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Scottish Trust Deed Forum
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Topic starter
04/03/2013 1:44 pm
Hi, I am lookingfor some advice,my partner and I are both in trust deeds, we both work full time, however my partner suffers from depression and I have an illness, my partners depression has got worse over the last few months and he has been off work however we have still paid our contributions, I am worried that his situation will worsen and he will be off long term sick, my illness has been playing up again with the stress.
We have 8 months left of our trust deed and a fmily member has offered to pay the remaining payments and any fees, when I called I was advised by the relationship manager that this would not be possible, that I would have to pay the full amount owed to the creditors and any fees,but if I was to wait until april or may I then may be ableto come out early as my final review would be completed then. Is it not possible to come out the now?, am I speaking to the right person? should they not put this towards the creditors?, should I write a letter to the Trustee?
04/03/2013 2:52 pm
It is really up to your trustee, 1234. WHilst many trustees are happy to put this kind of proposal to creditors - especially if there are good reasons to do so, such as health concerns - they are under no obligation to do so. You signed for a set period and they can hold you to that if they wish.
Might be worth trying to speak to someone more senior, or the trustee himself/herself as you might be able to persuade them.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
04/03/2013 3:16 pm
Hi 1234
I think the manager who dealt with you has the wrong end of the stick. There is no reason at all to have to pay the debts in full plus fees etc. He seems to be confusing an offer to settle all debts in full and an offer to pay the remaining contributions.
Some firms never cease to amaze me!
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
04/03/2013 5:53 pm
I agree there seems to be a misunderstanding here. If the remaining contributions are to be made by a 3rd party either via contributions or a lump sum, then either way this is not to the detriment to your creditors and there for does no way prejudice them. I would call again to clarify or clearly state your proposal in an email or letter. In my eyes there is only a benefit here, as remaining contributions may be paid earlier.
Rob is not currently posting in the Trust-Deed.co.uk forum.
04/03/2013 5:55 pm
Just to confirm make it clear you have a third party to pay your remaining contributions, not to pay off creditors as they may think you wish to pay everyone off in full.
Rob is not currently posting in the Trust-Deed.co.uk forum.
Topic starter
05/03/2013 9:53 pm
Hi, thanks for your help, do you think I should send an email to the trustee direct, explaining the circumstances.
Would it be possible for my fnal review to be done any quicker?
05/03/2013 10:10 pm
I would email to clarify the position yes. If there is a possibility they can pay the balance early then the may conduct a early review.
Rob is not currently posting in the Trust-Deed.co.uk forum.
