Notifications
Clear all
Scottish Trust Deed Forum
3
Posts
3
Users
0
Reactions
1,569
Views
Topic starter
14/09/2010 9:03 pm
OMG After reading all the reasons for extending PTD's I think I may have a problem. My dogs are currently worth over ?ú1000! I have 2 which are currently selling for ?ú525 each? Can they be considered an asset? Will I need to extend my PTD to keep them? I have double-checked the pet insurance and there is definetely NO PPI involved. I had expected a FED EX van to turn up within 24hrs of the final payment, with the discharge notes. If they find out about the dogs..........Seriously, I won't sleep tonight. I can't find out anything, anywhere pertaining to the value of dogs. Is this another grey area?
14/09/2010 11:05 pm
Hello eoin8008,
Well I can honestly say that I've never heard of a dog (or dogs) being treated as an asset in a Trust Deed!
Our experts may know otherwise but I doubt that even their range of experience will extend this far.
Hopefully you and the dogs can sleep soundly tonight.
On a serious level though a Trustee has a legal responsibility to realise the value of significant assets for the benefit of creditors. I think the problem that has been apparent in a number of recent threads has been that this hasn't always been made entirely clear to people before they sign the Trust Deed. Where someone has assets that might be taken into account in a Trust Deed (or bankruptcy) other solutions, including for example DAS or debt management plans, should also be considered.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
15/09/2010 9:31 am
I imagine your trustee would be happy to let sleeping dogs lie (sorry - couldn't resist!). Technically they could be viewed as an asset, however given the hassle and cost involved of selling the dogs I am almost certain would mean they would be left alone.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
