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Topic starter
26/08/2023 8:34 pm
Hi all,
I entered into a trust deed a few weeks ago however I have just realised I have a £300 debt with a credit card that’s not included in the TD. Can I pay this off without adding it to the TD or do I need to inform the trustee? This has been a complete accident as TD scotland has looked at my credit report and taken the debts from there and of course the credit report is always a little behind. It’s also my fault I think I was just a little anxious to get things going and forgotten. The account is now closed but the debt is there.
cheers
28/08/2023 7:54 am
Good morning @dcam
I would inform your Trustee about the debt not included in your Trust Deed as soon as possible. These things do happen and it is better to advise your Trustee so the debt can be included in your Trust Deed.
Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
28/08/2023 3:58 pm
@dcam Hi DCAM, just to build on this, whilst you may not have declared the debt at the time your proposal was drafted and the creditor was not detailed in your Statement of Affairs, your liability for this debt is included in your Trust Deed. Once a Trust Deed gains Protected status, it automatically covers your liability for all unsecured debts which were outstanding and owed by you prior to the date on which you signed the Trust Deed.
You should notify your Trustee immediately upon becoming aware of a non-disclosed creditor so the Trustee can notify them of the Trust Deed and allow them to submit a claim, however you should not pay them directly (this is an unfair preference to one creditor and such a transaction could get you in trouble).
