Hello werdna and welcome to the forum.

Firstly let me say I'm so sorry to hear that your job is coming to an end after fifteen years of work. It must be incredibly frustrating for you.

The point of a Scottish Trust Deed is, in some ways, to balance the needs of a debtor and their creditors in a situation that is no longer sustainable.

Accordingly when a redundancy settlement is paid my understanding is that the statutory element is retained by the person in the Trust Deed to provide some breathing space and provide an opportunity for the individual to find new work. I think this is a subject that Kevin wrote about recently and hopefully he or one of the other experts can confirm the position.

If this is correct any additional amount, payable as a result of the employment terms of the individual concerned, is payable to the creditors who have already agreed to accept a sum less than the amount originally owed to bring the debt to a conclusion for all parties.

I think that not declaring your redundancy to your Trustee is fraught with risks and exposure for you.

I'm interested to see the views of the site experts when they get the opportunity to respond. My first thoughts however are that it will probably be best to be open and forthcoming with your Trustee so that it's a challenge you can work on with them, rather than against them.

You must tell your trustee about the redundancy I'm afraid, werdna. If you didn't you would be breaking the terms of the trust deed and could face sequestration instead, or the protection being removed from your trust deed leaving you at the mercy of your creditors again.