I think whether this option would be acceptable to a trustee/creditors would depend largely on the amount of equity being raised, or rather the amount of equity not being raised for the benefit of creditors. If it works out that selling the property would raise much more for creditors then it becomes more difficult for a trustee to justify such a deal.

should i approach trust deed company and see what they say.
as i am still not happy about having to sell house. as i stated originally, because they told me i wouldnt have to, as they would use whaever equity there was in house,unfortunately i never got that in writing.

had been in debt management with payplan for 2 years then moved to trust deed and been in it for 4 years this meams it is over 6 years since i defaulted with debt is there no time scale to when debt is written off or will i be held responsible by trust deed company
original debt 32,000 approx

paid 7,200 contributions over 3 years
8,000 from PPI claims actual offer from companies
and offered 17,000 from sale of house
trustdeed company wont accept this

Hi manatbushk,

If you're in a trust deed you will remain subject to the agreement until you are discharged.

The most that you'll have to pay is:
1 - The original debt total.
2 - Interest on the debts.
3 - The fees and costs associated with the trust deed.

If your home is sold I'd have thought the trustee will seek the full amount available up to the total amount specified above.