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Scottish Trust Deed Forum
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Topic starter
22/06/2017 1:38 pm
Hi,
wonder if someone could help, i have been in a trust deed for over 2,3/4 years and i have been told i can take a Lump Sum out on a pension from a former employer that has went bust...
is the trust deed entitled to take it all from me ?
some of it or all... i can leave it until retiral age but want to know what my options are...
With Thanks
22/06/2017 1:58 pm
Welcome to the forum SMc.
You certainly shouldn't do anything without getting sufficient reassurance from your trustee about what will happen if you do.
I suspect drawing this lump sum would be seen as additional income and therefore make an additional amount due to your trust deed.
It may therefore be the case that you'll want to leave the funds where they are until after you have been formally discharged from the trust deed.
Best to get in touch with your trustee at this stage I think so that you know where you stand.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
22/06/2017 2:01 pm
ok thanks for this information i will of course contact my trust deed to see what info they can provide.
Thanks
22/06/2017 4:29 pm
I'd agree with Trust Deed Assistant - there is every chance that any funds you draw down could be at risk.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
