes on the debts’ it’s clear what’s happened. Someone hasn’t done what they should have ie removed the overdraft! I’ve been then hit with all these fees which the financial ombudsman is kindly helping me try and recover. Would also like to know if anyone could highlight the services of a good lawyer that is experienced in insolvency law as may decide to bring a case agains the bank.

Hi funkie1.

So just to be certain, you did continue to use this account after the trust deed began? I think you're saying that is the case is your most recent post?

If you did, then the bank could contend that further charges could be added based upon the terms and conditions of your account - based upon how you conducted this account after the trust deed began.

The balance owed at the time of signing the trust deed is a creditor of the trust deed - you're effectively discharged from that liability when you're discharged from your trust deed.

Nobody really "took on the debts". They remained yours until you were discharged.