Hi 1985debt.

It's great to hear that you had a positive meeting with David today and that there's a plan in place. Best wishes with this.

Hopefully someone with the experience you're asking about will be able to share their thoughts with you soon.

Morning 1985

Creditors do have the option to accept or reject a trust deed. Credit Unions will consider each proposal under their own merits and make a decision. It is often difficult to call whether the credit union will object or not.

If they do reject and have sufficient voting powers, then one of the options at that point would be consider sequestration.

David and his team will be able to guide you through the sequestration process such as completing the application and submitting it to the Accountant in Bankruptcy.

One positive thing to take from this is that unlike a trust deed, creditors cannot object to a sequestration application.

Thanks to be honest whatever one ends up happening I will be relieved that I’ve at least found a solution to debts as over the last year I’ve been robbing Peter to pay Paul and waking up in middle of night stressing about Aqua cards etc . Hopefully some people will see my post and give me some idea of how things went for them although I have been reading a lot of older posts too .