Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
It states in the advice given regarding trust deeds:
WHEN I AM DISCHARGED DO I GET MY PROPERTY BACK?
Once you have transferred your assets to your trustee, it becomes their duty in law to sell them for the benefit of your creditors. The trust deed continues to operate after your own discharge as long as there are assets for the trustee to manage or realise.
Does anybody have any idea how long this stays in force after your become discharged?
If I get the opportunity to enter into a trust deed now I believe that there may be little or no equity in my property at the end of the three year period after discharge.
Is there a minimum amount for trustees in this respect? i.e. say there is £1000 equity, would they sell your house for this?
Trust Deeds & Property Any Ideas????
Reply With Quote