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Scottish Trust Deed Forum
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Topic starter
16/09/2013 7:02 pm
Hi there, I am 7months into my TD and am still receiving calls from creditors. Is there anyway I can contact the creditors directly to perhaps pay discounted lump sum payments? It seems that a trust deed may not have been the right decision for me.
The collection agency that is calling continuously is MMF they offer to repay a lump sum amount which is heavily discounted. If this is the case could I not have done that with each creditor instead of entering a trust deed. I should have probably spoke to the creditors before entering a TD but I was just so intimidated by the calls and letters.
16/09/2013 7:55 pm
Hi weewillamena.
Maybe you could have negotiated settlements with your creditors, maybe you couldn't have.
It doesn't make much difference as you and your creditors are now bound by the trust deed.
You shouldn't make a direct payment to this creditor and they shouldn't be asking for one.
Your trustee should be able to help you bring this contact to an end if you ask for their help.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
16/09/2013 8:18 pm
I'm amazed that 7 months down the line you are still receiving calls. You should refer matters to your trustee to deal with.
Normally by month 3-4 we have all claims in & agreed and I would imagine most firms would expect calls to cease well before this time.
As you are in the trust deed, you are unable to negotiate payments. It may be that one creditor agrees to accept a lesser amount, but its unlikely they all would.
Best refer this to your trustee and get them to chase the creditor until the calls stop.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
17/09/2013 9:11 am
Hi weewillamena,
As Mark and TDA have advised contact your relationship manager/Trustee and let them know that your creditors are still continuing to pursue you.
We do send paperwork to all of your creditors but from time to time you can get a persistent creditor or debt collection company who still continue to call you and send letters. Unless you let your relationship manager/Trustee know then this may continue.
Once your RM/Trustee is aware of the creditor/debt collection company then can then phone them, fax, email and post confirmation that you are in a Protected Trust Deed. It can sometimes be a game of cat and mouse with the creditors and debt collection companies but it's our job to get this stopped for you.
Why is it you feel that the Trust Deed may not have been the right decision for you?
David is not currently posting in the Trust-Deed.co.uk forum
