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Scottish Trust Deed Forum
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Topic starter
06/02/2015 4:05 pm
Hi I'm just looking for some advice. My husband and I entered into a joint trust deed 26 months ago. My husband has always made his payments but I had to stop after 12 months because I had a baby and went on maternity leave. Since then we have moved to canada and I am still not working and we are starting to struggle making my husbands payments. The trust deed company have said that if I don't start making payments in the next month then both our trust deeds will fail. I have asked if they will declare bankruptcy but they can't because I'm not in the country. So I'm wondering will the creditors start contacting me over here for the full amount I owed 2 years ago, how does it work? Will the debts we owe in the uk affect our credit rating in Canada. Also my parents are paying for a flight over to scotland in April for me and my children can I declare bankruptcy then?
06/02/2015 5:17 pm
Welcome to the forum mavemew.
It's a difficult question to answer.
If the trust deeds fail then your creditors will be free to pursue you directly for repayment of the balances due again.
Will they pursue you for the debts? They'll each make their own decision I suppose, possibly influenced by how much is owed to them when working out whether it is worthwhile.
I can't confidently answer your question about your credit rating in Canada, but I suspect "no" provided that there is no legal recovery action started by your creditors in Canada.
How long is it since you moved overseas?
Do you have any remaining firm links to Scotland - a home that you own or a business that you operate for example?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
06/02/2015 5:29 pm
Hi
We have been here for 5 months now and we still own a flat in scotland which is in negative equity. That is also a bit of a problem our tenants were very late for 2 months with rent so we missed a mortgage payment.
06/02/2015 6:39 pm
Hi again.
I'm fairly sure bankruptcy might still be available to you once you've been released from the trust deeds.
Let's see what Mark, Kevin or David think when they next visit the forum.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
