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Trust Deed, New Bank Account Details


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Hi all, looking for some advice please.

 

I am about to enter a trust deed and have opened a new bank account to avoid my creditors being able to empty it before I could pay the mortgage, council tax etc.

 

I used to bank with Santander and had an overdraft with them plus a credit card so they are part of the creditors in the trust deed. I'm not sure of the status of my bank account with them as I should still be within the overdraft limit and haven't received any correspondence regarding this so I'm assuming the account is still active.

 

I also have my home insurance through their direct insurance arm and they have written to me requesting payment since the payment due at the end of last month wasn't made.

 

Home insurance is a requirement of my mortgage so I can't just do without but I am nervous about giving Santander my new bank account details in case they can raid it.

 

Is my best option to offer to set up a standing order for payment of this, should I cancel the contract with Santander and get a new deal somewhere else or am I worrying over nothing?

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I don't think they would have any rights to access your account for anything other than the insurance payments - only if it was one of their accounts they would.

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WHY ARE YOU ENTERING A TRUST DEED IF YOU OWN PROPERTY?

IS THERE EQUITY IN YOUR HOME?

THINK ABOUT THIS VERY CAREFULLY AND SEEK INDEPENDENT ADVICE IF THE ANSWER IS YES.

 

Santander cannot raid an account with another bank, the only way they can arrest funds from another bank is if they obtained decree through the Sheriff Court.

They can only offset funds if you have another Santander account with funds.

 

If you need further assistance please come back as Trust Deeds for home owners set off alarm bells.

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agreed

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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