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[Solved] Can Someone Help

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(@bmg68)
New Member
Joined: 2 years ago
Posts: 2
Topic starter  

Hi all,

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I am looking for some advice.

I have just completed the 5th year of my trust deed and have one more year to go (started in June 2018 & completed my contribution payments in June 2022 and have completed one year of my inheritance due to owning a property which did not have the required equity, I was informed at the time that it would be 4 + 2 years).

I was informed last year by my trustee that I would no longer have to give an annual review of my banking as my contribution element had been completed, is this the case?

I was also informed that I can if I wish pay off the inheritance payments towards my property so that i am no longer paying on a monthly basis (for example if a relative gave me the money to cover this) can you confirm if this is also correct and that i would not be penalised for doing so.

many thanks in advance.

Bย 

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Kevin Mapstone
(@kevin-mapstone)
Member Admin
Joined: 16 years ago
Posts: 4253
 

Hi there B.ย  You are right on both counts.ย  Any additional payments after the initial 4 years in respect of assets should be for a fixed amount.ย  As such, there is no need for them to review your circumstances any longer and there is nothing to stop you finishing the Trust Deed as soon as you like if you can get the funds together from somewhere.

Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.


   
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(@bmg68)
New Member
Joined: 2 years ago
Posts: 2
Topic starter  

@kevin-mapstone Thank you Kevin.

B


   
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