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Scottish Trust Deed Forum
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Topic starter
23/09/2012 12:28 pm
Hi,
As some of you may remember I posted a wee while ago about using money from my Mortgage Reserve account to pay towards doing a course. I've had an awful thought.. Is this seen as obtaining credit? Have I broken the terms of my Trust Deed?
23/09/2012 1:01 pm
Hi Nemo1.
There isn't a standard rule preventing anyone taking further credit after signing a trust deed.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
23/09/2012 5:08 pm
Although we advise people not to take on credit (simply because we don't want them to end up in the same boat) there is no legal restriction on taking out credit whilst in a Trust Deed. Only with sequestration is there a restriction- you cannot take on more than £500 of credit, without telling the person you are borrowing from that you are an undischarged bankrupt. You are fine so don't worry.
Shona is not currently posting in the Trust-Deed.co.uk forum.
