Welcome to the forum dondon.

I'm sorry to hear that you find yourself in this position.

I think you really must prioritise your health and wellbeing at this time as that is by far the most important thing. Are the sources of medical help you mention still available to you? Do you have people around you that you can talk to about all of this?

Who told you to expect a custodial sentence, dondon? I think it is very likely that the effect of your actions would be any more than maybe being sequestrated instead - especially given the personal issues you have been facing. Please try not to worry.

How much was the equity sum that you no longer have?

Hi Kevin KLM COMPANY NAME I have spent £16,000 AND i TOL THEM i DO NOT HAVE THE MONEY NOW i AM SO MIXED UP, i SAID THAT i HAD TO GIVE MY EX PARTNER MONEY HE WAS DEMANDING BUT THIS WAS NOT TRUE HE LEFT ME BECAUSE OF MY ISSUES. I AM NOW GOING TO SEND A LETTER EXPLAINING ALL THIS AND THEY WANT 6 MONTHS STATEMENTS WHICH i WILL INCLUDE , I DO NOT KNOW WETHER TO ENCLOSE MY DOCTOR AND PYSCHOLOGIST NAME, i HAVE SO MESSED UP AND AM BEHIND WITH MORGAGE NOW BECAUSE OF GAMBLING i HAVE TWO OLDER KIDS WHO ARE HELPING ME AND TWO WEE ONES 6 &7 YEARS OLD THEY ARE ALL WITH ME. i AM PAYING £200 TO klm AND AN EXTRA £225 TO MY MORGAGE ON TOP OF MY £660 monthly payment, I have just recieved a court summons from bank of scotland but yet they have sent me a letter saying thank you and we are pleased we have came to suitable arrangement (does this cancel out the court summons then unless i breach?) I have seen a lawyer who gave me a number to contact re the possible re-possession and he said he will see what happens first with klm in regards to them . thank you mark for answering but i see a big struggle ahead through my own stupidity . SO

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Originally posted by Kevin Mapstone

Who told you to expect a custodial sentence, dondon? I think it is very likely that the effect of your actions would be any more than maybe being sequestrated instead - especially given the personal issues you have been facing. Please try not to worry.

How much was the equity sum that you no longer have?

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Hi yes I am seeing my doctor and i am on medication i am making my health worse and I have to keep working its all such a mess I have my two older children with me and I have two wee ones 6 & 7 years old I have to go on for them try and get some advice i do not know how likely I will get a sentence but I have lied to klm about the wereabouts of the money I have gambled it and the majority is ther to be seen in my bank statement as was mostly online , I said my ex demanded some but he did not i tried to conceal my problem I now will do as they say and send statements but they will get a shock and probably not believe me that i gambled all this money I have seen a lawyer who gave me a number re- possible repossession which is by the bank as my morgage is in arrears i am rabbiting on now i have no means to gamble now but only recently i have closed all accounts so cannot i have self excluded I do not know what to concentrate on first klm or my morgage

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Originally posted by Trust Deed Assistant

Welcome to the forum dondon.

I'm sorry to hear that you find yourself in this position.

I think you really must prioritise your health and wellbeing at this time as that is by far the most important thing. Are the sources of medical help you mention still available to you? Do you have people around you that you can talk to about all of this?

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Hi dondon

I can feel your anxiety through your post. Can I just say, that i agree with Kevin - you will probably be sequestrated, but I would not envisage a custodial sentence. Is your mortgage with the Bank of Scotland? If so, it looks like they are happy with the arrangement, in which case as long as you continue making the payments they will be happy. Your solicitor is obvioulsy helping you which is good. I would be inclined to show your Trustee (i think you mean KPMG)all the supporting medical evidence you have. you are already trying to overcome your gambling problem, and ths kind of stress will help you. I hope it works out well, and that your Trustee will not cause you any unneccesary stress.

Hi Shona it is klm insolvency practitionars and they are based in glasgow altantic house
45 hope st

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Originally posted by Shona Maxwell

Hi dondon

I can feel your anxiety through your post. Can I just say, that i agree with Kevin - you will probably be sequestrated, but I would not envisage a custodial sentence. Is your mortgage with the Bank of Scotland? If so, it looks like they are happy with the arrangement, in which case as long as you continue making the payments they will be happy. Your solicitor is obvioulsy helping you which is good. I would be inclined to show your Trustee (i think you mean KPMG)all the supporting medical evidence you have. you are already trying to overcome your gambling problem, and ths kind of stress will help you. I hope it works out well, and that your Trustee will not cause you any unneccesary stress.

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Hi Shona my trust deed is protected does this make a difference I actually cannot remember all this being explained to me I was at a very low period then

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Originally posted by Shona Maxwell

Hi dondon

I can feel your anxiety through your post. Can I just say, that i agree with Kevin - you will probably be sequestrated, but I would not envisage a custodial sentence. Is your mortgage with the Bank of Scotland? If so, it looks like they are happy with the arrangement, in which case as long as you continue making the payments they will be happy. Your solicitor is obvioulsy helping you which is good. I would be inclined to show your Trustee (i think you mean KPMG)all the supporting medical evidence you have. you are already trying to overcome your gambling problem, and ths kind of stress will help you. I hope it works out well, and that your Trustee will not cause you any unneccesary stress.

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Hi

Once yout Trust Deed is protected, it means creditors cannot take further action against you to recover the debts. All of the duties required by you in a Trust Deed should have been explained at the beginning, maybe they were, but as you say you were not in a good frame of mind at the time. As far as your situation now, the Trustee could petition for your sequestration, or apply for their discharge, without discharging you from the debts. This would then leave you to apply for your own sequestration if you wanted. Why don't you ask them what their intentions are?

I think you are doing the right thing by facing up to this and being completely honest and up front with your trustee from now on. The fear of what might happen is a bigger stress than what is likely to transpire. I am sure everything will work out better than you think.