Hi fedup.

Just reading your old posts I think there was a change in your circumstances that left you unable to make payment to the trust deed, and I think you might have (or have had) some mortgage arrears as well?

If your trustee considers it to be justified, and in the best interests of your creditors, they could resign and leave you back with your debts or move towards making you bankrupt.

One risk of bankruptcy, if you have equity in your home (which you previously mentioned that you might have) is that your home could be put in jeopardy.

The advantage of bankruptcy (whether it's your decision or that of your trustee) is that you might be able to put this trust deed, that clearly isn't functioning as you'd originally hoped, behind you.

Hi thanks for the reply,yes i do have mortgage arrears arround £2000 and i think there would only be around £12,00 equity in property if that,part of me in the past wanted out of the trust deed as i felt i was constantly being assigned to new people dealing with the case which really lost my trust in the company as a whole and with the txts ive recieved lately im unsure why they are stating arrears of different ammounts so im unsure where to go from here,would i be able to go for sequestrion myself,or do i need to wait for them to resign from their position as trustees,ive read of folks on here having bank accounts frozen which would just cripple me altogether.
Ive got to a stage feeling "is my home worth fighting for" ? would i be able to rent? feel like walking away from it all.

Hi fedup.

If money can be realised for your creditors it's possible that your home would be sold if you became bankrupt. You are also likely to have to raise this cash one way or another if you were to continue with your trust deed.

You'll have to be out of the trust deed before you can become bankrupt. Your trustee may enforce this course of action, but if they do not you'll be able to organise it for yourself once discharged.

We have heard from many people in this forum for whom renting a property if they become bankrupt or started a protected trust deed has been a major worry. Having said that, I cannot remember one that wasn't later able to find a property.

At the moment the only major bank offering an account to undischarged bankrupts is Barclays, and this account may not be available if you owe Barclays money. There are other fee-paying accounts, like Think Banking for example, which can be used while bankrupt.

Hi does that mean my bank account could be frozen by trustees ?..ive noticed a few folk saying they had bother getting a bank account,when i entered my trust deed i was told to close one i had and open new one i went to RBS and to be honest havent had a single problem so hope that helps others.
The other worry ive had hence not facing up to it is when i entered trust deed it was accepted due to including my husbands earnings,weve split up so i reckon they would just take action anyway,also rentals are actually more expensive than my mortgage.
Ive also heard you can chack a website to find out if youre still in a trusdeed would you happen to know the site details?

google 'the Accountant in Bankruptcy Register' or check posts here in the last couple of days where a link has been posted. You need to register and login but it's straightforward and quick. This is the register for both bankruptcy and trust deeds.

Hi thanks i had a quick look so i take it i have to put all personal details in the form...im always a bit wary of any site asking for my address etc.

Hi fedup.

The AIB is an agency of the Scottish government. You'll not be handing over your details to online cowboys.