Can you provide more information, swimwithsharks? Eg Is there equity? Has the trustee attempted to sell the property? If so has this been opposed by yourself or your ex-wife?

Hi Kevin,

i have not lived in the property for some 11 years, the house is now empty and at long last up for sale,my trustee has spent the last few years trying to get a £4000- £5000 payment from my ex for my share of the equity in the property,she has done a lot of stalling,agreeing to pay them and then renegeing on it.did have to get a court order to force a sale which was successful within the last 18mths.I just feel that surely the three years or maybe an extra 2 years at worst should have been enough time for this to be resolved.Now my trustee wants to stop the property being repossessed by the bank (as there are arrears of 1500) which i feel would bring things to a close quicker!!

Hi swimwithsharks.

It's very easy to understand why you would be frustrated with the trust deed having taken as long as it has due to all of the complications. Without a very detailed knowledge of the circumstances it wouldn't be possible to comment fairly on whether things should have happened sooner.

I can see why you'd be happy to see the property repossessed but your trustee has obligations to try to realise what they can for the creditors rather than to proceed to the quickest discharge of the trust deed now possible.

Thanks anyway, if someone i knew now was thinking of entering into a trust deed theres no way knowing what i know know about them that i'd advise them to sign one,for me its a license to print money for accountants for very little work and given the choice of that or bankruptcy it's a no brainer,a shade cynical perhaps but something that was supposed to help me has turned out to damage me quite badly finacially for the last 7-8 yrs.

Hi swimwithsharks.

In the very unusual circumstances I think any reader would sympathise with your view that, with the benefit of hindsight, a trust deed hasn't turned out as you had hoped or expected.

I don't think that protected trust deeds are kept open solely with the aim of enriching practitioners though and I'm sure your trustee would also have preferred everything to go as originally expected.

I hope things don't take too long from here.