Notifications
Clear all
Scottish Trust Deed Forum
2
Posts
2
Users
0
Reactions
2,228
Views
Topic starter
06/08/2014 5:13 pm
Hello everybody,good news made final payment of td,BUT what I would like to know is,Iam required to sign a tax rate declaration a pre-discharge declaration and an undertaking,which means to give them permission to chase ppi and also that when Iam discharged I shall have a continuing obligation to cooperate in pursuing the recovery of all assets due to the trust deed and immediately inform them of any funds received through ppi,surely when you sign up it is calculated what you can afford and agreed,so all payments made BUT it seems they still want more from you,Ithink the TV advert must be misleading,that you can be debt free in 3yrs,can I have answers to this and Iam legally bound to sign these papers
06/08/2014 5:50 pm
Hi johnd.
Congratulations on reaching the final stages of your trust deed.
Some of the advertising of trust deeds has been subject to criticism by the Advertising Standards Agency. However, once you have been discharged you're no longer responsible for the debts that were included.
Your assets vested in your trustee when you signed a trust deed. One of those assets was the potential to claim back PPI to help repay more of what you owe to your creditors.
Your trustee is offering you the chance to be discharged provided that you support their work while the PPI process carries on.
I suppose you could choose not to offer this support. In that case I'd assume that your trustee would refuse to discharge you until they'd completed it anyway. Which could take months or years.
It's not really that they want more from you. It's that they have a statutory duty in this respect to investigate whether PPI can pay back more of your debts as a result of you having appointed them.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
