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Scottish Trust Deed Forum
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Topic starter
13/12/2010 3:09 pm
Hi
I had taken a suite with DFS last year over 3 years interest free & then my circumstances changed resulting in me becoming involved in a protected td.
My payments are due to start with DFS for the suite. My question is, are you able to incorporate this within my TD or do i commence making payments with this? I didn't include the payment on my original TD application as I totally forgot about this.
Your comments are appreciated.
13/12/2010 3:51 pm
Hi graeme7171.
Is it definately an unsecured loan from DFS rather than a secured loan? I only ask as I'm not sure how this company usually manages these types of credit agreements.
My understanding is that if such an unsecured debt existed on the day that you signed your trust deed it should be included as part of the trust deed.
As such I think that you should contact your Trustee to let them know of the existence of the debt and so that they can contact the creditor in respect of this.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
13/12/2010 5:02 pm
From my experience with DFS credit, it is usually a fixed-sum loan agreement with Hitachi Capital (ie unsecured), in which case it should be included in the trust deed. As trust deed assistant says, contact your trustee and advise them of the situation and if I am right then you will not make any payments to DFS, they will have to claim in your trust deed instead.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
