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 Reasons a trust deed can fail
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diomur95
New Member

3 Posts

Posted - 23 February 2021 :  10:35:22  Show Profile  Reply with Quote
What are the reasons a trustdeed can fail? Why would a trust deed company cancel your trustdeed ? Unsure of this and feel like maybe at the time I took it out about a year ago I didnít ask enough questions . Just to clarify my trustdeed hasnít failed but just wanted to ask the question

TDA (Debt Adviser)
Trust Deed Expert



13657 Posts

Posted - 23 February 2021 :  10:53:22  Show Profile  Reply with Quote
Hi diomur95.

This list might not cover everything, but potential examples include:

1 - Failing to make payments.

2 - Becoming unable to make payments (this will not always result in failure).

3 - Failing to comply with reasonable requests from a trustee.

4 - Failing to disclose windfalls.

5 - Breaking other rules agreed to at the start of the process.

Failing a trust deed should always be a last resort though. If everyone is acting in good faith then another outcome in response to a problem might be preferable for all involved.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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Swandog
Advanced Contributor

219 Posts

Posted - 23 February 2021 :  14:22:57  Show Profile  Reply with Quote
What's making you ask the question diomur95? Are you worried about a change in circumstances?
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