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Scottish Trust Deed Forum
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Topic starter
23/03/2013 3:56 pm
Looking for some advice guys, the friend that first told me about TD's has been offered voluntary redundancy. She is 2 years into a 4 year TD, I have tried to explain to her that she would only be able to keep the statutory payment and the rest of the enhanced payment she would receive will go to her trustee.
She has argued that her trustee wouldn't know but I don't know if I would risk it. I know she will do what she wants but I don't she why she would risk losing nearly 18 months salary to her TD. She doesn't have to take the redundancy I think she has been swayed by the amount of money offered.
What would you do in a) her situation, and b) in mine?
23/03/2013 4:54 pm
Hi AlphaB.
She's obviously aware that some of the money would vest in her trustee, so it's hard to see her proposed position as being anything other than outright dishonesty.
There are lots of ways it could come to light; payslips, bank statements etc.
Might lead to failure of the trust deed, bankruptcy, or a very long extension to recover any money that should have been paid over and which is no longer available.
Sounds as though you've done what you can to remind her of her responsibilities. She entered into the trust deed voluntarily so really should abide by the commitments that she made.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
23/03/2013 8:58 pm
Risky business to keep a redundancy package secret from your trustee. Trustee do have a bite when they need to.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
