Nothing stops you taking on further debt in a trust deed. Are they being paid?

Paul

Hi yes they are still getting paid. But my ex partner pays it.

Thanks

Hi emma99

Try not to worry, there is no law against taking further credit whilst in a protected trust deed. Trustees often take a dim view of it as any spare money that you available after living costs are met should be being paid into the trust deed, but if your partner is making the payments then I don't see why this should be a problem.

Hi hopefully it will be ok it is 2 credit card with £4,500 for each.

Thanks for advice.

Hi emma99.

Are they both definitely debts from after you signed your trust deed?

If so, why not ask them why they're intending to breach your privacy by informing your trustee when you've not broken any rules?

Hi well I had the credit cards before the trust deed started but did not use them till after. It was my ex partners debt. One of the companies says they have to legally inform the trust deed about it.

Thanks

Hi can they do this if they are in breach of privacy.

Thank

Hi.

Could you ask them why they're intending to inform your trustee and tell us?

Hi emma99

There is no legal requirement to notify the trustee of this. You should ask in terms of what legislation the requirement falls under.

As it is a new debt, you will be responsible for anything post trust deed, so I'm not sure why this is an issue for them.

Mark

I had a credit card with santander last year, well into my trust deed (didn't actually ask for it but that's another story) and they stopped it without warning because apparently you can't take credit when in a trust deed. I argued this with them but they said that that was the advice that they had - Is this wrong then?

Sorry for the hijack!

Hi Claree I can not use the credit on the card it was a couple of years ago I put the debt on it.

Thanks

Hi Claree_x.

This gets confused often. Bankruptcy would mean that you cannot take on credit. An IVA elsewhere in the UK would normally at least limit your use of new credit. A protected trust deed doesn't.

It's still generally a bad idea though (as we read so often here).

I'd imagine the card issuer cancelled it in this instance because they would not have offered you credit if they'd been aware of the trust deed.

Hi they are going to give me a decision by email at the end of the week if they are going to inform them. If they are I am going to ask why. Cause the payments go in on time had my ex partner has never missed a payment.

Thanks

Even if they did tell them, I don't see why it should be a problem, as long as your partner is the one servicing the debt.