Your offer was certainly significant goneunder, but the trustee is entirely entitled to demand the full amount that is due under the agreement.

Kevin asked a question in respect of that agreement at the start which I'm not quite sure has been answered fully in your most recent post. Could you expand on that?

tda
I needed a re-mortgage of £21000
After the lump sum i will have paid £13,000

So if the equity as identified at the start was £21000 and you are going to be able to keep ownership of your home despite paying less than that?

I understand that it the Trust deed did not work out quite how it was meant to, but is the outcome really that bad?

How much were your debts when you entered the Trust Deed, if you don't mind my asking?

Kevin
I guess I will only keep my home if I pay the lump sum and make a further year of contributions .
My problem is I am borrowing the lump sum and would need to start paying that off. I cannot therefore continue to make payments to the trust deed .
So I anticipate I could still lose my home .
As pointed out by tda the trustee has a responsibility to gather as must as possible but they also have a duty of care for the client . Would you consider that if I lose my home that the trustee has not shown a duty of care as they have allowed me to contribute for this length of time and still lose my home ?

Would you consider it appropriate to suggest to a client at the end of the 3 years that they would need to make contributions for another 6 years ?

Hi goneunder,

Like Kevin and I have previously asked, how much debt did you have when you entered into your Trust Deed?

I'm trying to work out how much debt you had to begin with and how much you have paid into the Trust Deed over the whole period.

It's hard for us to comment or give an opinion with little bits of information.

If I could understand the following it would make it easier for me to give an opinion:

1 ÔÇô How much was your total debt when you entered the Trust Deed?
2 ÔÇô How much will you have paid back in total if you pay your lump sum and then the 1 year extra payments?