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Scottish Trust Deed Forum
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Topic starter
03/08/2012 9:22 pm
Hi there, this is my 1st post!
Im looking for some advice. I entered a trust deed about 2.5 years ago. I was making regular payments but have not been frequent for the past 12 months. Since i entered my trust deed, my situation has changed and i have not informed the trustee. I am now living with my partner and have been for 1.5 yrs! She is currently in full time education and i am supporting her during this time. She has some debts that are 'our debts' although they are in her name!
I have been sent a status update form to fill out and im not sure where i stand. I dont want my partners credit rating or name to be affected by my trust deed.
Any help appreciated.
03/08/2012 10:27 pm
Welcome to the forum Helpme.
In terms of your own situation, communication with your trustee is vital. Without that, and with missed payments, you risk the failure of your trust deed or bankruptcy.
For your partner, her credit file will reflect whether (or not) she has made the debt repayments in her name.
Do you have any joint financial accounts?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
04/08/2012 4:17 pm
Hi, thanks for reply! We dont have any joint financial accounts! But she has a couple of cc in her name that we have used between us. We also got a car, again in her name but i contribute to payments!
04/08/2012 6:23 pm
Hi Helpme.
Would it be fair to say that these extra financial commitments you have taken on are the reason you've been missing trust deed payments?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
05/08/2012 2:24 pm
No. Basically mis-management of my spending and a couple of personal issues.
I currently earn 3x my partner as she is only receiving student busary. I have been subsidising her throughout studies. On reading bits of the site, it would seem that all income is taking into account, expenditure deducted then surplus split according to percentage of income. So
For example -
If i earned £1500 & my partner earned £500 then total income is £2000.
If our combined expenditure was £1400, we would have £600 surplus
Would that be divided so i get £450 and my partner £150??
05/08/2012 5:19 pm
That's the general gist of it Helpme, though every situation rests upon your unique scenario and the interpretation of it by your trustee.
For example, if your trust deed firm think you've been subsidising your partner at the expense of your creditors there might be an issue. Of course, this might well not be the case also.
As before, I think you need to communicate your circumstances to your trustee so that this can all be worked out.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
