Welcome to the trust deed forum duckless.

It's impossible to say without seeing the letter, but it sounds as though you may have been discharged from your trust deed but with your debts still intact.

Effectively that would leave you back at square one.

When was your home repossessed in comparison to the start date of the trust deed?
Was your trustee expecting that to happen?

If you have been discharged from the trust deed you would be able to start the bankruptcy process.

Thanks Square one seems a long way away! The reposession was at the same time as the trust deed and it was included in the initial figures but not the final ones on my PTD but i was told I could add it in once the house was sold. The letter seems to be one he has sent out to my creditors.

How do I check if this is the case and I can now go for bankruptcy- Should i go back to nbational debtline- feel a little silly if i have to do that can i do it myself- Can you tell i am now feeling totally lost again??
Thanks for your advice

Hi duckless.

It seems unusual for this to happen without warning because of a single missed payment.

Is there any other background to the situation?

Not that i know of I have asked him to call me tomorrow to see if I get a response but I diodnt get the letter until late this evening so I will need to see what he says tomorrow IF he calls me back. Thanks

It's extremely unlikely that a Trustee would/could follow this route on the basis of a single missed payment.

If this is the route he takes then you would be in the position you where before you signed the Trust Deed. Your options would then be open again to Trust Deed or Sequestration.

Mark

Although you received a letter saying the trust deeed was finished, please check on the Insolvency Register to make sure you are out of the trust deed before applying for bankruptcy. I met someone recently who had the same letter, and so applied for bankrutcy, only to find out the trust deed was still live and the Accountant in Bankrutcy could not make the award. What a waste of her £200.

Hi all,
Thanks for the responses.
I have just spoken with the trustee and payments have not gone through for July and August- I am now in a state as I dont know what has happened to that money 🙁
Anyway moving on I have asked him by email just now to see if I have been discharge and if I can apply for bankruptcy,

Do I have to now sek more debt advice and if so who would I then contact for this before i start the ball rolling
Thanks

Hi duckless

If the money has not gone through it should still be in your account. If it has been taken, you will need to check with the bank to see where it has gone.

Mark

Thanks Mark.

Soted with the money but they are still going to carry on with not allowing me t continue on my trust deed so i am going to apply for Bankrupcy- As asked to I have to seek more debt advice or can I just apply for this now? Thanks

Once it is confirmed that you are out of the trust deed you will be able to become bankrupt duckless.

You don't have to take advice, but doesn't mean that it isn't necessarily a good idea to do so.

How much have you been paying into your trust deed each month?

Do you own any assets?

You'll need to think about how you will go about the bankruptcy process. The following page might be a good starting point:

https://www.trust-deed.co.uk/bankruptcy-sequestration.html

PLease please hope someone is there. I went to pay for petrol with my card and it was declined phoned the bank Coop and they said Grant Thornton had faxed them and put a stop to any card payments on my account and only direct debits are allowed- My wages go in tonight i have bills to pay and i have money in my account i cannt get to. They said i can take out cash at a branch the nearest one is 100 miles away.
Can they really do this? And if so how can i get my money??? I am in tears here going from bad to worse and just want it all to stop

Hello duckless.

You sound as though you're having a horrible evening.

I hope someone at your trust deed firm can give you a good explanation why such a serious step has been taken first thing tomorrow.

It really sounds like something "extra" is going on here. Ending a trust deed after a single payment is missed and issuing an instruction like this to a bank tends to indicate that a trustee might have a serious concern of some sort.

Hi There were three payments missed only one of which has been paid to them now since march when i started. They have stopped the trust deed immediately and I now dont understand why they can stop my card. Do you know if this is legal or where i can read up on it before i call them tomorrow??
Its payday tonight and I cant get to any of the money to pay anything tomorrow
x

Hi duckless.

Sorry, I had missed your earlier clarification about the additional two missed payments. Cancelling a trust deed after three missed payments seems less unusual.

Much of the work handling a trust deed occurs at the start of the process. I'm wondering if your trustee is trying to recover funds to cover their costs of doing this work that you instructed earlier this year.

I think you're going to have to ask them what their intentions are tomorrow.