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Scottish Trust Deed Forum
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Topic starter
11/10/2015 7:04 pm
Hello,
I'm in a Protected Trust Deed for 1.5 years now but it looks like i have to move abroad to look after my family there.. can I continue with the td in a eu country (but my income will be greatly reduced)? i remember reading about having to be a scottish resident to get a td started but do i have to remain being one for the duration? Also, would my having to move be a sufficient reason for asking for a settlement figure..? I do not have all the funds but selling my car and possible help from a friend will give me enough for the 2.5 years monthly payments that we agreed to..
any thoughts/advice??
thank you!
11/10/2015 10:32 pm
Welcome to the forum Helen.
There's no restriction against leaving Scotland.
In terms of changed circumstances and/or a settlement offer, these are things you'll need to discuss with your trustee directly.
When putting forward a settlement offer, remember that your trustee is obligated to act in the best interest of your creditors. This might involve agreeing a deal with you, but there's no general right for this to happen.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
12/10/2015 2:49 pm
Hi Helen
As Trust Deed Assistant says, there is no restriction to you moving abroad. However, there may be an issue with you settling your trust Deed early. If you signed your Trust Deed on or after 28 November 2013 then it must run for a minimum of 4 years, unless the debts, interest and fees are all being repaid in full.
It is possible that your trustee might be willing to come to an agreement over funds being paid in to cover what you would have been paying, but regardless of this the Trust Deed would not be able to come to an end until after the 4th anniversary unless it was signed before the above date.
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