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Scottish Trust Deed Forum
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Topic starter
27/12/2012 6:56 pm
I need some advice. I applied through a claims company for a PPI refund nearly a year before entering a trust deed.With the claims process held up in the courts for so lomg I didn't get the refund until after being in the trust deed. I hadn't declared this money(£4000 net after paying the claim company) The reason I did this was my daughter was getting married and in desperation for the money to pay for this failed to declare.I've got one more year of the TD to go and am worried sick what might happen.I received PPI claim forms from the trustee and one was for the account that I got the refund on.
I am happy to extend the Trust Deed for a period to repay this money, but am worried the trustee will not agree to this.
On top of that my wife is seriously ill at the moment and the stress of this wont help.
Can someone advise what to do.
27/12/2012 8:36 pm
Time to come clean with your trustee and see what they want to do.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
27/12/2012 8:57 pm
Welcome to the forum trustdeed2.
I agree with Paul. You're going to need to come clean.
The root of the problem is that this money wasn't yours to keep. Under the rules of the trust deed, which you voluntarily signed, it almost certainly vested in your trustee to be used to help repay your creditors.
Hopefully the trustee will choose to work with you to try to find an acceptable way for this money to be paid over now.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
27/12/2012 9:40 pm
Thanks TDA. I fully intend to write to the trustee to inform them of this. I'm just worried what might happen.
I'm currently paying £1400 and my wife £370 per month to the trust deed, and am into the last year, so I'm praying they will agree to me extending the trust deed by a couple of months to clear the PPI money.
27/12/2012 9:55 pm
I hope that happens trustdeed2.
It may be helpful that it will not necessarily need a long extension to make that possible for you.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
