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Scottish Trust Deed Forum
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Topic starter
21/05/2012 10:24 pm
A while ago I opened a bank account while I thought I was going to become self employed. Unfortunately it didn't work out ;(. The account remained open and I thought nothing more of it. I haven't worked in ages and family have been covering my contributions for me :(. I had the chance to earn some extra and used the account to have the money I earned paid in! I owed my family do much I didn't declare the money or the account. I am a bag of nerves and knew I shouldn't have done it but I really wanted to pay back my family. I'm now really worried I have tried so hard to keep my payments up even when I lost my job and now I'm freighters they will know about the other account and find my self in bother :(. This isn't me but I have been so down and depressed I just didn't know what to do and it felt good to give people back what they had given me :(. What's likely to happen ? 🙁 I would like to add that I didn't lie to the bank to open the account it's with same bank as my basic account has no credit and they are aware of my trust
22/05/2012 9:04 am
Have you assets to protect if you went bankrupt? How long have you been out of work?
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
22/05/2012 9:53 am
If your family have been covering contributions for you and you can back this up if required then I doubt you'd need to worry too much about the bit of money you had set aside (how much are we talking?).
You do really need to talk to your trustee though, if you are not working then they will need to take account of this - it may be that they will be willing to suspend your contributions for a while for example. Or as plastic daft says, you may be better off discussing sequestration with them as an alternative.
How long have you been in your trust deed for?
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
22/05/2012 9:56 am
Hi. I have some property and although it's in negative this is what's kept me going while I have only had a few bit of work here and their! And because of the rental income I wouldn't receive unemployment either
Topic starter
22/05/2012 9:58 am
Sorry I only have 8 months left and really don't want to risk upsetting anything and really want to avoid the bankrupt thing.
22/05/2012 10:27 am
So are your family able to help you make the remaining payments, Keating?
Even if this is the case, I would still advise your trustee of the situation and tell them that family helping you out with contributions.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
