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Scottish Trust Deed Forum
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Topic starter
02/03/2012 10:00 pm
Can anyone advise what is the maximum term for a TD? I have to clear just under 15000 equity by July next year, unsure yet how am going to do it. I have offered mpnthly payments of 500 per month from now till then, but that only pays off 8000. I have received a letter from the trustee saying it must be settled by July 2013, ill be in the TD 5 years that point. Am worried he may sell my house as he is already in the process of uplifting the vehicle to sell it, so unsure what he'll do.
Any suggestions welcome...
02/03/2012 10:06 pm
Hi Dollybee.
I understand the length of time to deal with the equity at the end of a trust deed is at the discretion of a trustee.
We've often seen the figure of one year being mentioned here, but we've also seen examples of people who have been able to agree longer periods than that.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
05/03/2012 10:49 am
Trust deed assistant is right - there is no set time period allowed, it is up to your trustee (though he/she may well seek the opinion of your creditors before agreeing anything)
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
