Hi kdog7.

No news is generally good news.

Fingers crossed for you that all works out as expected.

Hi kdog7,

As TDA said no news is generally good news.

Hopefully your Trust Deed does become protected. I'm sure if your TD company had any concerns over the proposal they would have discussed these with you. We all work to figures set by most creditors so I would be surprised if there is going to be a problem.

Generally a creditor will object on the following basis:

1 ÔÇô Excessive fees
2 ÔÇô Excessive financial statement (income and expenditure)
3 ÔÇô Insufficient dividend (return to creditors)

Give your relationship manager a call for a quick update on your case as they may be able to put your mind at ease.

I'll look out for your post on the forum at 5.05pm tomorrow advising that your Trust Deed will become protected.

Hi kdog7

It is very unusual for a trustee not to be able to make a proposal which will be accepted as the majority of creditors are dealt with by one firm. As long as you stick to their criteria, then there should not be an issue.

I think the 'no news is good news' thing applies here as there would be no real reason to contact you until the 5 week period had expired.

Saying that, I bet the staff are out of that office at 5.01pm. Just kidding!

Mark

Just heard out of my two creditors RBS have accepted, just waiting on MBNA to get back. By my calculations MBNA is 27% of overall debt with RBS 73%.

Hi kdog7

Excellent. The RBS agreemenmt alone is sufficient.

Mark

That's good news kdog7.

Even if MBNA do object then this will be insufficient to prevent the Trust Deed becoming protected.

Sounds like you can start to relax now.

I bet your glad you put the call into your relationship manager to find out!

I'll still expect to see a happy post at 5.05pm tomorrow!

Kdog, A majority of my debt was split between abbey & Mbna who all agreed to my trust deed. But surprisingly egg.com objected to my trust deed and I owed them £600 odd in total compared to the thousands for other (sigh).

Yes certainly glad I called, I suppose it feels a bit weird to be celebrating a trust deed but its a weight of my mind. Looking forward now to getting payments made and everything back on track.

Hi kdog7,

It's not ideal to be celebrating a Trust Deed as it's a very big decision to enter a Trust Deed but it allows you to draw a line under a problem that you may have had financially for a good number of years. It's that light at the end of the tunnel.

The protection of the Trust Deed can be a big worry for clients as it's that final hurdle to overcome on the path to becoming debt free.

You can now focus on the future knowing that you only have one monthly payment to pay and that none of your creditors can take any further legal action against you.

Just heard back this afternoon and all has gone through and being sent to AIB. Thanks for info guys. Great forum for just getting things off your mind here. Like many others in the same situation its good just to have some impartial advice and reassurance close by.

Hi kdog7,

That's excellent news.

Best look forward to the future now and relax about the debt. Before you know it you will be coming to the end of the Trust Deed.