new legal action

elmo · 2010-07-12T22:24:35Z

hi there, I signed up for a trust deed about a year ago, and due to a couple of spells of not workng i've only made about 6 or 7 payments into it. my IP has been very understanding and granted me payment holidays. I've got until August to find employment or he will go for sequestraion which i understand is the norm. I have no assests etc of any value and i rent my flat from the council. i have a couple of questions though and hopefully someone on here can help. i have a debt with another company (not included in my trust deed) for a couple of hundred pounds that i was also making payments too. Unfortunately they have refused my requst for a payments break and want full and immediate payment or they will take legal action. Is this something that i need to flag with my curent IP? Does it really matter if it's my IP or this other company that make me bankrupt? I also have an o/draft with my bank (not in trust deed) for around ?é£1,000 which i'm told would be included in any bankruptcy proceeding? Any help would be appreciated. Not sure if i should pass on the letter about this legal proceeding to my IP as it wasnt part of my Trust Deed?

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elmo

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Joined: 15 years ago

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Topic starter 08/06/2011 12:40 pm

Thanks Kevin,

I'll try that and let you know the outcome.

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