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Scottish Trust Deed Forum
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Topic starter
08/12/2010 6:40 pm
Spoke to my trustee yesterday who advised me when to expect my TD to appear in the Edinburgh Gazette. The countdown will obviously start then towards the cut off point by which my creditors have the opportunity to object to the TD. Although this will be a nerve wracking period, I still feel a sense of calm that I am finally starting to put in place a firm plan to sort out my debts.
One thing I have noticed is that my trustee seems very confident that my TD will become protected - I certainly wish that I shared this level of confidence. Maybe I am just an eternal pessimist.
08/12/2010 6:47 pm
Hi gresgow.
It's natural to be nervous, a lot of people have commented in this forum before that the five weeks are a very nervy time.
The major creditors have clearly understood acceptance criteria for trust deeds, and good trust deed companies are well aware of them. That might explain why your Trustee is confident.
You may also find a little more reassurance if you read the interviews with Mark, Kevin and Julie on this site (all linked from the main menu) where they answer a question about the proportion of trust deeds that they handle which go on to become protected trust deeds. The percentages are extremely high. Where there is ever a cause for concern (which is rare) the client can be pre-warned and choose to go ahead (or not) with their eyes open.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
08/12/2010 7:17 pm
Hi gresgow
I'll very soon be in the same position as you. It seems the snow has caused chaos (understandably) so things are taking a bit longer than they otherwise would.
Isn't the feeling of actually having done something wonderful? Sharing the problem with people who have solutions is a no-brainer really so I'm only amazed that it took me so long to realise this was the way forward.
Debt hell is such a lonely place to be. What you eventually realise though is that YOU decide when you want to leave it behind.
Anyway, good luck with getting your TD protected. My IP seems 100% confident about mine so I'm trying not to worry too much about it. Even at this stage in my TD, the worry and stress are MUCH less than they were with an unmanageable pile of bills every month.
Cheers,
DebtFreeWannabee
Topic starter
08/12/2010 7:46 pm
Cheers DFW
Totally agree with everything you have said.
Good luck with everything and keep us posted on here.
08/12/2010 11:32 pm
Thanks gresgow. I will.
09/12/2010 12:22 am
Look back to some of my initial posts back in Sept/Oct.. I was in the same position. Wondered how can my trustee be so sure that it will become protected and not to worry. Of course I was worried. Low and behold 5 weeks later it was indeed protected. What a sigh of relief that was.
So nice to have this forum and to have it from the start has been a godsend.
09/12/2010 1:21 am
I looked at your posts Amerififer and I could feel your anxiety oozing from the screen!
I'm with the same TD company as you so fingers crossed for the same outcome with regard to protection.
