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Scottish Trust Deed Forum
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Topic starter
21/01/2013 4:10 pm
i have been in a trust deed belive it or not now since 2005 made contrabutions for 2 years and we had another child in 2007 to witch a payment break was allowed during this break my trust deed company went in to admin and the company was purchaced by another co in 2009 my first letter telling me of this was in 2011 (unbelivable) i was begining to think i was discharged now my circumstances have changed again and they are trying to sequestrate me
also on my paperwork was the equity value on my house 14000 now the house value has went up and theres 50000 equity in my house
8 years in a trust deed and now they want to make me bankrupt feel like ive been missmanaged all along by 2 companys when i could have been bankrupt and diacharged long ago
someone please help
21/01/2013 4:22 pm
Sounds like a nightmare, big L.
How was the equity going to be dealt with in the first place? Maybe there is room for some negotiation given the unfortunate circumstances?
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Topic starter
21/01/2013 5:16 pm
is there anyway of claiming miss managment to the governing body
the equity is a major blow but its my problem i guess ill just have to deal with it
any advice is welcomed
Topic starter
21/01/2013 5:17 pm
the equity was supposed to be remortgaged but in the current climate i dont think thats going to happen
21/01/2013 8:21 pm
Hi big L.
If you want to complain you'd usually go to your own trustee first.
If you remain unhappy after that you could approach the professional body of which your trustee is a member with your complaint.
Sadly I think you're correct about remortgaging. It's quite some time since we heard from someone that was able to release equity in this way prior to being discharged from their trust deed.
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