I owed the Clydesdale Bank more a third of my total debt and they agreed to my Trust Deed being Protected, they were actually the creditors that gave me least hassle...

Most good IP's will know exactly what each of your creditors are looking for and what they will accept as a proposal and that includes the Clydesdale.....

Thanks - I know the IP knows what creditors will accept but there is always a wee bit of doubt in my mind

Welcome to the forum susieq73.

Just to echo Porcupine's comments, Clydesdale Bank aren't known to be anti trust deeds.

Assuming they consider your repayment offer to be fair I'm sure everything will be OK.

Hi susieq73,

Try not to worry, the Clydesdale bank's criteria are well-known to all good insolvency practitioners.
Is the debt to then more than a third? You mention that it is more than 25% but actually an objection from them would only cause a problem if they constituted more than a third of the total debt.

Try not to worry too much, I worried for the whole five weeks protection period and it made me very ill.

It was such a relief when I got the letter through saying it was protected.

I am not sure if this is true - maybe one of the experts could comment on this - but I was told by my IP that due to all the red tape and bureaucracy in banks, and the lack of departments communicating with each other makes it difficult for the bank to object within five weeks anyway.

I was with the Bank of Scotland - and they were the only creditors still calling me two months after the Deed became protected. After many calls referring them to the Edinburgh Gazette and my trustee they finally got the message.

Hi ScotsLad.

Most of the banks and credit card companies use "agents" to review and vote on trust deeds rather than handling it internally. There are two major operations that act as "agents" in this way and it would be them that would "object" if they saw fit to (on behalf of the lender).

The agents use well-known criteria to assess trust deeds; therefore good trust deed providers know what to expect when they submit a case on almost every occasion.

There do appear to be some delays in communications between such agents and the frontline debt collection staff at some of these institutions.

Hi TDA,

Interesting stuff! I bet my IP was just trying to stop me contacting him all the time to check to for objections!

Thanks guys - I have approx £22500 of debt and owe the Clydesdale £9000 out of that ( £8000 credit card & £1000 Overdraft)
Just concerned that they could not agree

Hi susieq73.

One reason that creditors sometimes reject trust deeds is that they perceive the fee levels of the Trustee to be too high.

This isn't frequently the case as most trust deed providers understand creditor expectations in this respect.

It is however important to take an interest in any proposed level of fees before signing for this and several other reasons.