Hello again sososad.

Have you spoken to your Trustee about how they intend that you should proceed from here?

Hi sososad.
I understand your confusion - hopefully the CAB can help sort things out. You shouldn't be in a DMP and a trust deed at the same time. Are you actually making any contribution payments to the trust deed?

Once a trust deed is signed it is not cancellable, even if it fails to become protected. Therefore either you carry on with the trust deed and hope that the creditors who rejected it do not take further action against you, or you go for sequestration instead.

Hi thanks for your response, I was told by the IP to cancel the direct debit that was set up for the trust deed and i said i was going back into a debt management plan, they suggested bankruptcy and i said i didnt want to go down that road and they let me go back on a dmp which i am paying to the dmp and not the trust deed. Im so confused!! I do have a letter saying the trustee has resigned and when i called they said i was not in a trust deed and to be aware that creditors can do diligence against me.

Can you also answer if i am in a trust deed does this mean that it will be ended in 3 years even though the creditors objected to it?

Sorry a bit long winded but really am confused with it all.
Thanks again

Hi there

Can I ask who the IP is. (sorry if I asked this in an earlier post)

There is a facility to be discharged for non co operation or non compliance, but NOT a TD which has been rejected by creditors.

If I were you I would write to your Trustee, Recorded Delivery, and ask exactly what section of the bankruptcy scotland act and/or Schedule 5 allows him to resign and what action he took to facilitatethis resignation?

Mark

Hi Mark

Thanks for your advice again, although i am a bit reluctant to send anything as i am now scared of what the outcome would be, i certainly dont want to be made bankrupt and fear that the company would enforce this on me if i start to question things.

I cant get my head round the whole thing as this is been going on Since December last year and dont know what to expect next. The IP resigned in January and has had nothing to do with me since.

Is it possible to try again for a trust deed or am i best just leaving alone? I am currently paying double the payment as to what the trustee wanted us to pay and feel that we are coping with that okay.

You shouldn't have to go bankrupt - if a TD fails to become protected it means you have the right to apply for sequestration if you wish, as do your creditors. However, the trust deed cannot just be cancelled - I do think you need to get a straight answer from your trustee about where you stand.

Hi again,

Well the plot thickens, i have had a letter from the the trustee apologising for the delay in replying as he was on holiday. He has now confirmed in writing to me that i opted to go in to a dmp therefore i have not been made bankrupt and my file was closed early this year.

I am so confused, i have had 2 meetings with CAB and no one seems to be clear whether we are in a trust deed or not? as i now want to go into a DAS scheme which we can afford, going again to see another person at CAB soon (hopefully!) we are not paying into a trust deed and have not been paying anything for 8 months now. Now hoping to sell my partners company and clear it that way, which means he wont be working and i will have to pay everything out of my wages which is not much, really wish i hadnt got involved in all of this just seems like we have had a lot more stress with doing something about our debt.

Can you advise whether it is possible to enter into a DAS Scheme - the trustee has resigned, we are in a dmp and have been for 8 months now, is this an option?

Sorry again, but really cant get my head round all of this.

Thanks again