Notifications
Clear all
Scottish Trust Deed Forum
5
Posts
3
Users
0
Reactions
1,497
Views
Topic starter
01/06/2012 8:05 pm
I am currently waiting for my trust deed to be advertised and I am worried that the creditors might be able to take action ie wage arrestment prior to the end of the 5 week period. I signed the first part of the trust deed on 15 May and a letter of appointment was sent to me which I returned the same day, I believe the trust deed would be effective from 24th May when the IP would countersign it. As it has not gone in this weeks gazette it will be next Friday at the earliest before it can go in and I dont know if it will or not. I stopped making payments to my creditors on signing the trust deed and although I had missed no payments prior to this I am worried that they will start taking court action against me while I wait for it to be advertised and then the 5 week period. I may be worrying about nothing but I just need some reassurance and info on the timescales that the creditors work to.
01/06/2012 9:05 pm
I find it highly unlikely your creditors would take any legal action as you have only just defaulted on repayment, the only worry I had at this point was whether the agreement would become protected and I was panicking over nothing on that aswell! Hard as it is try and relax a little with the knowledge that you are sorting your financial problems out for good x.
Topic starter
01/06/2012 10:48 pm
hi cheerykel
thanks for your reply as you say I need to relax I am just being impatient and worrying about the unknown and wanting the 5 week period to start so I can get through that and then really see the light at the end of the tunnel and I can finally get my finances under control.
03/06/2012 11:22 pm
the gazette is published twice a week, worriedmary, so hopefully your trust deed may be advertised on Tuesday.
It takes several weeks for creditorsx to go through the various stages of legal action - I am sure you have no need to worry
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
04/06/2012 10:30 am
hi many thanks for your assurance, I have managed to explain to one of my creditors that I had signed a trust deed and they took note of this info and said they would hold phone calls for 2 weeks to see if the trustee advised them of the trust deed. They wont believe you have signed a deed until they get something from the trustee so hopefully it will go in the gazette soon and then my creditors will get the paperwork and I will have a copy which I can refer to and also be able to refer them to the gazette entry. I will phone my IP again to see what is happening if it is not in at the end of this week.
