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Scottish Trust Deed Forum
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Topic starter
15/02/2011 10:33 am
Hi there,
I have been in a trust deed now for over 2 years and have made full payments every month. I have just realised an ISA put away for me will mature approx 6 week before my TD finishes. What is the legal rule on this? Do my creditors get a share of it?
Thanks
Ciaran
15/02/2011 10:47 am
Hi Ciaran and welcome to the forum.
Is this money "set aside" in an account in your personal name?
When signing a trust deed you commit to making monthly contributions (based upon affordability) as well as contributing the value of significant assets that you own to help repay your creditors.
As such, if your trust deed company are aware of this asset I'm sure they will ask that the sum be paid into the trust deed. A failure to disclose the asset to your Trustee could cause issues for you if it were to come to light later.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
