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Scottish Trust Deed Forum
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Topic starter
19/03/2012 8:58 am
Hi
My trust deed has come to an end in February this year and the only reason it is still live is to allow me to pay the £6000 I have equity in my house. Now I have agreed with my trust deed company that my sister is going to pay this off in November time when she has the funds to do this.
My questions is this. I receive car allowance at my work as I use my car for work. They will soon be taking this away from us and we will then get nothing however as a gesture of good will they are willing to give everybody on the scheme and one of payment. Now I don't think this will be that much probably in the region of £500 or similar.
My question is will my trust deed take this full £500 even tho my trust deed is finished and its now just waiting for the equity to be paid. This £500 would be beneficial to me as it will allow me to give this to my sister.
Thanks..
19/03/2012 9:22 am
Hi tompie1980.
I think you'll need to ask your trustee this question.
They may feel that it's better that they get the £500 now and that your sister pays over a lower figure of £5500 in November.
Alternatively they may be perfectly happy to stick to the agreed plan.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
19/03/2012 9:27 am
I would be happy with this and will contact my trust deed to enquire.
Thanks..
19/03/2012 11:09 am
If you have finished making your arranged monthly payments and there is an agreement in place for the equity figure to be paid over in november then I cant see why the trustee would be interested in this goodwill payment.
But it will need to be discussed with them.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
19/03/2012 9:38 pm
Hi tompie 1980.
Did the company you are with realise you while allowing you to deal with the equity at a later date, if so this is very promising for us.
19/03/2012 10:00 pm
Lorrainek, you would not be discharged from the Trust Deed until the equity is realised, even If you have stopped making contributions.
Shona is not currently posting in the Trust-Deed.co.uk forum.
Topic starter
20/03/2012 8:56 am
My trust deed is still live until I pay off the equity totally. I would love nothing more than to just pay it off but just cant until I get the money through from my beloved sister lol..
