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Scottish Trust Deed Forum
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Topic starter
18/05/2010 8:09 am
Hi, I've been struggling to pay my trust for a while now, I was aloud to keep my car with the value of ?ú5000, I had to sell it but never told my tustee, now I maybe being made bankrupt what will happen wen they find out. Really worried.
thank you
18/05/2010 9:26 am
What happened to the funds gill85? The trustee in your bankruptcy may make some effort to recoup the money somehow but if the money is gone I'd be surprised if there is much they can do. I guess they might seek to set up a Bankruptcy Restriction Undertaking, which basically means that the restrictions under a bankruptcy last for longer than usual, as a penalty for "alienating" your asset.
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