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Johnny230190
Just Joined

1 Posts

Posted - 29 October 2020 :  21:07:24  Show Profile  Reply with Quote
I have 11 months left of my td left but im due a compensation payment in the next month. What is the risk of having the claim paid into a different bank account and the trust deed not finding out about it ? Thanks

TDA (Debt Adviser)
Trust Deed Expert



13542 Posts

Posted - 29 October 2020 :  22:39:54  Show Profile  Reply with Quote
Welcome to the trust deed forum Johnny230190.

I donít mean any personal offence to you, but youíre asking us a question here about the possibility of defrauding your creditors and breaking the terms of a legal agreement that you entered into voluntarily.

I canít offer you any assessment of the level of risk of being discovered.

Consequences? Being stuck in the trust deed for much longer if the money is no longer available. A failed trust deed that reunites you with your debts. Being made bankrupt and having to make a further four years of monthly payments with risks to certain assets you may own as well. All possible I guess.

You really should make your trustee aware of this claim and take things from there.

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TDA (Debt Adviser)
Trust Deed Expert



13542 Posts

Posted - 29 October 2020 :  22:48:04  Show Profile  Reply with Quote
Iíd also just point out that the personally identifying details youíve put in your forum profile are visible to any signed-in forum member.

You might want to go back into your forum profile and remove some of that detail (the fields can be left blank) because another signed-in member could currently use it to search the register of insolvencies.


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Edited by - TDA (Debt Adviser) on 29 October 2020 23:08:22
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Paul McDougall
Trust Deed Expert



94 Posts

Posted - 30 October 2020 :  13:39:47  Show Profile  Reply with Quote
Johnny

TDA is correct. Any insurance company will carry out due diligence to ensure you are not subject to an insolvency process.

Whether or no your Trustee has an interest in the funds will depend on the facts of the case.

Honestly is the best policy as the Trustee is most certainly going to find out about the claim.

p

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