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Scottish Trust Deed Forum
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Topic starter
13/08/2013 5:53 pm
Hi, my friend has asked me to ask a question for her as she said she had problems registering on the site, so here goes:-
She has been employed by the same company for about 8 years and has now been told that redundancy could be imminent. If this happens she would like to do a full time college course to further her career but the course is 4 years. She has only made 6 payments to her trust deed. What happens if she was to go to college? Is it bankruptcy?
13/08/2013 5:57 pm
Hi Lorryjo1983.
I guess there's another question related to any redundancy payment that might be due to her.
If she voluntarily puts herself in a position where she cannot maintain the agreed payments (through choosing not to work) I guess it's likely that the trust deed will fail.
In these circumstances, after that's happened, she'd have the option to become bankrupt.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
13/08/2013 6:06 pm
It's only about £4k she'll get in redundancy. If she goes bankrupt will she not still have to pay a contribution of some sort?
13/08/2013 6:15 pm
Only if it's assessed to be affordable for her Lorryjo1983.
Unlike a trust deed, the fact that no contribution is affordable doesn't stop a case from going ahead.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
13/08/2013 9:09 pm
Thanks for your help TDA
