Hi lorrainek,

When did you enter into your Trust Deed and can you advise how much equity you have in your property? It may be possible to reduce your payments but your Trustee has to take into consideration the possible timescale it would take to pay over any available equity.

It shouldn't make that much difference that you stopped payments at the end.

Trustee's are normally willing to negotiate and come to a compromise to avoid having to go down the route of legal action and selling a property to obtain the equity. This is always the last resort if an agreement cannot be reached.

Hi Petal
Out of curiosity - does this mean the equity was not dealt with and agreed before signing the TD? Is it only recently that we are advised to get an equity value and agreed amount to pay prior to signning?

Regards.

thank you for your replies, the equity has been reduced to 6000,which we are very glad about.just need to get back to them to negotiate what the repayments will be. i know it would make sense to pay more and get realised quicker but i would rather not struggle anymore than we have to.[:)]