Trust Deed Process

We understand that each debt solution can seem complicated at a first glance. We have tried to break it down for you below. Please contact us if you are unsure about anything or would like more information, on 0808 131 9101.
 
The Trust Deeds Process:

1: You need to compile a list of your creditors with all the money owed.

2: Our Insolvency Practitioner (otherwise known as an IP or a Trustee) will go through the list and write to your creditors offering a proposal.

3: If your creditors (over 75% in value) agree to the proposal then it will be accepted. From this point, any charges or legal action on your debts will stop.

4: You can send all of your creditor correspondence to us, and forward and phone calls as your IP who will deal with this. All you need to do is pay the monthly Trust Deed payment and any secured debts, such as your mortgage.

5: Once your 36 months is up, you enjoy being debt free!

Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.

Failure to complete the term of an IVA can result in bankruptcy.

(In Scotland, a PTD is the equivalent to an IVA.)