sequestration oblig...
 
Notifications
Clear all

sequestration obligations

7 Posts
4 Users
0 Reactions
1,293 Views
(@pingpong)
Estimable Member
Joined: 13 years ago
Posts: 128
Topic starter  

Sorry for posting here but you guys seem to know everything.

If you have been sequestrated and discharged after 12 months, what obligations do you have for the next two years until the trustee discharge themselves.

are you requred to make contributions if you get a job and your income exceeds the national minimum wage for a 40hr week for example?


   
Quote
TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Hello pingpong.

Had/have you been making monthly contributions during the first twelve months?

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
ReplyQuote
(@pingpong)
Estimable Member
Joined: 13 years ago
Posts: 128
Topic starter  

No due to not being employed or receiving any benifits. only had to pay own portion of equity in the house, lumps sum paid by a third party and agreed by trustee


   
ReplyQuote
TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

I think that's probably the end of it for you then pingpong (assuming that you have already been discharged).

Hopefully one of our experts can confirm.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
ReplyQuote
Mark McFadyen
(@mark-mcfadyen)
Famed Member
Joined: 17 years ago
Posts: 4798
 

Hi pingpong

In general it is to co operate with the requests of the trustee for information etc which lasts beyond the 12 month discharge.

Mark

Mark is not posting regularly in the Trust-deed.co.uk forum.


   
ReplyQuote
Kevin Mapstone
(@kevin-mapstone)
Member Admin
Joined: 17 years ago
Posts: 4253
 

You will have been discharged after 12 months pingpong and that is that. It doesn't matter if you start earning more now.

Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.


   
ReplyQuote
(@pingpong)
Estimable Member
Joined: 13 years ago
Posts: 128
Topic starter  

Thanks I thought that was the case. the trustee send a letter asking o
for a income expenditure assesment after being discharged in november mentioning and "until your income payment agreement comes to and end......" but my wife never had one as she was unemployed and still is. I am sure it just a standard template but when she phoned the office they could give her an answer about the agreement, what it was and if she would be expected to start contributing if she should get a job. worrying for such a big company.

thanks for your replies


   
ReplyQuote
Share: