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Topic starter
01/12/2012 2:15 pm
Hi all..
I,m 2 and a half years into my PTD. Up until a couple of months ago I couldnt make the monthly payments.
Theres been a lot going on with my finance but to cut a long story short I,ve just received a letter saying I my PTD has now failed to become protected and I am in the process of lodging a petition for sequestration.? It also says sufficient objections were received. To my understanding all this was delt with when i entered the trust deed..? How can this be.?
Last time I spoke to my IP she said whatever contributions I was not able to make, my PTD would just become extended to make up for it.
As I,m due to come out my PTD in FEB next year and return to employment I didnt thik I could be sequestrated.??
My father also offered to pay the final contributions which my ip rejected.
it seems a shame coming all this way to nearly coming out of the TD to be made bankrupt.
I,m now totally confused.
thanks for reading guys..
01/12/2012 2:26 pm
Hi materialgirl.
Could you confirm a few things please?
I think your trust deed became protected 2.5 years ago?
How many payments have you made, and how many have you not paid, during that period?
When do you expect to return to employment? Is there a specific reason that you haven't been in employment?
What are some of the things that have been going on with your finances?
How many contributions did your father offer to pay?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
02/12/2012 1:20 am
saturday isnt a good day to receive letters like this..lol.
I dont know if you can see from my previous post its been an ongoing situation.
I return back to work feb 2013 which i explained to my IP. she said any missed payments from PTD will just put the TD on an extension to make up payments.
I,ve made about 30payments 6 still to go. My dad did say he would help me pay off the remaining balance but when I put this forward to my IP she said it wasnt allowed.
02/12/2012 12:23 pm
From the information provided we'd just be guessing what the reasons for looking to sequestrate you are materialgirl.
I think you should ask your trustee on what basis they have made this decision.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
02/12/2012 2:02 pm
I,m guessing its due to the missed payments? Or i could be wrong?
I can only phone tomorrow an see where i,ve gone wrong.
Thanks for ur help.
02/12/2012 2:54 pm
I would think so materialgirl.
With communication and approval a couple of missed payments may be allowed.
Where that becomes extended, perhaps without approval, the scenario could change.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
03/12/2012 10:00 am
I must admit I am a bit confused that you have had a letter saying that you have had sufficient objections and your trust deed has not become protected..... 2 1/2 yrs after it was signed!? I think that you do nee to get this clarified with your trustee.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
03/12/2012 3:09 pm
Hi..
I called my IP today. She said the letter that was sent was a complete mistake.
The original letter that was suppsed to be sent to me was just to say someone has left the company.
Its all been a misunderstanding from my TD company who apoligised and my PTD is fine.
Thanks for reading anyway.
03/12/2012 3:11 pm
All that worry over an admin error!!!!
Not good, but pleased it's sorted out for you
Saabrina
