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Scottish Trust Deed Forum
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Topic starter
29/08/2011 5:44 pm
Hi, I am 30 months into a protected trust deed and I have discovered today that no evidence of the debt to one of my creditors has been received by the trustee. I am expecting a phonecall from the trustee to explain what this actually means but I wandered if anyone could advise me of the potential situation...? Does the evidence have to be provided within a certain time & if there is a time limit what does it mean if it is exceeded??
29/08/2011 5:56 pm
Hi jude1981
This is nothing for you to worry about. When your Trustee is paying dividends to creditors, he needs to ensure they have a valid claim with a claim form and supporting paperwork. If they do not produce this, he can reject the claim.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
29/08/2011 9:27 pm
Hi Mark,
Thanks for replying. Ok, so what happens if a creditors' claim is rejected when I'm so far into the trust deed? does it mean the creditor can demand i make payments for longer than 36 months once they have provided their evidence? or, if they can't/won't provide evidence have i defaulted worse than I thought after all this time and am still owe money??
29/08/2011 9:48 pm
Hi Jude
No, in no circumstances can they pursue you during or after the Trust Deed.
This is something between the Trustee and the creditors, so no need to panic.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
29/08/2011 10:13 pm
Hi, sorry for so many questions but I didn't know anything about this until today!
i've stopped panicking but am now wandering about whether my debt to this creditor can be included in the trust deed at all?? could it mean that i'm discharged from it since I think this might be the majority of the debt & a recent PPI offer would pay off the remainder early??
30/08/2011 9:13 am
Believe it or not my IP had to chase creditors for claims....which raised their fees. You would think creditors would be quick to put their forms in wouldn't you?!
Topic starter
30/08/2011 9:28 am
This is what i don't understand - if they want their money then why have they not submitted the evidence required? If they had a problem then they had their opportunity to object & to my knowledge there were no objections. I'm just not sure where I stand...
30/08/2011 9:42 am
Don't worry - you are fulfilling your obligations. As you say their time to object has long past. If they are not submitting evidence of a claim that's their problem, not yours.
30/08/2011 9:53 am
Hi jude1981.
Along with the others I just wanted to reassure you that there is nothing for you to worry about.
I very much doubt if it's going to lead to an early discharge though. Your trust deed firm is likely to want to carry on working to gather all of the evidence they need to pay all of the creditors that they believe that you have. If it's a larger debt I'm sure they'll be forthcoming at some point.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
