Hi moishall.

Sorry that this has become confusing, it does illustrate the complexity of some of the things that can come up in connection to a trust deed.

Hopefully things will become a little clearer when Kevin has the opportunity to respond to Mark's thoughts.

Over to you now Kevin 🙂

Mark, you said it yourself - "until a determination refusing discharge" ie once a trust deed has had its protection removed and the debtor has been refused discharge then they are able to apply for their sequestration - or at least the Accountant in Bankruptcy seem to view it this way regardless of any inconsistencies that might be lurking in the law, of which I am sure there are many! I have checked with them myself.

My apologies, moishall, this is all getting a bit technical.

Hi Kevin

I think we've put the fear of God into Moishall.

In summary, I suspect that your Trustee will try to resign and get you to cover the costs of the sequestration yourself, when in fact the information suggests that they should petition and meet the costs.

If you did not co operate with the Trustee and failed to meetr payments, then they can resign and effectively give you your debts back. You could then look at sequestration at your own expense.

If you have had a change of circumstances and unable to meet the trust deed payments, then the guidance is that the Trustee should petition for sequestration at their cost.

Probably best to go back to an earlier point and ask the Trustee to advise you on exactly what basis they will be resigning.

Mark

Thank you both Kevin`s.. I am still waiting to hear from Wilson Andrews, I shall be back to explain to you exactly what they say. That is if and when they get back in touch.

Moishall

Wilson Andrews got in touch today. Quite simply they are finished with me. They have referred me to a citizen advice agency, and can do no more for me. they still say I will be debt free in a year, due to me being on benefits.... My trust deed would have been finished next month if it had all worked to plan. Thanks everyone for your help

Sorry moishall not good enough from WA

As mentioned earlier ask them for chapter & verse on how they intent to close and do they plan to follow the regulations/guidance.

What were the circumstances of you leaving your job, Moishall? At the end of the day, this is happening because you voluntarily left employment and were therefore unable to keep your side of the bargain in the trust deed. I'm less inclined to criticise Wilson Andrews position as they are really only being fair to your creditors - though it certainly shouldn't have dragged on for 2 years before coming to this.

circumstances were personal for leaving my employment, mainly a break down with my managers and conditions that i would have found impossible to work under, i was left no other option other than to resign,,, I then took out a grievance against my manager WA knew at time this was happening.

WA have been in touch today, they are sending out forms to me that I am required to complete and then send to citizen advice along with a one off payment of £100 , and that is simply all they are doing to help me now

Hi moishall

I assume from your last post that they have now formally resigned. They do this by circularising creditors seeking discharge and this is effective 14 days later. In terms of the legislation the also need to have notified you of this and explained the right to appeal this. Was this ever sent?

Next stage appears to be the completion of a petition (&£100 cost) for sequestration. This isn't as bad as you think and if your income is benefits based, there will be no contribution to be paid. I'm sure the CAB will keep you right with the forms etc.

Hope this helps

Mark

Hi mark

In terms of the legislation the also need to have notified you of this and explained the right to appeal this. Was this ever sent?

The answer to the above is no, I have had no written correspondence from wa... Only telephone discussions...

Hi Moishall

What date was the Trust Deed signed?

Mark

Today i recieved a letter stating the trust deed has been terminated. a break down of costs and remuneration also discharge notice of trustee...

Also application to creditors for discharge of the trustee of a protected trust deed
Stating bankruptcy scotland act 1985, schedule 5

my trust deed was granted on 11/14/2008

makes no sense to me but you guys might know and understand it..

Hi moishall

Generally they are saying to creditors that the Trust Deed has failed, due to non payment and they want to be discharged from it as they cant make the agreed dividend payment set out at the start.

What you have is the process for doing this. You should also receive a letter advising that you are not being discharged from the debts and in terms of Section 23(2) a, you can appeal this. This letter is a must.

It probably sounds more confusing than it is, however this will allow you to look at sequestration in 2-3 weeks and if your income is benefits based then there will be no contribution.

Hopefully this helps

Mark