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Scottish Trust Deed Forum
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Topic starter
03/02/2011 9:47 pm
I hope someone can help.
I am thinking about going for a trust deed. My biggest worry is that both my husbands car and my car were taken on in my name on HP. We both really need our cars and if I sign a trust deed is there a chance I would lose them?? My husband pays for the cars although the finance is in my name. Do I have to mention them in the trust deed?
I am also due to go on maternity leave in a couple of months, will this effect my ability to sign a trust deed? I will be getting statutory maternity pay so my earnings will be greatly reduced and im strugling financially as it is.... Please help!! :O(
03/02/2011 9:54 pm
Hi Dredd
I think the biggest issue is the maternity as it will be difficult to put together a proposal based on stat maternity pay. It may be that something could be organised taking account of your husbands income.
Are both cars definately HP? In a large number of cases this is not the case and may change things. If both are HP, I'm sure something could be worked into a proposal on this.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
03/02/2011 10:07 pm
Hi Mark,
Thank you for getting back to me so quickly.
Both cars are definitely HP.
What would you suggest as a way of taking this forward, taking into account my maternity situation?
Thanks
D
04/02/2011 10:33 am
It might be possible to propose a trust deed where lower payments are made during the maternity period, it'd be up to your trustee to build this in so best to discuss with an insolvency practitioner in advance of signing anything
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