In what way are you not happy?

Not sure its possible to just end a td and go back to dealing with your creditors.

Has your situation changed that you feel you can now afford to pay your creditors?

Paul

Welcome to the forum Roy.

Generally the answer is no. You, your creditors and your trustee became bound by this legal agreement.

What's the problem?

The Trustee has the ability to discharge himself and return the debts back to you, however there would need to be a valid reason for doing so.

Mark

quote:

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Originally posted by plasticdaft

In what way are you not happy?

Not sure its possible to just end a td and go back to dealing with your creditors.

Has your situation changed that you feel you can now afford to pay your creditors?

Paul

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Hi
They are looking to get more money than i was due when i went into t/d 2years ago buy selling my hours

Hi Roy.

When you say selling your hours do you mean selling your house?

Hello these things are a nightmare, I am about to apply for equity release to raise enough funds that the trustee would accept as a cash payment can he stop me from doing this in order to sell my house and keep most of the equity twice the amount of the cash settlement

Hi Roy

No, you not be able to release funds or deal with the property without the consent of the Trustee. There will probably be an issue with your ability to obtain credit while still in the Trust Deed.

The easiest solution would be to speak with your Trustee to see exactly what is required to deal with the Trust Deed and then look at any available options.

Mark

Hi Roy.

As Mark says, you'll need the consent of your trustee to raise equity from your home. You should therefore talk to the trustee about whether going in this direction is acceptable to them.

Are you talking about the type of equity release mortgage that is available only to older persons and which does not involve making any repayments afterwards? If that's the case, credit scoring probably isn't a relevant issue.

Hello again Roy.

I think you may have just tried to contact one of our experts using their contact form regarding this matter.

I'm afraid that they aren't able to correspond directly offline regarding trust deeds that aren't under the supervision of their own firms.

Best to keep your replies and questions here on the forum if there's additional information that you want. You can do that by clicking the "Reply to Topic" button just above (to the right) of a forum thread when you're signed-in and reading it.

The same "Reply to Topic" button is also available below and to the left of a forum thread when you're signed-in and reading it.

Sorry as i said i am not very computer literate

Roy

Hi, That is the one no credit score required

Hi Roy,

As you are subject to a Trust Deed then you will need to run everything by your Trustee. I wouldn't invest time exploring options until you have a clear understanding of what the Trustee is looking for. That way you can try and move forward with a plan.

Have you considered sitting down with your Trustee to discuss your case?

Hi Roy

The normal process would be for the lender to take a security over the property for the loan. However this could not be achieved due to the Trust Deed being in place and they would then withdraw any offer.

The only option would be to speak directly with the Trustee and try to come to an agreement on the figure. With the Trustee's consent, there is a greater chance that the funds would be released.

Mark