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Scottish Trust Deed Forum
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Topic starter
08/05/2011 10:04 pm
Hi, Im looking for advice on an existing trust deed signed by my husband. when he signed the trustdeed one of the loans was a joint loan, therefore i am now being chased by wescot to pay this back in full. my question is should i need to pay the full amount? where is the trustdeed money going if i do? also how can we find out how much is actually being paid to RBS by the trust deed and should we minus this from the amount wescot are chasing for.
one more thing, can this debt ever be dealt with the bank again? or now that wescot has got it should i just deal with them. any advise would be great
thanks alot
08/05/2011 11:06 pm
Welcome to the trust deed forum nicoz.
If Wescot are the most recent people you have heard from it would be best to deal with them. It could change again in the future.
They are entitled to seek full repayment of the debt from you.
You are right that a dividend will eventually be paid from the trust deed if everything goes to plan. As such, you might want to try to set up a payment arrangement that will not fully repay the debt by the end of the expected trust deed term.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
09/05/2011 1:56 pm
If you do end up paying the debt in full before the end of the trust deed then you have a right to make a claim in the trust deed instead of the bank. In other words, some of the money that would have gone towards paying that debt from the trust deed can be paid to you instead.
Therefore it would be wise to retain proof of payment if you do pay off the debt.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
