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Scottish Trust Deed Forum
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Topic starter
20/08/2013 4:23 pm
Hi,
I am in a protected trust deed, and have been since August 2010. I've had quite a lot of sick leave during this time and have subsequently missed payments and obviously accrued arrears on my trust deed, rent, council tax and utilities. I have no assets. My trust deed company have demanded payslips, sicklines and bank statements which I have forwarded to them. Can my TD be extended? Or will I have to clear off the arrears on the TD within the 48 month timescale even though I cannot afford to do so?
20/08/2013 4:28 pm
Hi KellyAnn
It is likely that the trust deed will be extended as your obligation is to pay what was agreed at the start, in terms of the proposal made to creditors.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
20/08/2013 6:01 pm
Thank you for the advice
20/08/2013 11:27 pm
Hi KellyAnn.
It isn't impossible that your trust deed will not be extended. Your trustee might take that view if they believe that your missed payments were beyond your control. This depends upon the view that your trustee takes though, others will expect the missed payments to be caught up, normally via an extension.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
21/08/2013 9:01 am
Hi KellyAnn,
I'm sorry to hear of the difficulties you have experienced whilst in your Trust Deed.
As Mark and TDA have advised, your Trustee could extend the term to ingather the missed payments or take the view it was out with your control and not extend.
A lot of it will depend on the level of arrears that you have. If your Trust Deed was due to last for 4 years and by extending it due to the arrears it may have to last to 5/6 years your Trustee may take the view that this is too long. The Trustee has to balance out the costs of any extension against the amount they will ingather and if it's beneficial.
Best thing to do is give your relationship manager a call and ask for an update on your case and what their intentions are.
David is not currently posting in the Trust-Deed.co.uk forum
21/08/2013 10:41 am
I was placed on short time at work during my TD and as a consequence my payments were reduced. When I went back to normal working hours my payments were increased accordingly in line with my income/expenditure but I still completed my obligations in the agreed 36 month period.
