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Scottish Trust Deed Forum
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Topic starter
18/07/2013 1:53 pm
Hi There,
I've been in a trust deed for about 2.5 years now, no major issues, a few minor issues with KPMG, mostly to do with replying, or not, to correspondence.
I was looking for a little guidance regarding an issue I may have. Long story, but part of my property was damaged by an adjoining development, after a bit of a fight with the developer, they have agreed to put right the damage caused. I was hoping that they would just do the work, but they want us to get quotes and get the work done ourselves, they will pay us an agreed amount to cover the costs.
This is obviously going to involve a large amount of money coming into my account, but as it will be going back out, quotes and receipts will be provided for all works, will this have any affect on my TD, do I need to declare it or pay it into the deed as its for specific works?
Any assistance that anyone can provide would be most gratefully accepted.
Cheers
R
18/07/2013 2:14 pm
Welcome to the forum Robert4567.
I doubt that your trustee will have any issue with this provided the money is all to be used to pay for specific works (rather than extra being paid in compensation for example) and that the money subsequently is actually spent in this way.
You'll want to clear it all with your trustee in advance so that there's no scope for confusion later.
They may wish to see some paperwork confirming the facts and the transactions so it's worth holding on to everything that you receive.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
18/07/2013 2:23 pm
I'd second that, let your trustee know in advance in order to avoid any issues, but I don't see why there should be any problem.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
19/07/2013 9:23 am
Thanks for the information guys, much appreciated.
I'll get onto KPMG, but probably by the time they get back to me, the deed will be finished.
R
