Notifications
Clear all
Scottish Trust Deed Forum
4
Posts
2
Users
0
Reactions
752
Views
Topic starter
11/05/2021 12:14 pm
Hi all,
I was just speaking with my wife about our PTD.
We have a 6 year term with our trust deed (own two properties with equity). Is it safe to assume that the 4 years is paid to the creditors and the last two years gets paid back to the trustee to pay the equity?
Once the 4th year has been legally completed is it fair to say the remaing two years are paid to the trustee and not the creditors?
Many thanks,
Bmc
11/05/2021 12:21 pm
Hi BMC,
This isn't really correct.
All of the contributions made into your trust deed add up to a single pool of funds that will over time:
Firstly, cover your trustee's fees and outlays.
Secondly, pay a dividend (the remaining funds) to your creditors.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
11/05/2021 12:35 pm
Hi TDA,
I didn't know that and glad I asked the question. Seems to be alot of things not made clear. I truthfully did not know this and that very surprising.
If I had known this, I would have negotiated with the creditors directly.
Bmc
11/05/2021 1:56 pm
Why would this have led to a different decision BMC?
I'm not picking holes in what you're saying, I'm just genuinely curious to understand.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
