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Scottish Trust Deed Forum
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Topic starter
21/02/2013 9:58 pm
Hi there,
I wonder if you could help me,
I entered into a trust deed in November of 2009, It was protected and i have paid 29 of the 36 payments, I lost my job in 2011 and this is why i fell behind with my payments,
Can you tell me what happens at the end of a trust deed and if i am over the Satisfaction date, what will happen?
Thanks Greg
21/02/2013 10:38 pm
Did you inform your trustee at the time your circumstances changed, greg1985? What did they say?
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
21/02/2013 10:59 pm
Hi greg1985,
It depends on the reason behind the job loss I suppose. Was it your fault or redundancy?
Some trust deed firms will extend the period until 36 payments have been made, and the timescale does not matter. Others will see the loss of a job not your fault and close the case on the 3 year anniversary and you will not be required to make up the arrears.
therefore discharge will depend on the reason for job loss, conduct in Trust Deed up to this point as as this was reason for missed payments.
Rob is not currently posting in the Trust-Deed.co.uk forum.
Topic starter
22/02/2013 12:44 pm
HI there, Sorry for late reply,
I didnt actually inform them of the reason, I just missed some payments, I have however paid it after i found another job,
Reason for losing my job was that i had 4 operations in a year and was found to have taken too much sick leave,
Greg
22/02/2013 1:07 pm
Hi greg1985.
We probably cannot tell you what will happen. Your trustee has some discretion so you'll need to talk it through with them.
However, it's very difficult for them to exercise any discretion in your favour if they don't know what's been going on and why payments have been missed.
I think you need to have a pretty open chat with them.
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