Notifications
Clear all
Scottish Trust Deed Forum
4
Posts
4
Users
0
Reactions
1,394
Views
Topic starter
08/03/2013 9:50 am
Due to ill health and being off work over several periods I failed to keep up my payments on my trust deed. Am I able to become bankrupt?
08/03/2013 9:52 am
Only if your trustee does it, meg1957, or if they terminate your trust deed first so that you are then free to apply for sequestration yourself.
Either way, you need to discuss it with them.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
08/03/2013 9:52 am
Hi Meg
There are only 2 option. The first is that the Trustee petitions for bankruptcy and the 2nd is that he discharges himself from the Trust Deed and that would allow you to petition. Unfortunately there is not a 3rd option available.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
08/03/2013 10:01 am
Hi meg1957,
Sorry to hear about your ill health.
Did you keep you your Trustee up to date with the change in your circumstances? How many payments do you think you missed and when was your Trust Deed due to finish?
Depending how many missed payments you may be able to get back on track with your Trust Deed but the feeling I get is that you have missed quite a few so this may not be possible.
Best get on the phone to your Trustee and speak with them about possible options available to you.
Chris is not currently posting in the Trust-Deed.co.uk forum.
