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nevelucie1
Just Joined

2 Posts

Posted - 30 September 2020 :  07:19:04  Show Profile  Reply with Quote
Hi all, this is my first time posting after trawling though all the topics on the forum. I signed my trust deed only last week and I can barely sleep at night worrying that it wonít be granted protected status looking for some reassurance really....

TDA (Debt Adviser)
Trust Deed Expert



13520 Posts

Posted - 30 September 2020 :  09:08:59  Show Profile  Reply with Quote
Welcome to the forum nevelucie1.

Congratulations for having taken steps to address your debts.

It's really very rare that we hear about trust deeds failing to become protected in this forum.

The major creditor organisations share their trust deed acceptance criteria with trustees, so your trustee should have warned you in advance if your proposals don't fit in with these criteria. If you haven't had such a warning that's probably a very good sign.


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nevelucie1
Just Joined

2 Posts

Posted - 30 September 2020 :  10:25:52  Show Profile  Reply with Quote
Thanks so much for your reply, thatís made me feel better. Yes, the company Iím dealing with have advised that I donít have any Ďíbadí creditors in that sense but my anxiety is running riot at the minute and Iím just fearing the worst case scenario #128546;
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TDA (Debt Adviser)
Trust Deed Expert



13520 Posts

Posted - 30 September 2020 :  11:25:46  Show Profile  Reply with Quote
Hi nevelucie1.

I think there will be many people reading this who've felt exactly the same while waiting to see whether their trust deed becomes protected. It's only natural in this situation.

Hopefully you get some good news very soon. Please do let us know how you get on.

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Paul McDougall
Trust Deed Expert



92 Posts

Posted - 30 September 2020 :  12:00:52  Show Profile  Reply with Quote
Yes nevelucie1

It is very rare a trust deed would fail to achieve protected status. Your trustee is experienced in knowing the acceptable parameters of proposing the trust deed.

Try not to worry - I know that is easier said that done but the 5 week will fly in.

P

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leeper1974
Advanced Contributor

78 Posts

Posted - 02 October 2020 :  14:08:21  Show Profile  Reply with Quote
Mine became protected in 2010 - seems a long time now! I dreaded that too - but I remember getting the call telling me I was protected it was such a relief, I'm sure it'll be fine
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