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Scottish Trust Deed Forum
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Topic starter
13/03/2013 9:28 am
Hi,
I am looking for advice, I have been on a trust deed since Sept 2009, unfortunately due to being made unemployed twice I have accumulated arrears & my trust deed has been extended, I am now in employment & agreed to make the payments back, even though this is causing hardship & was told that if I kept up the payments till Oct 2013 the trustee would ask if the creditors if they would accept a lesser payment.
This morning however I have received a letter from my trustee saying that they have asked for an extension of 16 months to be applied to the trust deed, I have a 5 year old & the thought of them going without for another year because of my debts is causing me worry, can the trustee do this or can I ask for the trust deed to be transferred to another trustee?
13/03/2013 9:47 am
Good morning Walt jabsco.
I'm afraid you cannot switch to another trustee. The best you can hope for is to try and persuade your trustee that as the change in circumstances was beyond your control then it would be unfair to extend the term as they are suggesting.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
13/03/2013 10:00 am
Thanks Kevin, I'll try that,
I am finding it difficult as it is to keep up payments & made drastic cuts but didn't want to get so close to finishing the payments to have it all been for nothing, only to find it was extended again
13/03/2013 10:12 am
Hi Walt Jabsco,
I'm sorry to hear that your having financial difficulties and the change in your circumstances.
It may be a good idea to ask for a meeting with your case manager/Trustee. It's sometimes easier to understand such a change in someone's circumstances from a meeting than it is over the telephone.
As Kevin has said, advise them of your change in circumstances, what your income has reduced by from when you first entered into the Trust Deed until now and that you feel a further 16 payments at the same amount would be extremely difficult to maintain.
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