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Scottish Trust Deed Forum
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Topic starter
14/02/2010 1:54 pm
Hi
Can someone help!
I have been in a protected trust deed since 2006 which was due to end August 09 when i paid the last of my ?ú100 monthly installments. As i had missed 3 payments my final payment was December 09. I received a letter saying i would be discharged on 24th Feb 10.
I have now been told by the trust deed company that i will not be discharged until they receive half the equity from my ex-partners house.
I split up with my ex-partner 18 months ago. Until December 09 i was under the impression the house we lived in was in his name, as the mortgage was solely in his name. It turns out my name is on the title deeds!
The house has been on the market since July 08 and is ready to be repossesed as the morgtage payments are in arrears. My ex-partner was made bankrupt late last year. He had the same IP as me and the IP was not at all happy that he was not getting any of my ex-partnet's assets!
Is my IP legally permitted to hold off discharging me? I'm at my wits ends. I cannot get through to speak to my trust deed and he will not return my calls.
Help![V][V][V]
KT
14/02/2010 4:18 pm
Hello kt67; welcome to the Trust Deed forum.
Sorry to hear that your discharge has been delayed.
Do you know if there is much equity in the home? Who lives in the home?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
14/02/2010 6:06 pm
quote:
Originally posted by Trust Deed Assistant
Hello kt67; welcome to the Trust Deed forum.Sorry to hear that your discharge has been delayed.
Do you know if there is much equity in the home? Who lives in the home?
I think there may be equity in the home but my ex-partner's bankruptsy accountant has claimed it as far as i know. I moved out in oct due as i could not take on the mortgage payments when i split up with my ex so no-one lives there. As far as I know there's been no payments made since.
Why is my IP trying to hold on to me? will i need to give him more money?
KT
14/02/2010 6:09 pm
Hi KT67
If the house is in joint names and there is equity, then your partner's Trustee will seek half of the equity and your own Trustee will seek the other half.
Unfortunately I can't see the Trustee seeking the discharge until the matter is resolved.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
14/02/2010 7:37 pm
Thanks
Does that mean that i should be discharged when the repossesion is finalised.
KT
15/02/2010 1:56 pm
You may need to wait until the house is actually sold I'm afraid, kt67
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