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(@nastynick)
Eminent Member
Joined: 14 years ago
Posts: 22
Topic starter  

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?


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

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.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@nastynick)
Eminent Member
Joined: 14 years ago
Posts: 22
Topic starter  

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'.


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

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.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@nastynick)
Eminent Member
Joined: 14 years ago
Posts: 22
Topic starter  

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.


   
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(@nastynick)
Eminent Member
Joined: 14 years ago
Posts: 22
Topic starter  

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.



   
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(@nastynick)
Eminent Member
Joined: 14 years ago
Posts: 22
Topic starter  

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.


   
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(@tinsoldier)
Honorable Member
Joined: 14 years ago
Posts: 634
 

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


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

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.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@tinsoldier)
Honorable Member
Joined: 14 years ago
Posts: 634
 

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


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

That's true.

This information is generally something that people need to go looking for rather than being likely to stumble into.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@nastynick)
Eminent Member
Joined: 14 years ago
Posts: 22
Topic starter  

Thanks to all. That now answers the question for him.

NO - NOT me!!!!!


   
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