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Scottish Trust Deed Forum
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Topic starter
16/08/2012 3:53 pm
Hi, I entered into a trust deed last year and have just made my 12th payment, my mum has offered me some money to pay towards my trust deed, but it dosent add up to the full remaining 24 months would, do you think my trust deed company would accept this or would I have to have the full amount plus I still have the £500 to pay.
16/08/2012 4:32 pm
Hi girl10
I suspect not. In terms of the Trust Deed you agree a specific amount at the start and creditors agree a certain write off of debt. You would need to make the agreed amount and also the £500 if that was what was agreed.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
16/08/2012 6:02 pm
Hi girl10.
How far short of the total would you be?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
16/08/2012 6:38 pm
I am £900 short plus the £500 for the house, so £1400 short
16/08/2012 10:41 pm
Sorry, I should have asked before:
How much is the total amount due right now?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
17/08/2012 9:55 am
The total amount due right now is £4940 that's including the £500 payment for the House and my husband has a separate £500 to pay for the house as he was made bankrupt, but we another couple of months before we gave to pay that one.
17/08/2012 10:13 am
There's nothing to stop you making the offer to the trustee, though realistically I think you may be a little too far short of the total.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
17/08/2012 2:31 pm
Hi girl10
I agree with Kevin. There is no harm asking the Trustee, however i do think it would be a little to short. It would have to be a reasonable amount to satisfy the creditors.
What was the the amount of debt at the beginning.
Michael is not currently posting in the Trust-Deed.co.uk forum.
Topic starter
20/08/2012 10:24 am
The totsl amount I had to pay was £7160, we have also discussed selling our house and renting from a friend as it would save us money every month but what would happen if we didnt get the full amount for the house as we have a secured loan on it and if we sell it we might be about £3000 short to clear it of in full, i also got a letter on friday regarding PPI, dont think i had this on anything but my trustee id looking into in, what that go to my trustee in full, sorry for all the questions
20/08/2012 4:48 pm
Hi girl10.
You'll possibly want to discuss the sale of your home with your trustee. They may have some concerns if a shortfall will be created (if it sells for less than is currently owed in total).
Payments from PPI claims are likely to go into the trust deed to help repay creditors (in addition to any due monthly contributions).
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
