Welcome to the forum debs.

This must be really worrying for you.

We're you told this by your actual trust deed firm before you started, or were you passed to them by an intermediary that gave you the initial advice you received?

Both companies New . my trust deed states no equity to be released from the property,a solicitor friend of mine also went through it . So I agreed all the conditions kept all my payments up and I should be finishing in November .

Sorry meant to say the first trust deed company sent a letter around a year after trust deed started about the property as it was in my details I think this was due to them being taken over by another company.I have a feeling they should not have given me a trust deed in the beginning. Surely they have to adhere to the contract I signed. Sorry about the spelling keys keep sticking and thanks for replying .

Surely if you have it writing that the house will not be counted - I would stand my ground regardless what they say.

Thanks sparky . The summery sheet has no equity to be released alongside my car and the 36 payments, it's also not listed on my assets. Received a letter from them today and its now listed on my assets. My friend said it can be taken to a sheriff to be admonished. I don't think they should of given me a trust deed. If I had carried on with loans be it a struggle I would of finished by now. Still waiting to hear from an advisor .thanks

Hi debs

Can I aks how much you owed at the beginning of your trust deed, and how much you are paying towards it each month?

Hi my debt was 23'000 and I have been paying 270 since it started ,thanks

Hello debs.

A property cannot be left out without the permission of your creditors. As this property wasn't on your list of assets it seems unlikely that the creditors agreed to this.

The problem may be, no matter what was said verbally, your assets vested in your trustee when you signed the trust deed. They have no option other than to realise the value of them for the benefit of your creditors normally.

Do you have anything in writing confirming that this particular property would not be taken into account?

Yes they wrote no equity to be released and put it as nill. Today in a letter they put it at 50'000 they knew I wouldn't do the trust deed otherwise. So when they wrote they wouldn't take equity out I signed it. This is the first time they have done this on a summery sheet.The accountancy and bankruptcy are now investigating as they have confirmed there was no equity to be taken out.

So does it say no equity to be released next to the detail of that particular property debs?

I presume it was you that asked the Accountant in Bankruptcy to take a look at this?

No it's the only property I have though. My trustee knew this why would it be listed with my car and shares and payments. It was all discussed so I signed.

Sorry I should of said this company also said they never knew about my property until later into the trust deed!!! Ironic it's called a trust deed.yes I have contacted aib not sure if they can do anything . Do they have the power to override the trust deed.

Hi debs.

Each of the parties (client, creditors and trustee) became legally bound by the terms of the arrangement when it came into effect.

I don't think that the AIB can override that, though I'm sure one of the experts here will correct me if I'm wrong.

Hi TDA

The Trust Deed regulation give the AIB power to direct the trustee on the administration of the trust deed.

It sounds like the middleman company promised anything to get a signature and this on the face if it was backed up by the original trustee. If there is equity to that extend, I think it's unlikely to be excluded by the current trustee.

Mark