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Scottish Trust Deed Forum
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Topic starter
23/03/2012 8:59 pm
Hi,
I am currently half way through my protected trust deed and a divorce. My wife is worried that when my TD ends my creditors will chase her for any outstanding debts. Her solicitor has advised her to get me to sign an agreement to say that they wont and that I will be liable.... Doesn`t make sense to me to be honest...
deid
23/03/2012 9:23 pm
Hi deid
Creditors cannot, in any circumstances, pursue her for your debts. This would only be possible if the debts were signed in joint names.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
23/03/2012 9:38 pm
even if the debt was through our marriage?
23/03/2012 10:02 pm
Hi deid
that has no effect on things whatsoever. The legislation of the Trust Deed overrides that, it is an equalising diligence and they cannot pursue your wife under any divorce or minute of agreement unless she is silly enough to personally guarantee the debts, which she won't.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
23/03/2012 10:04 pm
Many thanks Mark.
23/03/2012 10:09 pm
Hi Deid
No problem at all. Glad to help
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
