Well done hajxel!

Are you feeling any better about things since joining the forum?

Good luck to you and your wife on your journeys hajxel. The first step is definitelythe hardest, but once done the feeling of relief is great. I entered into a trust deed in 2009 as an absolute last resort after burrowing my head in the sand with embarrassment at the mess I'd gotten myself into. My financial problems were a result of being unemployed for 4 months after a job fell through, and I found myself getting deeper and deeper into debt, borrowing off Peter to pay Paul. It was a horrendous time and I'll never forget the stress it caused, not just to me but to my husband and parents too.

The company I decided upon were very good and really helped me. To cut a very long story short, I was discharged from my trust deed in June 2014 after an extension of 2 years due to equity on the family home that I jointly own with my parents. My trustee was discharged 1 month later.

I'm not going to lie and say having a trust deed is a bed of roses, because it isn't. It is hard financially but if you liaise with your relationship manager and trustee, and are completely honest and open with them, it will work and you and your wife will emerge debt-free at the end of the term.

There is also life after a trust deed.

What a great first contribution to the forum, debtfree - thanks for sharing your experiences. I'm sure hajxel and many others in a similar place will be grateful to know that they can look forward with optimism.

I agree Kevin, an excellent and thoughtful contribution.

Welcome to the forum debtfree.

A really encouraging and useful post debtfree. Thanks for taking the time to share.

Oh and welcome to the forum!

Thanks for the comments. I had our first meeting today, the ball is rolling, and today Feb 9th 2015, I feel better already. TD being applied for.

Hi hajxel,

Well done on taking steps to deal with the debts.

I think every expert would agree that we can see a real change in someone after the first meeting as that's when the client realises that there is help and advice available and a plan to help deal with the debts can be put in place.

I'm sure things will be fine and before you know it you will be back on advising that your Trust Deed has become protected and then to say you have received your Form 5 (discharge certificate).