A close friend signed a protected Trust Deed nine months ago. There has been no problem with keeping up his payments and he's been pleased with the Trustee.
He's currently involved in a civil dispute (not a debt issue) and his solicitor has just received a letter from the counterpart's solicitor demanding confirmation that he's signed a Trust Deed.
Is this normal procedure please?
Welcome to the forum nastynick.
It's hard for us to comment on legal procedure as it's out of our area of knowledge.
If there is a financial dispute (or a dispute that could end up with financial consequences) I can see why the trust deed might be considered to be relevant though. For example it could have ramifications for your friend's capacity to pay if they were to lose a claim, or what would happen with any money gained as a result of winning a claim.
quote:
Originally posted by Trust Deed Assistant
Welcome to the forum nastynick.It's hard for us to comment on legal procedure as it's out of our area of knowledge.
If there is a financial dispute (or a dispute that could end up with financial consequences) I can see why the trust deed might be considered to be relevant though. For example it could have ramifications for your friend's capacity to pay if they were to lose a claim, or what would happen with any money gained as a result of winning a claim.
I can see that, thanks. My friend is simply surprised that the other solicitor knows he's signed a Trust Deed, which he believed to be a very private matter. That's what I was alluding to by 'normal procedure'.
I see what you mean nastynick.
As a trust deed is a formal insolvency procedure there are publicly available records of those that have signed trust deeds which anyone can consult if they choose to.
I can see why a solicitor might want to check such records for the reasons mentioned previously.
quote:
Originally posted by Trust Deed Assistant
I see what you mean nastynick.As a trust deed is a formal insolvency procedure there are publicly available records of those that have signed trust deeds which anyone can consult if they choose to.
I can see why a solicitor might want to check such records for the reasons mentioned previously.
That's grand, and I think answers the question. Thanks.
quote:
Originally posted by nastynick
quote:
Originally posted by Trust Deed Assistant
I see what you mean nastynick.As a trust deed is a formal insolvency procedure there are publicly available records of those that have signed trust deeds which anyone can consult if they choose to.
I can see why a solicitor might want to check such records for the reasons mentioned previously.
That's grand, and I think answers the question. Thanks.
A further question please. Does that mean that he can view his own record somewhere, or when you say publicly available are you not referring to the general public.
He's still pretty upset about the confidentiality thing.
Hi Nastynick
The proposed TD is advertised in The Edinburgh Gazette initially, which you cannot buy in the shops but is available on line.
Once registered, it is recorded in the register of insolvencies which is freely available to view online
Hi again nastynick.
It is publicly available information. As tinsoldier has stated:
There will be a record on the Edinburgh Gazette website (where the trust deed will have been advertised).
Also anyone can sign up to access the AIB's Register of Insolvencies which is also online.
I should add that i'd never heard of this register until i signed a TD - so its not something people will be looking through for no real reason
Thanks to all. That now answers the question for him.
NO - NOT me!!!!!