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Scottish Trust Deed Forum
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Topic starter
05/09/2014 3:52 pm
Hi,
Does anyone know where I stand with this situation...
As part of my trust deed, one of my creditors was the bank that I have my current account with. My trustee has agreed that I can keep a small amount of money in an ISA for emergency situations. Are the bank allowed to with hold the money that would be in my ISA as they were a creditor?
Thanks in advance.
05/09/2014 4:31 pm
Hi Trixie1980.
Personally, I'd put any emergency savings in an account with a bank that isn't connected to my creditors.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
05/09/2014 5:17 pm
Me too - just in case the bank did try to set off the funds against their debt. They shouldn't do so, but why tempt fate?
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
05/09/2014 5:46 pm
Thanks both, I'll do that!
08/09/2014 8:47 am
Hi Trixie1980,
I always advise my clients to stay away from a bank which they have had debt with in the past.
No point risking any problems further down the line with your emergency money.
David is not currently posting in the Trust-Deed.co.uk forum
