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Get Out Trust Deed Early

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(@nicola_36)
Active Member
Joined: 1 year ago
Posts: 9
Topic starter  

Hi 

I am wondering if you can help. I have been in a protected Trust Deed for nearly 2 years.

However is there anyway I can get out of this?

I am due to receive a backdated payment for child disability payment that my son has now been awarded and I am wondering can I use this to pay towards some of my future contributions and then ask a relative to pay the remainder so I can get out of the Trust Deed before I was due too?

I still have another 3 years to go as my Trust Deed was extended by 8 months due to my car 

Hope you can help

Kind Regards

Nicci


   
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Kevin Mapstone
(@kevin-mapstone)
Member Admin
Joined: 15 years ago
Posts: 4212
 

Hi Nicci.  I'm afraid the regulations say that a Trust Deed must run for a minimum of 4 years, unless you manage to pay your debts in full along with the trustee's fees and outlays.  It isn't possible to pay the remaining scheduled contributions only and then finish early.

Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.


   
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