Trust Deed - Change...
 
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Trust Deed - Change of timescale

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(@scallywag)
Active Member
Joined: 13 years ago
Posts: 10
Topic starter  

After paying for 3 years of my trust deed, i was then advised i still had a year to pay, at no time was i informed of the change in timescale or given a reason for this. At my initial meeting i was quoted 3 years and have the minutes of such. Has anyone else had this problem???


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Hi Scallywag and welcome.

If the arrangement that you signed was for three years, and nothing has subsequently happened to change that, then the arrangement would remain three years. It cannot be changed without reason.

I'd be demanding the reasons why the change has been made.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@scallywag)
Active Member
Joined: 13 years ago
Posts: 10
Topic starter  

It was unfortunately written in the contract four years but well hidden in the middle of the document, in the middle of a page in a lengthly paragraph and only once, this was not highlighted in anyway. As i said i had not been informed of this change. I feel this was an error on their part and now are using this to make me pay an extra year. I had phoned the company only 2 months before the date i thought it would end and they confirmed this, but when i phoned after the last payment they informed me i had another year to pay. I feel i have been totally misled and trapped. I have written a letter asking for a reason to why the length was changed without consulting me and asked for a reply within 2 weeks, but have had no response.


   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Hi Scallywag.

Hopefully you'll receive an explanation in due course that makes some kind of sense to you.

You do have options to complain if you consider it to be justified.

If your trustee cannot resolve the matter to your satisfaction you'll find that they are a member of a regulatory body which you can also approach.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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(@scallywag)
Active Member
Joined: 13 years ago
Posts: 10
Topic starter  

Thank you. I may just have to do that.


   
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(@scallywag)
Active Member
Joined: 13 years ago
Posts: 10
Topic starter  

It was suggested to me to stop my payments until I receive an answer to my letter, but how would this affect my trust deed?


   
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Shona Maxwell
(@shona-maxwell)
Honorable Member
Joined: 14 years ago
Posts: 634
 

Hi, I would not suggest that you stop paying, as that can backfire on you.

A lot of Trust Deed companies read the posts on the forum, so it may be that if they know your name, they can reply to you through he forum. If you give a person's name from the firm, they may recognise it, without you having to feel as though you were naming & shaming.

Shona is not currently posting in the Trust-Deed.co.uk forum.


   
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(@scallywag)
Active Member
Joined: 13 years ago
Posts: 10
Topic starter  

Ok I will keep paying and see the outcome of my letter.


   
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