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Scottish Trust Deed Forum
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Topic starter
28/03/2012 9:37 pm
In february i received a letter from my trust deed saying march was my final payment, however i received a letter today, 28th March to say they now want a further 3 payments to cover the cost of 50% of my vehicle, which was never in the deed,and was told at the time would not be touched due to it not being worth anything at the end of the three years, and that it was needed to get to my work, they have already went for half of my divorce share of the matrimonial home, which was never mentioned either, its as if they are making it up as they go along, what rights do i have now ??
28/03/2012 9:43 pm
Hi MMA
Do you have anything in writing confirming that they have no interest in the car?
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
28/03/2012 9:48 pm
no. i dont have anything to say they are interested in it either.
MMA
Topic starter
28/03/2012 9:56 pm
needless to say the man who took out this trust deed for the company im with, does'nt work with them anymore, i wonder why ! I feel i have been totally mislead, and am never getting freed from this.
28/03/2012 10:00 pm
Hi MMA
I know it's no consolation, but I can only stress on this post and 1000 other posts previously that unless you have all these matters confirmed absolutely & in writing, then it moves into the grey area and then open to interpretation.
I turn on the TV and all the experts ( call centres) are selling something. People are vulnerable and sign up to the promise of relief from creditors pressure. It rarely works.
I can say it 1000 times, please avoid adverts & middlemen and speak directly with an ip firm. Ask 100 questions and mostly ensure that everything is confirmed in writing before you do anything.
Rant over
Mark
Ps rant 2. If a firm is unwilling to meet face to face without you having to sign up to something, then ( in my opinion) I would not entertain them.
Mark is not posting regularly in the Trust-deed.co.uk forum.
28/03/2012 10:37 pm
Hi marshall.
I'm sorry to hear that you find yourself in this position.
It is the case that a car or home which constitutes a significant asset must be dealt with in a trust deed, so without anything in writing your options are limited.
It's clearly wrong if this wasn't made very clear to you at the start, but the fact that it wasn't doesn't mean that your trustee can ignore assets.
You can, if you wish, register your concern about the situation using the complaints process of your trust deed firm and thereafter with the professional regulatory body of which your trustee is a member.
Other readers with assets who are considering starting a trust deed can avoid these types of problems by insisting on written confirmation of how things like a home, car, or extra income will be dealt with BEFORE signing their trust deed. The firms represented here by Mark, Kevin, Shona and Chris are each happy to do this as I'm sure many others will as well.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
28/03/2012 11:57 pm
Would the car not be listed as an asset with a value attached if they intended maintaining an interest in it? Both mine and the wifes TD's had our separate cars listed even though hers had a value of nil written on the paperwork.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
