Trust Deed Forum - Old Debt
Trust-Deed.co.uk
Home Home Page


















Trust Deed Forum
Trust Deed Forum
Home | Profile | Register | Active Topics | Members | Search | FAQ
Username:
Password:
Save Password
Forgot your Password?

 All Forums
 Trust Deeds
 Scottish Trust Deed Forum
 Old Debt
 New Topic  Reply to Topic
Author Previous Topic Topic Next Topic  

Neverendingstory
Advanced Contributor

177 Posts

Posted - 10 October 2017 :  13:25:57  Show Profile  Reply with Quote
I wonder if someone can help me with this.

I had an overdraft with Santander when I started my TD. Unfortunately this was not included in my TD. Due to various house moves, I never received anything from them and basically forgot about it.

I have now received a letter from Santander saying they have sold my debt to Cabot.

My question is this: my overdraft has been outstanding since 2010, is there a time limit on the debt? I've have googled it and some information suggests that the debt is unenforceable after 5 years in Scotland, 6 years in England, its basically written off. Is this correct?

Thank you!

TDA (Debt Adviser)
Trust Deed Expert



12101 Posts

Posted - 10 October 2017 :  13:34:52  Show Profile  Reply with Quote
Hi Neverendingstory.

If this debt existed when your trust deed began, it was included whether or not you made your trustee aware about it.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
Go to Top of Page

Neverendingstory
Advanced Contributor

177 Posts

Posted - 10 October 2017 :  13:42:32  Show Profile  Reply with Quote
Hi TDA

Thanks for that. So what do I do now? They won't have received any monies from my TD?

Thank you.
Go to Top of Page

TDA (Debt Adviser)
Trust Deed Expert



12101 Posts

Posted - 10 October 2017 :  13:46:58  Show Profile  Reply with Quote
If you have the documentation about trust deed dates available, demonstrate to Cabot that this debt was covered by your trust deed.

That should sort this out pretty quickly Neverendingstory.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
Go to Top of Page

Neverendingstory
Advanced Contributor

177 Posts

Posted - 10 October 2017 :  13:49:54  Show Profile  Reply with Quote
Fabulous. Better go look for my Form 5.....
Go to Top of Page

Neverendingstory
Advanced Contributor

177 Posts

Posted - 10 October 2017 :  18:25:11  Show Profile  Reply with Quote
Just spoken to Cabot Financial. As Santander wasnít made aware of my Trust Deed, I am still liable for the debt.
Go to Top of Page

TDA (Debt Adviser)
Trust Deed Expert



12101 Posts

Posted - 10 October 2017 :  18:41:43  Show Profile  Reply with Quote
Hi.

Make a complaint then someone sensible there will identify they've got that wrong!

They really shouldn't make statements like that.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
Go to Top of Page

Kevin Mapstone
Trust Deed Expert



3411 Posts

Posted - 10 October 2017 :  19:48:24  Show Profile  Reply with Quote
Yes, Cabot are talking nonsense.

Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed    
Go to Top of Page

Neverendingstory
Advanced Contributor

177 Posts

Posted - 25 October 2017 :  13:38:20  Show Profile  Reply with Quote
Complaint lodged. Wait and see what happens now!
Go to Top of Page

David Tannock
Trust Deed Expert



2096 Posts

Posted - 26 October 2017 :  08:49:30  Show Profile  Reply with Quote
Hi Neverendingstory,

As others have pointed out Cabot donít appear to know what they are talking about. You are not liable for the debt.

Iím sure now you have lodged a formal complaint it will be resolved.

Let us know how you get on.

Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed
Go to Top of Page
  Previous Topic Topic Next Topic  
 New Topic  Reply to Topic
Jump To:
Trust Deed Forum © 2008 - 2017 www.trust-deed.co.uk Go To Top Of Page
Snitz Forums 2000

(c) Channel Active Limited. Company Number: 06412452. Data Protection Registration: Z1332750.
Telephone calls may be monitored or recorded. Authorised and regulated by the Financial Conduct Authority.
Trust-Deed.co.uk, Clyde Offices, 2nd Floor, 48 West George Street, Glasgow, G2 1BP. Tel: 0141 2490416.