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03/03/2016 10:56 am
hi there am looking for some advice, my ex husband and I have both been in a separate trust deed which comes to and end soon last payment Oct 2016. My ex is now asking for a divorce only problem is we still have a house in joint names... the property has negative equity and we are also in arrears due to him not been working much so not able to help out. because property was bought way before trust deed started I have been told that I can hand keys back before end of trust to avoid further debt which will occur if hand keys back after trust is closed.
can someone please advice what to do or what options are available I have 2 children so don't want to just hand keys back right away as need to think of my children.
03/03/2016 6:24 pm
Hello marieh and welcome.
My initial suggestion would be to discuss this intention with your trustee at this stage before taking further action.
You will want to know what (if any) consequences there might be for your trust deed if you made this decision.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
03/03/2016 10:34 pm
Trust deed Assistant is right. If there is a shortfall on a mortgage being added in to the trust deed then other creditors' returns would be diluted. Your trustee may feel it would be necessary to extend your trust deed further in that circumstance
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
04/03/2016 8:54 am
Thanks for advice I will get in touch with my TD and ask there advice on the matter.
