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Scottish Trust Deed Forum
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Topic starter
05/06/2011 10:24 pm
I WAS IN A DEBT MANAGEMENT PROGRAMME AND WAS QUITE HAPPY THEY PERSUADED ME THAT A TRUST DEED WOULD BE BETTER, BUT i FEEL I WAS MISLEAD, I AM NOW IN A TRUST DEED WITH A COPY AND JUST CONSTATLRY WORRY ABOUT LOSING MY HOME, I WISH I HAD JUST CARRIED ON PAYING IN DEBT MANAGEMENT PROGRAMME IT WOULD HAVE TAKEN LONGER BUT I WOULD NOY HAEV BEEN SO STRESSED OUT AS I AM RIGHT NOW,CAN I CHANGE BACK[V]
05/06/2011 10:30 pm
Hi terrimac
Unfortunately no, however if you have any fears you should speak with your trustee who can hopefully put your mind at rest.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
05/06/2011 11:05 pm
Hi Terrimac.
What's worrying you in connection to your home?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
07/06/2011 10:17 pm
Originally posted by Trust Deed Assistant
Hi Terrimac.What's worrying you in connection to your home?
they have said that even after my 3 years I will still be liable for at £14500, and will need to find a lum sum, which the only way I will ever be able to raise atht amount is to sell my home, which means all this struggle will have been for nothing, even before I went into Debt management I was payinh all my bills and did not have much left at the end of each month, I never missed a payment, I thought my starting all this it help but I was never at threat of losing my house before,]
07/06/2011 10:56 pm
Hi Terrimac.
There certainly are a lot of difficulties attached to releasing equity in the current lending environment, something anyone with equity in their home needs to carefully consider before signing a trust deed.
I think anyone that provides advice on trust deeds needs to acknowledge this and make sure their clients are in a position to make an informed decision based upon the current reality.
How long does your trust deed have left to run?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
21/06/2011 11:19 pm
18 monyhs
22/06/2011 10:36 am
Hi Terrimac.
I'm sorry to hear that you are so worried about this.
There have obviously been a number of threads on the forum recently where people seem to have been unclear about the commitment that they were making when they signed a trust deed.
Was the subject of equity discussed with you before signing the trust deed?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
