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Scottish Trust Deed Forum
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Topic starter
18/06/2014 3:39 pm
Hi Folks,
I haven't been on the forum for a while and have been discharged from my TD for over a year.
My ongoing problem is a joint loan I had which was part of my TD. The creditor in question agreed a figure due at the outset of the TD in 2008 but has now reverted back to a previous amount which includes front loaded interest they say should have been included at the start.
We were aware my wife was solely responsible for the loan as it was joint, but can one of you clarify if we should accept this .
Should she be liable for the TD amount or the inflated figure.
Hope this makes sense.
Ralph
18/06/2014 3:53 pm
Hi Ralph.
My understanding would be that your wife's liability would be for the amount (and terms) specified in the original loan agreement.
Therefore, if you signed up to an agreement including front-loaded interest, I'd imagine this would remain owing I'm afraid.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
18/06/2014 4:01 pm
Thanks,
That's fine but I can't find the original agreement. More concerning is the fact neither can the b of s!
Do you think I should trust them at their word even though they can't show us what we were supposed to have agreed to in the first place, ?
Ralph
18/06/2014 4:29 pm
Hi Ralph
It will likely be the amount agreed in the original loan agreement as mentioned above, less any dividend paid in your trust deed.
I think you should keep on at the bank to produce the agreement as it will be difficult to enforce payment without this.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
18/06/2014 4:32 pm
I guess the flipside of this is that a lack of payment, whether the bank has a copy of the agreement or not, is likely to be reported to the credit reference agencies.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
