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Scottish Trust Deed Forum
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Topic starter
22/02/2013 12:34 pm
hi folks i have been in my deed for about 8 months now and have met all my payments as and when required. however i have a problem. My mum died in november 2012 and she had no money for a funeral for her. I had to borrow money (£3000) from a very good friend to pay for the funeral cost and the cremation. however i have agreed to pay my friend back at £200 a month the same as my deed. i am badly struggling to pay him back what with my mortgage, council tax and other essentials every month that most people pay. is there any way that i could notify carrington dean and let them be aware of the situation and maybe they could help me out a bit? I can and will pay the deed on time but paying my friend back is crippling me badly. he is cool abou how much per month and when the payments are made but he helped me out in times of desperation and a debt is a debt. what can i do?
22/02/2013 12:47 pm
Plaxton Panther,
I am really sorry to hear of the death of you mother.
I fully understand why you had to borrow funds to cover the costs of the funderal. my advice would be to contact CD and be honest with what has happened. Technically your friend is being preferenced over the general body of creditors taking part in your deed but as long as you are making payments to the Deed that is the main thing.
Perhaps you could ask for your contribution to be slightly reduced but the term extended to make up arrears at the end? Also you could ask your friend to do the same and reduce paymenets to him?
Rob is not currently posting in the Trust-Deed.co.uk forum.
Topic starter
22/02/2013 12:53 pm
will have a word with both of them and see what happens. i need to do something asap
22/02/2013 1:02 pm
The fact is you can not afford to do both. You have made an obligation to yout Trust Deed and you creditors and i am sure you would want to see this through. However, the circumstances involved you had no choice to borrow the money. I think both parties would be flexible and hopefully a lower payment to both would work over a slightly longer period. Its either that or your friend agress to wait until the Trust Deed is complete and then you use all the money freed up from not having to pay a contribution to pay straight to him.
Just be honest and that makes it easier for everyone to help you.
Rob is not currently posting in the Trust-Deed.co.uk forum.
Topic starter
22/02/2013 1:26 pm
cheers. will ask my friend if we can come to better deal that suits both parties.
