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Scottish Trust Deed Forum
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Topic starter
09/02/2010 9:03 pm
made a mistake on the first one sorry it should have read - i pay my trust deed ?ú170 a month the problem is my wages have been cut by ?ú155 a month i cannot pay trust deed they have said there is no other choice but to go into sequestration how do i pay that each month when i cannot even pay the trust deed every month
09/02/2010 11:06 pm
Hi there
In a sequestration you should not have to pay more than you can afford - many people do not make any contribution from their income when sequestrated if their income is sufficiently low.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
09/05/2010 11:03 pm
i have not entered sequestration due to the fact that ny trustee wants me to pay the ?ú280 start it i have read the forums and u said it is up ti the trustee to pay this my trustee is going to resign if i dont pay if they do resign what can i do next
10/05/2010 10:11 am
According to the guidelines that insolvency practitioners are meant to follow the trustee should only resign in the event that you are not cooperating in your trust deed - not merely due to a change in circumstances. I can't see how they could justify the position that you are not cooperating with your trust deed just because you cannot pay the cost of them sequestrating you. If they feel that sequestration is in the best interests of your creditors then they have a duty to pay the cost of the court action seeking this.
I would ask them to put in writing to you on what basis they can justify resigning as your trustee, ie in what way are you not cooperating with them. Your circumstances changing and you no longer being able to make the payments is not sufficient in my opinion.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
