Trust Deed default

[crooky1969]

Hi i've been a very silly boy in my previous life, I signed into a trust deed in 2000, i paid for about a year then moved away, started a new life so to speak, will there be a sherriff court judgement against me or will this debt be statute barred, just had a letter on behalf of capquest "investments" lol if i have lived at the address....are they just fishing or can they still chase me for this debt?...been reading lots on here...many thanks for your advice:-)

[blueda]

Hi and welcome to CAG crooky1969, you can sign up to Credit expert for a free trial and find out if you have marks against your credit record. Not sure about time barred if the creditors have been sending mail to your old address though.

[rory32]

If the creditor has not obtained a decree against you and you have not acknowledged the debt in the last 5 years (acknowledgement would either be by way of a payment towards the debt or an offer of payment in writing) then the debt will be time barred.

[crooky1969]

i have certainly made no payment in the last 5 years, a company i've heard about in here called telogram are asking about me... I'm going to call them soon and deny it was me, i think it's the banks faults the entire country is in a mess, so why can't everyones' debt be wiped out?.. as it stands we're going to have to pay twice for the bailout through increased bank charges and higher taxes just so the banks can survive?..oops ami getting too political.......? lol never gonna vote labour again..how can i find out if they have a decree against me and can they gain one in my abscence?

[Moonlighter]

Hi Crooky 1969

 

Your debts from pre-2000 should have gone under your Trust Deed and if it became protected, you can not be pursued by your creditors from that period. Do you know if it became protected?

 

Your Trustee may actually have sequestrated you due to you not notifying him/her of your new address. Sequestration at that time would last a further 3 years. You can use the Edinburgh Gazette database online to check to see if this happened. If so, your credit score will be aversely affected.

 

Trust Deeds are legal agreements and are not to be entered into lightly. Anyone entering into a Trust Deed since the legislation changes last year can have the protected status removed if they fail to co-operate with their Trustee and they can then be thrown back to the wolves, so to speak, ie their creditors can carry on pursuing them. However, this won't be the case for you if yours was protected under the old TD legislation.

[crooky1969]

many thanks hance checked the edinburgh gazete online and although could find the trust deed could not find any sequestration...many thanks for all your help... looks like i have got away from this now all i have to do is send the CCA letters away.......... love you all... i have never learned so much about our rights!

[crooky1969]

i found my trust deed in the edinburgh gazette but not my sequestration so i take it it never happened, love to you all, xx and it was a protected one

Edited March 17, 2009 by crooky1969