When do I stop payi...
 
Notifications
Clear all

When do I stop paying creditors?

4 Posts
3 Users
0 Reactions
919 Views
(@gbmraith94)
Active Member
Joined: 9 years ago
Posts: 17
Topic starter  

Im about to sign a trust deed, when do I cancel my payments to my creditors? Once I've signed or once it becomes protected?
Thanks


   
Quote
TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Hi gbmraith94,

I'd suggest talking to your adviser and getting their advice on this.

There is no set point in time when this crossover should occur.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
ReplyQuote
(@gbmraith94)
Active Member
Joined: 9 years ago
Posts: 17
Topic starter  

Ok. Thanks. This was a question for a friend as I was in a trust deed years ago. She also asked that she has available credit on a credit card that will be included in the trust deed. She asked could she just withdraw the available funds just before she signs the trust deed or would there be reprisals in doing so?


   
ReplyQuote
Paul McDougall
(@paul-mcdougall)
Member Moderator
Joined: 6 years ago
Posts: 164
 

Please see response to the post in the other thread

Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed


   
ReplyQuote
Share: