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A brief guide to Trust Deeds Continued....
Will my creditors agree to a Trust Deed? - Once creditors are notified of the
Trust Deed, they have a period of 5 weeks to object to it. For a Trust
Deed to fail, your Trustee will have to receive objections in writing
from more than 50% of your creditors or at least one third in monetary
value. Creditors who do not write back to the Trustee with a specific
objection are deemed to have accepted. In practise, it is unusual for
a Trust Deed to fail. Once the period of 5 weeks expires, the Trust Deed becomes a Protected Trust Deed and thereafter all creditors are bound
by it. If less than 50% or less than one third object to it, they are
still bound by the Trust Deed and cannot carry out any action against
you for recovery of any debts.
What if my debts are joint with my partner? - A Trust Deed deals only with your financial affairs.
If you have joint loans with your partner, then your creditors have the
option of pursuing your partner for the full amount, unless your partner
also does a Trust Deed.
What do I do next? - To contact us quickly and in complete confidence
please click on the enquiry form link below
CONFIDENTIAL ENQUIRY FORM
Alternatively, if you want to go ahead
with our service immediately, click on the link below to download the
questionnaire. You should complete and return it to us as soon as possible.
We will then check your documents and appoint a local Insolvency Practitioner who is suitable for your particular case. If you wish, and it's more convenient,
a home visit could, in certain circumstances be arranged.
Please download and complete either of the forms below and post to...
Debts.co.uk ™
One Imperial Place
Maxwell Road
Borehamwood
Hertfordshire
WD6 1GA
Debts.co.uk Questionnaire (PDF)
Please don't wait until it's too late
Our advice is FREE, you are under no obligation whatsoever.
Call us now in complete confidence on FREEPHONE 0800 9 15 15 16.
Licensed under the Consumer Credit Act 1974
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