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Scottish Trust Deed Forum
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Topic starter
21/09/2010 7:25 pm
Hi,
Firstly can i mention how useful i have found this site. Only wish i had found it B4 agreeing to a PTD....
My question relates to the total amount claimed by the creditors after coming to the end of a 3yr PTD..
My trust deed was set up for total debts of approx. 42K I have paid ?ú500 per month totalling over 3yrs 18K. last payment made April 2010.
I do have equity in my home of approx. 10K which i am trying (with no success so far) to release by remortgaging.
I have just looked again at the annual statement that the IP sent to me this year and notice that only one of the original creditors have actualy made a claim for the debt owed to them. The claim that has been made is for ?ú800!
So my question is - what does this mean and what are the possible outcomes of this?
I have asked the IP about this and their rep said they would contact the creditors again to ask them to make a claim - I responded by saying that the Trust Deed ended in terms of payments in April and all creditors had been given over 3 yrs to make their claim. I also asked what the time period would be for this. Waiting on a call back from IP to explain further however thought i would try the experts on here too.
Thanks in advance for any help offered.
Thanks
22/09/2010 8:29 am
Hi Pedro
I still find myself amazed (after 20+ years) at some of the stuff I read on here.
There is an obligation on the Trustee to obtain and adjudicate (agree) claims from creditors, pay a dividend hopefully in line with the proposal at the start and close the case. How any Trustee can justify their fees and still be in this position is beyond me.
Can I ask what and who the 'rep' was?
If the Trust Deed was 'designed' to run in terms of a sequestration, then the Trustee may need to consign the funds to the AIB's office. It won't be the case that they don't claim and you get money back.
Mark is not posting regularly in the Trust-deed.co.uk forum.
22/09/2010 8:33 am
sorry doing this from my phone and it posted without finishing.
If I were you, I would ask for copies of all correspondence to creditors chasing the claims and threaten to report the matter to their authorising body as the case is still open after 3and a half years.
Please let me know how you get on.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
22/09/2010 5:19 pm
Thank you for the reply.
I am speaking to them on Friday to discuss equity release and there proposal to do a PPI claim on my secured loan, i'll add this to my list.
I'll let you know what happens.
oh.. and the firm are Creditfix
thanks again
Thanks
22/09/2010 5:30 pm
Ahh... the PPI scenario rears its ugly head again.
Have you read the other threads about PPI claims in the forum pedro?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
