Comments on: 11 Consequences of Scottish Trust Deed that you must know before signing

By: Fermina Halliday

Fermina Halliday — Tue, 09 Mar 2010 03:39:15 +0000

Hello, great article. I've also been running a blog about similar topic too - Student Loan Help

By: Debbie Brown

Debbie Brown — Fri, 05 Feb 2010 07:30:16 +0000

Hi Euan,

Trust Deeds are for Scottish people. If you are from Scotland, Trust Deed can be the best option to fight off your debts. It is better to protect yourself instead of getting bankrupt. As for entering a Trust Deed, you can be rest assured that it will not affect your position and your job. Though your Trust Deed will be published in the Edinburgh Gazette, but then it is not a regular newspaper. It only publishes legal notices and is published only on Tuesdays and Fridays.

You can read our article on Edinburgh Gazette here: http://www.yesdebtfree.co.uk/articles/trust-deeds-edinburgh-gazette-social-stigma/.

By: Euan Todd

Euan Todd — Wed, 03 Feb 2010 23:17:28 +0000

I am currently reviewing my finances and considering entering a trustdeed…I am a teacher and need to be assured this won’t affect my position???

I feel it is the best way forward for myself and to be honest reading what people have said about them and how they work I am feeling relieved about getting my debts under control.

By: Michael

Michael — Thu, 10 Dec 2009 10:11:15 +0000

Claire, if you had received these assets during the Trust Deed your creditors would have been entitled to a portion of it.

Because you have been discharged from the Trust Deed, you can claim half the assets and keep 100% of it.

By: Claire Deer

Claire Deer — Thu, 26 Nov 2009 13:40:30 +0000

I have just come out of a trust deed and am now about to start divorce proceeding. My Lawyer says that I am entitled to half the assets my husband had at the time of separation. This was also the time of the start of my trust deed. The reason for the split was that I had concealed all my debts from him since we met and these were found out. Obviously all the money was in his name.

I would love to be entitled to the half the amount of the time of separation but am worried that this will affect terms of the Trust Deed I entered. I think he would contact them as he has spent a lot of it since fighting for custody of our daughter, I had legal aid he could not get it get so is not happy to pay half the money at time of separation but is happy to give me half of what is left.

What are my options?

By: carl

carl — Sun, 15 Nov 2009 22:13:43 +0000

I was in 16k of debt due to a failed business, took a trusteed out and all my hassles vanished overnight from creditors. Im now discharged from it but still gunna have another 3 years of not being able to get credit. But to be honest it has not affected me. It has made my life so much better. I am so in control of my finances now. Please seek advice before but its well worth it.

By: Miranda

Miranda — Wed, 27 May 2009 12:24:29 +0000

Hi Sophie,

Thanks for your comment. But you did not mention when you took the loan! It could have helped.

Sorry to say but you cannot include student loan in your trust deed although it is an unsecured loan. However, you can postpone the monthly payment till you reach a certain repayment threshold.

By: Sophie

Sophie — Wed, 27 May 2009 12:08:45 +0000

Hi,
I am thinking about applying for a trust deed. I just wanted to know if I can include my student loan into a trust deed as it is not a secured loan!
Thanks
Sophie

By: How does a Trust Deed Work?

How does a Trust Deed Work? — Thu, 14 May 2009 13:31:07 +0000

[...] the last post I wrote about 11 consequences of signing a trust deed. In this post we will talk about how trust deeds actually work. If you have any problem, please [...]