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Scottish Trust Deed Forum
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Topic starter
25/06/2012 4:58 pm
Hi there,
I started a trust deed in November 2009 which is due to finish this november. I have been in touch with my trustee but am failing to get the answers I require. I have made my full payment each month.
I have a car which is currently valued at £4000. I upgraded my car in October 2010 paying an additional £1750 towards it which my sister who lives in Dubai contributed 100% of.
I want to know what will happen as at November, I know my car will be valued and anything above £1000 I may have to pay? However, what would happen with the £1750 my sister contributed to this? She sent an email and we both signed a letter which was sent to my trustee advising of the situation.
I hope this makes sense and any feedback would be greatly valued.
Chelsea
25/06/2012 5:31 pm
I dont think this should be a problem.
If you can demonstrate the funds came from a third party, then any reasonable IP would exclude this.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
25/06/2012 5:33 pm
Thanks Mark for the re-assurance. Would this signed letter and email at the time be sufficient? How should I deal with this for now as so far the trustee has refused to commit to advise what the process would be? Naturally, I am hopeful to be discharged as soon as possible after November to start rebuilding my credit rating.
25/06/2012 6:13 pm
I think you would need to show bank statements evidencing the payment coming out of the other account and into yours.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
25/06/2012 6:15 pm
It was paid in full by cheque by my sister - there was no transactions involving my account. Obviously I can show statements for time of purchase to show it was not made by me?
Chelsea
25/06/2012 10:56 pm
That sounds like it should be fine.
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