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Scottish Trust Deed Forum
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Topic starter
17/11/2011 8:47 pm
Hi, Can someone help. I signed trust deed(protected) earlier this year over a 4 year period. If my circumstances change can my trustee extend the term.
Moira Macdonald
18/11/2011 5:44 am
Hi Moira
In general, yes, but only if there was a reduction in the contribution amount.
The time period of the trust deed is not the main factor, it's the total figure you agree at the start and that is the figure you need to meet. If there was a reduction in the contribution amount, then the final figure would take longer to achieve.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
18/11/2011 9:08 am
Welcome to the forum mom02.
Is there a particular reason that you are concerned about this at the moment?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
18/11/2011 12:14 pm
This is a bit of a grey area, mom02, and is dependent upon the policy of your trustee. The Accountant in Bankruptcy's guidance says that the nature of any change in circumstances should be borne in mind by the trustee. Discharge should only be refused in cases of non-compliance, though this is effectively what your trustee is doing by extending the term of the trust deed.
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