Welcome to the forum worriedone.

The chances are that the trust deed was failed and you became liable for the debts again. There are other possibilities however. To find out for sure you might have to go back to the trust deed provider you chose and enquire with them.

If this is the case, and the creditors haven't been in touch with you for more than five years, these debts may no longer be enforceable,

Hi

Thanks for the quick reply!

I will call them today to see if they can shed any light!

What a ridiculous situation to get myself in!!

Hi again!

Just before I call KPMG I'm a bit concerned that I will be opening a can of worms and re-activating these old debts?

Well... I suppose it is possible that you'll be opening a can of worms to some extent? You don't know what you're going to find out worriedone.

In terms of your second point, I think the key point is not to acknowledge to an actual creditor that money is due to them (if you intend to rely upon debts having become or becoming unenforceable).

Why not just try for the mortgage first and see what happens? If you are going to get refused then it will happen either way if you phone up about the can of worms or not. If get accepted then worms remain in can buried in a pit of hell never to be opened!

Ok so I found a letter which stated my trust deed was signed on 11/06/03.

The letter was dated 25/09/08 and basically said as the trust deed had been unsuccessful and was over 36 months old in the circumstances it would not be appropriate or cost effective to recover the outstanding contributions or petition for my sequestration.

It was also requesting the creditors consent for discharge of the trustee.

I called KPMG to check what my discharge date was and they said 25/11/08. This was only two months after the trustee discharge letter?!? I thought it took a while to do this? I also checked with the accountants in bankruptcy and they also had the date as 25/11/08.

Does this mean I am free to live as this was 6.5 years ago? Also can future lenders still see that you were part of a trust deed or once it is no longer on your credit file is that it??

Thanks

Hi worriedone.

If any of these companies have contacted you about the debt in the past five years then the debt will remain enforceable.

If you've made any payment on any of these debts in the past five years the same will be the case.

Six years after your trust deed began it should have been removed from your credit file.

The details of your trust deed will remain discoverable on the Edinburgh Gazette.

Some creditors might have access to their own records about insolvencies which they've retained.

If you're asked about whether you've ever been in a trust deed (or insolvent) in a credit application you'd be expected to answer truthfully.

If the Trust Deed was signed in 2003, then the rules were different.
I don't think that there was a specific discharge for the person - just that when the trustee was discharged, so was the person in the TD.

But I'm pretty rusty on the old rules!

It would be good to hear from the experts on this one.

That's right, candlewick. Apart from petitioning for sequestration, back then there wasn't really a mechanism for closing a Trust Deed without discharging the person from their debts at the same time. So it sounds to me like you were discharged, worriedone, and there shouldn't be any reason to worry unduly about it causing you difficulties now.

That's interesting Kevin and candlewick.

So at that time the trustee, when dealing with a trust deed that wasn't working out, could either sequestrate their client or choose to discharge the client from their debts (just as if they'd successfully completed the trust deed)?

Or do neither and just keep the trust deed running I suppose.