Insolvency in Scotland

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spla

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Post by spla » Wed Aug 15, 2007 10:51 pm
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hadrian had the best idea build a wall lol
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iva_squirrel

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Post by iva_squirrel » Thu Aug 16, 2007 11:54 am
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Hello,


A Trust Deed is a legally binding voluntary arrangement, available only in Scotland, which offers debtors an alternative to bankruptcy.

It is designed to enable those who cannot repay their debts a way to establish, with the aid of a Trustee, a monthly repayment schedule based on what the debtor can afford to pay. The Trust Deed will last for a specified period, usually three years.

You have to bare in mind that Trust Deeds are a formal and legally binding arrangement between the debtor and the Truste and should only be entered into accordingly.

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Julia Simavi

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Sadsack

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Post by Sadsack » Thu Aug 16, 2007 12:01 pm
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Cannot understand why Edward just didn't stay away!!!!

The Severn Bridge???!!!! Indeed melanie!!!![:D]

Sue



Ho Hum! Think I'll bang my drum!

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Ho Hum! Think I'll bang my drum!

Read My Blog
http://sadsack.blogs.iva.co.uk/
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OPTIMIST12

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Post by OPTIMIST12 » Tue Sep 04, 2007 7:17 pm
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Melanie -

In view of the lower dividends potentially accepted in Scottish Trust Deeds do you know from your experience if stricter creditors (such as Northern Rock) have differing (as in lower) acceptance criteria for Scottish customers seeking trust deeds as against the rest of the U.K. in IVAs? Presumably they initially offer credit on an equal basis to customers throughout the U.K. - living in England, Wales, Northern Ireland and Scotland - but given Scotlands lower minimum dividend requirement - are people South of the border likely to then receive harsher treatment from them?

As far as I know all credit card companies advertise their businesses U.K. wide - do you know if they then adopt different criteria re acceptable dividends for Scottish and non- Scottish customers when things go amiss and IVAs / Trust Deeds are being considered?

It just seems a bit strange that the "United Kingdom" has so many different rules. No offence intended to any Scottish readers!!!
47 months completed - 13 months to go.
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