It baffles me how it has come to this situation to be honest, IM. It sounds like the payment problem might be incorrect account details on the standing order, which should be a simple enough one to rectify. What did manager at the trustee firm say to your relative?

Where are the funds now? I guess your relative didn't put the money aside each month when it bounced back?

Also, you say his wife owns the house - do you mean they own it jointly together? Sorry - lots of questions, but just need to clarify a few things.

It sounds like the wrong account details on the standing order mandate Invisible Man which is why the payments have probably been bouncing back. For this to happen for the last two years does seem a little unusual. We monitor all of our cases carefully each month to make sure clients pay as if they don't then we are required to notify creditors with the reasons for non payment and what further action the Trustee has taken in respect of the missed payments.

An issue like this wouldn't breach the contract and it wouldn't then nullify it either.

If the property is jointly owned and there is equity then this needs to be realised. If the property is solely owned by his wife then I'm not sure where the TD company is coming from.

Trust Deed's normally run on the basis that a person agrees to make monthly payments for a set period which used to be 36 months and is now 48 months. If they had any assets i.e. equity in a property or a vehicle then at the end of 36 months they would extend their payments to pay over the equity in the asset.

Kevin asks some good questions. If you could find out the answers to those and let us know we can then give some more advice.

Thanks for responding, gents.

The payments had been accepted for years prior to that then starting bouncing back.
I don't know whether they have saved the money or not, unfortunately.

They had contacted the manager and their colleagues many times to inform them and the advice was that the form in question would investigate and revert back to them. I believe that this has never happened despite several requests.

As mentioned, they had chosen to exercise the monthly payments until the agreed sum was repaid however the firm in question are now emailing him to pressure him to have his wife remortgage. I believe that she owns the property and has the mortgage although they jointly reside in it. Whether there was a joint mortgage previously, I do not know.

Thanks.

Hi Invisible Man.

If your relation's wife can demonstrate that she owns the home (and did prior to the trust deed beginning), to her husband's trustee, there's not likely to be an issue here in terms of releasing equity.

A joint mortgage isn't really relevant. A mortgage does not signify ownership necessarily.