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Scottish Trust Deed Forum
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Topic starter
28/07/2011 1:52 pm
Hello,
I have a Protected Trust Deed, the 36 months are due to finish on the 30th of this month.
I was delighted about this, in the sense of not worrying about it anymore and getitng on with my life.
However, I received my Annual Review letter earlier this month, and they say I now owe them arrears.
Initially when I was doing my budget I was receiving more Child Maintenance, then this was reviewed and I had arrears to the value of approx £900, as confirmed at the beginning of this year. Since then, I had to scrap my car, I got £50 as had to get it towed away, my ex partner bought me a car to run around in, though my arrears have now jumped from approx £900 to £2400 approx (I dont have my lettr to hand) they say I owe them £400 for the car I scrapped, even though I only got £50 for it, and also due to other increase income, however, my income has actually decreased as my child maintenance when down due to ex's lack of work.
Can this happen? I had hoped to cancel my direct debit to them after the 30th and breath a big sigh of relief...
I shall look forward to hearing from you.
28/07/2011 4:01 pm
Welcome to the forum FozzieBear.
I'd suggest that you request a copy of the numbers they're using to work this out. There may be a discrepancy you can point out to them.
Was there a figure agreed for car equity at the start of the trust deed?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
28/07/2011 4:07 pm
We didnt agree a value at the time of the Trust Deed, as far as I can remeber, thought I will check my paperwork this evening. I was told that if the car was worth more than £1500 at the end of the trust deed, I would be told to sell it and the remainder going to them, is that right?
I know I did have arrears, though we finalised the amount of the approx £900 @ the beg of this year, and since then there have been no other changes to my circumstances, yes I have had work expenses for mileage etc, though have these expense forms as proof.
I do just want it to be over! I knwo that sounds bad, as my own doing re the debt, it worries me sick.
Topic starter
28/07/2011 4:10 pm
P.S. Thanks so much for replying, I really appreicate it.
28/07/2011 9:11 pm
No problem FozzieBear. Please let us know what you find if you get a copy of the numbers.
The car situation is odd. Do you have documentary evidence of the scrapping?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
04/08/2011 6:01 pm
I have spoken with my Trust Deed tonight, all 36 payments are now over, I now have to pay is the arrears that have accrued over the 36 months (which amount to approx £2000). My car was valuated with an online system, they use to check on its worth!
04/08/2011 6:16 pm
I'm glad to hear that the car issued has been cleared up FozzieBear!
Am I right in thinking that you're satisfied that this position with completing the trust deed is now fair and correct?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
04/08/2011 8:02 pm
Hi Fozzie
I accrued arrears of £350 and let my TD run for an extra 3 months to pay it off, have you come to the same arrangement with your company?
