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?should trust deed be extended

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(@mrs-mac)
Trusted Member
Joined: 13 years ago
Posts: 70
Topic starter  

I have previously wrote about the beginning of my TD when the credit union continued to take payments from my salary for the first 4 months of my TD. Invocas told me to reduce the monthly payment to them by the same amount as they said that would claim the money back from the credit union. 3 and a half later they still haven't claimed this back stating the credit union won't refund these payments. Initially I was told this may extend my TD by several months so I could pay this back. Then I was told it wasn't my fault so I shouldn't be paying this back at the end. I asked for this in writing and 3 times was told it would be posted. Now I'm being told that invocas need to write to creditors to see if they agree to this and give them 14 days to respond. What's your thoughts on this.


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

Hi Mrs Mac.

It seems like a normal step to advise creditors where something slightly unusual has occurred.

It might be best to hold on for a short while to see what the response is.

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


   
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Rob Hardie
(@rob-hardie)
Estimable Member
Joined: 12 years ago
Posts: 196
 

By making payments to the credit union an unfair preference has occurred. The credit union have been preferences over the general body of creditors. It is the trustees duty to claim this back for the creditor, brininging the whole amount in to the estate in order that all creditors benefit from this. If this has not been returned by the creditor then there is not much else the Trustee can do. Is it cost effective to pursue? Probably not. By notifying creditors that they intend to close the matter, they are in effect getting creditor concurrence to move on. Quite normal.

Rob is not currently posting in the Trust-Deed.co.uk forum.


   
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