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Scottish Trust Deed Forum
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Topic starter
17/06/2014 7:41 pm
Okay we have got ourselves in a right pickle.
Last October my husband received £1700 from a policy he had had for 10 years. This was part of the trust deed and was to be surrendered. I left three messages for our agent at RSM and never got a call back. I did not know how to get them the money. then I forgot about it. my husband thought it was paid. it sounds strange but we run the current account for his business and my wages too so most months there is in excess of 600 coming in and going out. it just got swallowed up.
Now apex took over just after that and have written today to say they have written to Royal and sun alliance to ask for the payment.
my husband is panicking as we just don't have that money, we are going through a real tight patch as it is and his self assessment will be due in July and we don't know how we will pay that.
My husband is concerned we have broken the trust deed and says we will have to find the money or loose everything and be sleeping on the street.
I am more hopeful they will let me set up a DD for say £200 per month, which would mean he will have it paid by the end of his trust deed.
any ideas what kind of action Apex will take?
its a nightmare come true
17/06/2014 7:45 pm
Hi LisaJane
The funds from the policy as you will be aware should have been paid to the Trustee. I think it's extremely unlikely that the Trustee would fail the Trust Deed if the money has been spent, however will look to recover this.
I think the offer of £200 per month is more than reasonable and by the end of the payment, there will be no loss to the estate.
Don't worry too much, I'm sure it will be fine.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
17/06/2014 7:55 pm
Hi Mark,
Thank you for your fast reply, it is appreciated.
I will look to call them in the morning and hopefully they will be as understanding as you put in your post. You have settled my nerves a bit.
thanks for you assistance, it is appreciated.
Lisa
17/06/2014 8:02 pm
No problem. There's always a tendency to fear the worst with these things, but they are normally easily resolved.
let me know how you get on.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
18/06/2014 9:36 am
Hi Mark,
just got of the phone with Apex and they could not have been more understanding or helpful! they understand that things were difficult at the changeover between companies which is when I was phoning.
They need my reviewed income and expenditure and have said they will not fail the trust deed. They have said hubby will not be discharged until it is paid, but they see that as both of us making extra payments towards this at the end of the trust deed term, because things are so tight here at the moment.
thank you for your reassuring words last night, they certainly made things easier until I could call them.
Really impressed with the lady at Apex really professional and on the ball.
Thanks again for all your help.
Lisa
18/06/2014 9:41 am
Hi LisaJane
No problem, always glad to help.
Glad it all worked out ok. These things normally do.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
18/06/2014 10:46 am
Hi LisaJane,
Things like this happen from time to time in Trust Deed's and normally there isn't too much of a problem as long as an agreement can be reached for the repayment of the funds.
It's only when someone refuses to repay the funds it can then become a problem.
It's good that things have been resolved and it's worked out ok.
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