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JGM, Solicitor
Category: Law
Satisfied Customers: 12092
Experience:  30 years as a practising solicitor.
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I have been subject to a Scottish Trust Deed established

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I have been subject to a Scottish Trust Deed established over 5 years ago, it is currently running year 6 due to missed payments. I have asked the firm for a final settlement figure but the amount was more than I could raise. I am 66 years old and my income is reducing, throughout the term the payments have been covered by my wife who is 67, she raised the money by a lifetime mortgage on a property she owns, she is not involved with the trust deed.
The situation cannot continue due to our age and earning potential, I have done my best to maintain payments through the term. Can I make an appeal to have the Trust Deed discharged and if so how would I start the process.

As your circumstances have changes you can ask your trustee to reduce or suspend your payments which may have the practical effect of bringing the trust deed to an end. The trustee should consider your request and make a decision which is reasonable having regard to your situation balanced with that of your creditors. If you are unhappy with any decision that the trustee makes you can ask him to reconsider. Thereafter you can complain to the Accountant in Bankruptcy. I hope that helps. Please leave a positive rating so that I am credited for my time.

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