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Frequent Contributor

36 Posts

Posted - 09 June 2022 :  07:08:51  Show Profile  Reply with Quote
Hi I am wondering if you can just clarify so my trust deed has became protected which I am delighted about however I just wanted to check. My trustee has said not all creditors agreed to this however as most of them did after the 4 years all my debts even the ones where the creditors objected will be cleared is this correct? If these creditors are on my credit file will these be removed after the trust deed ends as well?

Sorry another question I had a debt arranged scheme for some of my debts but changed to a trust deed to include more now that my trust deed is protected do I need to contact Stepchange to provoke my DAS or will this automatically happen?

Kevin Mapstone
Trust Deed Expert

4111 Posts

Posted - 09 June 2022 :  10:37:02  Show Profile  Reply with Quote
That's right, Nicci, even creditors that rejected the proposals have to abide by a protected trust deed and write off any remaining debt at the end of the term.

The DAS should be automatically revoked, as its existence should be picked up by the Accountant in Bankruptcy when your Trust Deed was registered as protected. They will then start the revocation process.

Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed
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Frequent Contributor

36 Posts

Posted - 09 June 2022 :  10:48:55  Show Profile  Reply with Quote
Perfect thanks #128522;

Makes me feel so much better knowing in 4 years I will be debt free for the first time in 12 years & I can have a fresh start .
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