It would be extremely unusual for a trust deed to fail to be accepted by creditors as we work to specific criteria set by creditors. The failure of a trust deed would normally be as a result of a change in the individual's circumstances rather than failing at the start.

Mark

Ok thanks Mark, it's just that I read on this forum it taking 6 months to issue form 5, I don't really know the process when at the end of the PTD,

That's really two different things poprey.

Failure might occur if someone cannot complete their obligations (or chooses not to).

Discharge follows the completion of all obligations.

OK thanks TDA, I haven't missed a payment, does that mean its looking good

Yes - you only need to carry on doing what you promised to.

Hi poprey,

When it comes to a Trust Deed failing there are generally two ways in which this can happen.

The first is at the outset of the Trust Deed a proposal is made to the creditors. If the creditors reject the proposal and are not prepared to accept it then a Trust Deed will fail to achieve protected status and won't go ahead. As Mark has advised we work to a criteria set by the creditors so a good knowledgeable advisor should be able to tell you up front if this may be a problem.

The second reason a Trust Deed can fail is if the client isn't able to maintain the agreement which they signed up to i.e. the payment per month or stops co-operating. The Trust Deed will then fail and the likelihood is the client will be passed back all of their debts.

If you are maintaining your agreed payments per month and your Trust Deed was accepted by creditors then you don't have anything to worry about.

Thanks David, and I would like to thank all the experts on here, you are all doing a fantastic job, very knowledgeable welldone.e