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Scottish Trust Deed Forum
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Topic starter
18/08/2011 5:04 pm
Hi Mark and others,
I have spent the last week or so doing a lot of number crunching and with reference to my last posts regarding a trust deed i really dont think i would have any disposable income to pay towards it , very worrying, i know it depends on a lot of factors with outgoings,minimus spends etc but i will probably contact you soon Mark but i dont want to waste your time when you will most likely find that you cant help me with a trust deed because of the latter,there is also a loan or 2 also very recent and most likely not become protected because of that however my main point is still my non disposable income. my question is if you cant help me with a trust deed i will have to go down the unfortunate sequestration route, what would happen there? i.e can you go through it with me etc or would you point me in the correct direction as i need help big time, im stressed out all the time and is not fair on my nearest and dearest. please help!
18/08/2011 5:28 pm
Hi stressedout.
I'm sure Mark will reply soon when he next gets chance to visit the forum (he's on the road quite a bit visiting clients).
A lot of the worry that you have seems to be based upon the uncertainty of not quite knowing where you stand. I think that the sooner you take professional advice the sooner you'll feel some relief by being in a position to make some informed decisions.
My colleagues in the site advice team will be happy to work things through with you; I'm sure that the same is the case for Mark and his team or the Money Advisers at your local CAB or Local Authority.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
18/08/2011 5:48 pm
Thanks Tda i need to get going. i know with reading a lot of the posts previously that there is a lot of companies that dont charge the 500 on a trust deed but is it the same with sequestration or does the 500 always have to be paid to keep any future equity out of the scenario?
many thanks
18/08/2011 6:05 pm
I don't think that £500 necessarily needs to be paid in sequestration stressedout.
Best to wait for confirmation from Mark, Kevin or Shona though.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
18/08/2011 7:35 pm
Hi stressedout
Sorry for the delay, was at court most of the day followed by a 130 mile round trip for a meeting and just back.
No problem re the info, just give me a bell and I'll run through matters.
On the £500 question, you will need to appoint the Accountant in bankruptcy in sequestration and they will either do it themselves, but most likely farm the job out to agents. You are therefore at the mercy of the IP who they pick I'm afraid, so the £500 may be at their discretion.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
19/08/2011 9:35 am
Hi mark,
regarding court and 130 mile round trip,hee hee I'll let you off LOL.
My wife will not be involved in trust deed/sequestration as she has no debt and doesnt work as she is a stay at home mother , if i had to pay the 500 on sequestration would it be just myself or 500 for both of us?
thanks Mark
19/08/2011 11:00 am
Hi stressedout.
Your wife would not need to pay £500. Her share of any equity that exists is hers even if the worst case scenario were to arise.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
