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Scottish Trust Deed Forum
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Topic starter
11/05/2011 10:34 pm
Hi
My husband and i signed our trust deed on the 14th of April and are still waiting to hear if it is protected. We received a text message from the collection team of our trustees Carrington Dean to say that our first direct debit payment will be on the the 15th June but please contact them as soon as posable. When we contacted them they said that the first payment was due 4 weeks after signing the trust deed and that the direct debit would not come out for May so we had to pay it as soon as posable, but we were told at the time of signing that it would be at least 6 weeks before the first payment would be due as the creditors have 5 weeks to get intouch if they do not agree to the protected trust deed. Please can you advise us if this is correct.
Thank you
bcrighton
11/05/2011 11:18 pm
The date of you first payment has nothing to do with whether your TD becomes protected or not.
I did find that my trustee was *very* flexible about the date of the first payment so talk to yours. They want it to work, not fall at the first hurdle so I'm sure you'll be able to reach an agreement.
Cheers,
DFW
12/05/2011 1:28 pm
Hello sunflower1 and welcome to the trust deed forum.
To add to DFW's very sensible comments, we hear that different trust deed companies initiate the first payment at different times. That's entirely legitimate and should simply be agreed between you and the company itself.
As you have received slightly conflicting information it might be best to call them just to double-check everything.
I very much doubt there will be any problem in getting the first payment date agreed and set-up in a way that everyone is happy with.
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