Trust Deed Forum - Provision of Agreement Breached - HELP PLEASE
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 Provision of Agreement Breached - HELP PLEASE
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Martin44
Contributor

8 Posts

Posted - 17 December 2021 :  11:37:56  Show Profile  Reply with Quote
I am in Trust Deed and I have been legally protected for a few weeks but today I received a letter from one of the creditors demanding immediate repayment of the debt.
In addition, this creditor scares me that a bailiff will visit me.
Additionally, this creditor mentions in the letter that he is aware that I am with Trust Deed.
Can this creditor really take legal action despite the fact that I am legally protected?

Casper

TDA (Debt Adviser)
Trust Deed Expert



13967 Posts

Posted - 17 December 2021 :  11:58:29  Show Profile  Reply with Quote
Hi Martin44,

If this is an included creditor, and your trust deed has become protected, there is nothing they can do to enforce the debt.

Contact your trustee and ask them to intervene to stop this contact.

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Martin44
Contributor

8 Posts

Posted - 17 December 2021 :  12:24:09  Show Profile  Reply with Quote
thank you for the quick reply.
what does it mean ,,included creditor"? Is this a non-objectionable creditor? This creditor must have received a letter from my trustee proposing my debt repayment option. But I do not know what the reaction of individual creditors was.

Casper
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TDA (Debt Adviser)
Trust Deed Expert



13967 Posts

Posted - 17 December 2021 :  12:36:15  Show Profile  Reply with Quote
Hi Martin44,

By "included" I just mean that it's a debt covered by your trust deed. There are a pretty small number of debts (student loans for example) that cannot be included, so I was just covering that off.

It doesn't matter if this creditor objected or not provided that there was enough support for your trust deed to become protected. All creditors are covered if that's the case.

Many lenders use external agents to review trust deed proposals, so there can be a lag between your trust deed becoming protected and the original lender updating their records about it.

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Kevin Mapstone
Trust Deed Expert



4111 Posts

Posted - 17 December 2021 :  15:52:55  Show Profile  Reply with Quote
It is unfortunately quite common for people to still get some collection letters/calls during the first couple of months of being in a Protected Trust Deed. As TDA says, it is usually just because of slow communication between creditors and their agents and should be ignored. They certainly cannot take action against you as threatened.

If it doesn't stop soon then you should make sure your Trustee takes it up with the creditor on your behalf.

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Martin44
Contributor

8 Posts

Posted - 17 December 2021 :  16:07:48  Show Profile  Reply with Quote
Thank you all for the answers. You are wonderful and very helpful - Thank you again.
This letter simply surprised me, especially the first sentences (I am quoting): ,, You are in breach of condition of your agreement as we have received notice that you are or are likely to become bankrupt or enter into an equivalent process with your creditors. "

Nevertheless, I will definitely contact my Trustee.

THANK YOU

Casper
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Kevin Mapstone
Trust Deed Expert



4111 Posts

Posted - 17 December 2021 :  16:16:17  Show Profile  Reply with Quote
Sounds like it might be a Default Notice, which is really just a formal letter that many lenders serve at this point. It has to be set out in a certain way, demanding payment in full etc, but that doesn't mean that they will follow it up with any action as they should be well aware they cannot.

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Martin44
Contributor

8 Posts

Posted - 17 December 2021 :  16:20:53  Show Profile  Reply with Quote
You reassured me a lot, I am grateful that you can find so many helpful people here on the forum.


Casper
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TDA (Debt Adviser)
Trust Deed Expert



13967 Posts

Posted - 17 December 2021 :  17:52:12  Show Profile  Reply with Quote
I'm glad that we could help Martin44.

Hope that you have a great weekend.

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Martin44
Contributor

8 Posts

Posted - 17 December 2021 :  18:01:18  Show Profile  Reply with Quote
You reassured me a lot, I am grateful that you can find so many helpful people here on the forum.


Casper
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