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Scottish Trust Deed Forum
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Topic starter
25/06/2011 9:29 am
i have been in a trust deed for nearly 3 years i had my payments reduced last year to help me pay my rent and council tax but i fell behind in my tax i asked the td provider for help but i never recieved any when i contact them i do not get any reply what would happen if i were to stop my direct debit and not pay them
25/06/2011 10:07 am
Hi Derek
If you fail to maintain payments, the Trustee could petition for sequestration or resign and give you your debts back.
I'm amazed no one has responded. I would send a recorded delivery letter advising of the position and state that you will reduce the payments unless you hear otherwise.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
25/06/2011 10:12 am
Hello Derek, welcome to the trust deed forum.
It's good to hear that your trust deed provider has already granted you some flexibility.
Is there an underlying reason why you haven't been able to keep up with everything? Has your income reduced?
The trust deed is a legal agreement and there are a number of things that could happen if you fail to meet your obligations. I doubt it would happen straight away, but your bankruptcy might be one possible example if you refused to make payments.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
