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Scottish Trust Deed Forum
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Topic starter
22/03/2012 9:04 pm
What will happen if you have entered into your trust deed which is not yet protected and you use a sum of money from your overdraft? Will this be covered by your trust deed or not? Thank You
Elaine
22/03/2012 9:09 pm
Hi again Elaine.
I believe that the debts which form creditors of your trust deed are just those which existed on the date that you signed it.
I'd suggest much caution about borrowing more if your trust deed is signed.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
22/03/2012 9:10 pm
Hi Elaine
Debts are calculated to the date of signing, not protection. Any debts incurred after signing, you will be liable for.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
22/03/2012 9:14 pm
Thank you. The account was a joint account at the time the trust deed was signed and my ex partner had to borrow the money to pay off the overdraft to enable the account to be de-joined so after the account was seperated I needed to take the money back out to pay back the person that lent the monies. So will this mean that I am solely responsible for this debt?
Elaine
22/03/2012 9:23 pm
Hi Elaine
Yes, if the sums were taken after you signed the Trust Deed.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
22/03/2012 9:28 pm
Yes you will be liable, it is a post trust deed debt.
Shona is not currently posting in the Trust-Deed.co.uk forum.
