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Scottish Trust Deed Forum
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Topic starter
30/09/2009 8:31 pm
Hi there
I am asking this question on behalf of my friend. She works for the clydesdale bank but has had to reduce her hours due to ill health. Her circumstances have changed recently and she is struggling to meet her payments for her c/card, finance for car etc.
1st question is regarding her employer, she owes a couple of thousand to the clydedale bank, would she lose her job for entering a trust deed with them beiong included in the debt or would it be better to try and pay off or transfer this debt elsewhere before entering td?
2nd question is regarding her car, she has finance outstanding for this and payments last for another 2 years. Will she lose her car through the trust deed?
Thanks
01/10/2009 10:26 am
Hello again inovermyhead,
I know both Kevin and Mark have worked with individuals who work for banks and who have gone on to do Trust Deeds that haven't affected their employment.
Your friend might want to discuss this with a union rep if one is available; often people discover that a number of their colleagues have previously taken the same path without a major issue.
I think your friend should be careful about transferring money to a new lender if she knows she is not in a position to repay it. As Kevin wrote here recently that could lead to unwelcome scrutiny and possible problems of a different type.
If your friend has a need for the vehicle (which is on HP) and the payments are reasonable it would normally be OK to keep it and maintain the payments.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
