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Scottish Trust Deed Forum
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Topic starter
05/11/2013 11:26 am
Hi Guys
I have couple of queries that hopefully you can help with
My Trust Deed appeared in Edinburgh Gazette last Friday (1st November). I was wondering how quickly things normally move from there to Creditors becoming aware and on to (hopefully) protected status?
Secondly, one of my main creditors are Clydesdale Bank (other being Birmingham Midshires) and my old account with them (which was near overdraft limit as i had moved almost all funds into new account) initially showed loan payment as being added to it over weekend(taking it well over overdraft limit), before today showing as it did pre-loan deduction. Both loan and overdraft are part of trust deed.
I'm unsure if this is just glitch with system or if Clydesdale would have removed it after becoming aware of trust deed and/or receiving word from my trustee. The loan amount has been removed from balance but still shows in Direct Debits (for date of 4/11/13).
05/11/2013 11:36 am
Hi Delboy69
The circular will normally be sent within 7 days of the gazette advert and the 5 week period commences from the date of the gazette ad, not the signing date.
All creditors will be required to calculate the debt as at the date of signing, so there will be adjustments to some of the figures, once they have details of the Trust Deed. Nothing to worry about though.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
05/11/2013 12:11 pm
Thanks Mark,
Had been slightly worried about possible disparity between totals at signing and current figures.
Can relax a bit now. And await the inevitable phone calls!
05/11/2013 12:37 pm
Hi Delboy69
No problem. The signing figures will always change once the final figures have been calculated, as the statement is only estimated at that stage.
If you receive any calls, best refer matters to your trustee to deal with. It should go quiet very soon though.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
