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Scottish Trust Deed Forum
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Topic starter
12/11/2012 11:17 am
I opened up a bank account prior to my trust deed becoming protected. There was a 600 overdraft with this. I have had my Td for over two years now but i am struggling.with the overdraft charges etc. Would it be possible to add this debt to my protected trust deed just now?
12/11/2012 11:33 am
Hi stevie0398.
If you were actually overdrawn on the day that you signed your trust deed you should have made your trustee aware of this debt. It is included (the amount that you owed on that day) even if you didn't tell them, so let your trust deed provider know now.
If you weren't actually overdrawn on the day your trust deed was signed, and have built the debt up since, you cannot include it.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
12/11/2012 11:56 am
So its actually the date i signed the trust and not when it became protected?
12/11/2012 12:11 pm
I believe so stevie0398.
I'm sure one of our experts will confirm the position for you soon.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
12/11/2012 4:37 pm
I am surprised you were allowed an account with an overdraft?
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
Topic starter
12/11/2012 5:00 pm
So was i!
12/11/2012 8:10 pm
Hi Steve, yes it depends on if te overdraft existed at the time you signed your trust deed. All debt at that time is included, and any debt incurred after that is post trust deed debt, and you are liable for it. That is why it is best to have an account with no overdraft facility- its too tempting not to use it!!
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