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Scottish Trust Deed Forum
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Topic starter
22/10/2010 11:39 pm
Can anyone tell me what happens if there are too many objections to a trust deed becoming protected?
Also what is the "evidence" needed for an objection to prevent a trust deed becoming protected?
My last date for objections is today - i know there are objections for my husband and myself but thats about all i know until Monday after the "review"!
23/10/2010 11:10 am
Hi simps
The normal course is to petition for sequestration.
If more than 50% in number or more than 1/3rd in value of the debts object, then it will fail to become protected.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
23/10/2010 12:48 pm
So if it fails to become protected then what?
Also what grounds can the creditors use to object?
23/10/2010 1:44 pm
Sequestration (Bankruptcy) is the procedure which follows an unprotected Trust Deed.
It can fail on several things normally the trustees fees are too high or dividend is too low.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
24/10/2010 10:35 am
Hello simps,
I do hope that you receive the answer that you are hoping for. Please let us know.
The vast majority of trust deeds do become protected; the experts on this site talk about the percentages involved for their companies in their interviews on the main menu here.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
