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Scottish Trust Deed Forum
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Topic starter
20/09/2010 6:58 am
Good Morning,
I posted a question a little while ago about if I could move to England during my trust deed, which was answered very quickly 🙂
This is now becoming a real possibility for us and it looks like it may happen this year.
Currently IÔÇÖm employed full time where we live and although I plan to apply for jobs before we move I know that it may be tricky due to the distance involved.
My query then is what would happen if I quit my job here and moved to the new location without a job. As soon as we get there I would go round all the recruitment agencies and stores to see if I could get work straight away and earning. Then I would continue searching for the kind of work I want full time whilst earning money.
How is my trust deed likely to react given that I am effectively making myself unemployed? Will I get into trouble for this etc?
Many thanks in advance.
Annie
20/09/2010 9:04 am
Hi Annie2010
it's difficult to comment exactly, but there is nothing to prevent you doing this.
I suspect the Trustee will monitor this and if the job position isn't resolved in 2-3 months would most likely petition for sequestration.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
20/09/2010 9:34 am
Hi Annie2010,
A Trust Deed doesn't in any way prevent you from making personal decisions about your work or location or anything similar.
The interest of your Trustee is simply that you meet the commitment you made when you signed the Trust Deed.
If everything goes as planned it would seem that there would be no problem. However I guess you'll need to be open to the potential for sequestration if your job-hunting plans do not go as you hope.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
20/09/2010 5:58 pm
Hi Both,
Thank you for your replys on this matter.
It is comforting to hear that the Trust Deed can not prevent any decisions like this. I'm always worried that i am going to do something wrong that will have a negative impact on it.
I'm also just into my final year of my trust deed and would not like any problems so near the end.
My trust deed went up last year due to a change in job and higher earnings but that was stepping from one job straight into another.
Hopefully this may be as smooth a change.
If i did do this how much would i need to advise my trust deed and when?
Thank you once again 🙂
20/09/2010 6:15 pm
Hello Annie2010,
I think it would probably just be appropriate to keep them informed with your new contact details, and updated circumstances, as and when they change.
Obviously it's to be hoped that this all works out in a way that allows you to meet the final contributions to the Trust Deed and then put it all behind you.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
