Hi all,

I have been in a trust deed for almost 3 years now and am hoping to finish up within the next couple of months but have a few concerns.

I received a letter from the trustee, which I think is a standard letter wishing to check my status regarding equity in property. I currently live with parents and do not own any property as my property was repossessed not long after my TD commenced. My property was worth less than what I owed to the mortgage company and builder (shared equity) so it had been confirmed when I initially looked into and set up the TD that these would rank as claims in my TD. From what I gather, the mortgage company are listed as a creditor in my TD so I'm under the impression they have made a claim for the shortfall, however I have heard nothing from the builder or any representative of them regarding the shared equity. My original trustee was aware of the situation and re-assured me that I could not be liable for this at a later date. However my TD was passed onto a new company and it's been in the hands of 2 trustees since the new company took over. I addressed this a couple of years ago with them when it changed hands and once I had confirmation the property had been repossessed and sold on, but have heard very little since. The advisors on the phone asked me to send in all correspondence regarding this back then, which I did, and I heard nothing since sending all this in back then. I had been informed a new trustee within their company had taken over however heard nothing relating to this. I have re-addressed this again with them over the last couple of days and I have been advised to contact the builder to find out where I stand with them. I'm just concerned as I made all attempts to inform them of this 2 years ago and done what they asked, but I don't understand why I need to now contact the builder to address with them, I thought that's what the trust deed would take care of. I'm worried where I stand with the builder if they haven't made a claim. My intention had been to make a fresh start once my TD completed but I am now really concerned what would happen if the builder is still owed the value of their equity share.

Can anybody help?