Welcome to the forum donnajay.

Please don't worry about this situation. A company has sold your debt and somehow the message hasn't reached the debt purchaser about your trust deed.

The purchaser (and any purchasers in the future) are bound by the terms of your trust deed; there is nothing they can do in terms of making direct collection from you.

Selling debts after a trust deed has started, even though it sounds a bit strange, is very common and nothing for you to worry about. So long as you stick to your commitments to your trust deed the included debts will all be gone when you get to the end of the term.

hi thanks for your reply. i have been in my trust deed for 2 years and never really thought to much about it till now. i decided to look into what happens when the 3 years comes to an end. i must admit looking on here is very scary as to what is happening to some of these people. this 500 pound nominal fee i have never heard of but this may have been mentioned in the begining and i cant remember. when i sining my trust deed the man that came out said not to worry about equity in my house as there wasnt much! i didnt think to much into it. my house would sell for around 70000 at a push but houses around here are not selling. one in the next block has be up for sale for around 2 years after getting repossed. i reckon i will owe around 63000 between my mortgage and my secured loan by the end of my trust deed. do you think i will have problems at the end of my trust deed? i seen the thing about them not taking the first 5k in some cases. just really concerned after reading some of these poor peoples stories with no way out. thanks d

There have been some terrible stories here about what can go wrong with equity if it isn't dealt with and explained properly from the start donnajay. It's not good to hear that advisers have used phrases like the one you have mentioned.

The first thing to say is that trust deed valuations are based upon a home being sold pretty fast; that may hopefully mean that there is not believed to be any equity in your home when the time comes.

The second thing to say though is that a Trustee has no choice but to deal with any equity that does exist; it's part of their responsibilities and duties rather than them being in any way aggressive or unpleasant in doing this.

Some do make an allowance for the costs that might be involved in selling a home (this is where the £5000 figure has arisen in the forum from) but this is subject to discretion and seems to vary from firm to firm.

I do hope that this situation will not worry you too much. From what you've written it doesn't sound likely that any equity amount, even if it existed, would be very large. So long as that's the case a few extra contributions might be the solution rather than having to worry about anything more dramatic.

Hopefully it will be a non-issue for you though.

thank you very much tda for all your advice. it makes you realise how important forums like these are. i will sleep better tonight now as was a bit worried earlier on. i will contact creditfix and ask about the £500 nominal sum and the £5000 against your equity just so i know for sure when the time comes and will ask that this be sent out in writting. once again many thanks d

this is want i am geting more & more worried about as well, when spoke to my company, they just brushed it aside and said it will be handled next year, I am into my 3rd year. I have vague memories about it but cannot find the sajfa letter! was very stressed at the time, think at the time there was only about £1500 equity in the flat.

How are property prices in your area getingthere? In most areas they've been in gentle decline recently... something that may well be to your advantage.