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Scottish Trust Deed Forum
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Topic starter
10/10/2017 1:25 pm
I wonder if someone can help me with this.
I had an overdraft with Santander when I started my TD. Unfortunately this was not included in my TD. Due to various house moves, I never received anything from them and basically forgot about it.
I have now received a letter from Santander saying they have sold my debt to Cabot.
My question is this: my overdraft has been outstanding since 2010, is there a time limit on the debt? I've have googled it and some information suggests that the debt is unenforceable after 5 years in Scotland, 6 years in England, its basically written off. Is this correct?
Thank you!
10/10/2017 1:34 pm
Hi Neverendingstory.
If this debt existed when your trust deed began, it was included whether or not you made your trustee aware about it.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
10/10/2017 1:42 pm
Hi TDA
Thanks for that. So what do I do now? They won't have received any monies from my TD?
Thank you.
10/10/2017 1:46 pm
If you have the documentation about trust deed dates available, demonstrate to Cabot that this debt was covered by your trust deed.
That should sort this out pretty quickly Neverendingstory.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
10/10/2017 1:49 pm
Fabulous. Better go look for my Form 5.....
Topic starter
10/10/2017 6:25 pm
Just spoken to Cabot Financial. As Santander wasn’t made aware of my Trust Deed, I am still liable for the debt.
10/10/2017 6:41 pm
Hi.
Make a complaint then someone sensible there will identify they've got that wrong!
They really shouldn't make statements like that.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
10/10/2017 7:48 pm
Yes, Cabot are talking nonsense.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
25/10/2017 1:38 pm
Complaint lodged. Wait and see what happens now!
26/10/2017 8:49 am
Hi Neverendingstory,
As others have pointed out Cabot don’t appear to know what they are talking about. You are not liable for the debt.
I’m sure now you have lodged a formal complaint it will be resolved.
Let us know how you get on.
David is not currently posting in the Trust-Deed.co.uk forum
Topic starter
01/01/2018 9:15 pm
Lodged my complaint. Got a response to say that they had been in contact with Creditfix, who couldn’t confirm that the debt was included in my TD! However, as the debt went back to 2011, something about the time limit of the debt they are going to write it off. Result!
Sorry for the delay in the update but was buying a house and it seems to take 72 years in England!
Thank you for all your advice and Happy New Year.
02/01/2018 8:50 am
Hi Neverendingstory.
A good outcome for you in the end, even if the explanation provided by them is a little odd.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
03/01/2018 10:06 am
Glad that's sorted out. Happy new year to you too.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
