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13/07/2012 4:52 pm
Friday the 13th will be a memorable day for me just phoned my IP firm to find out if my TD had become protected and was told that no objections so just the rubber stamp process now with AIB to register and will receive a letter and copy of certificate when they get it back. To say I am relieved is an understatement I can now look forward to the future. To anyone who is thinking about entering a TD I can honestly say I am relieved that I finally took advice from a good firm and went ahead especially when I read that the Halifax will be putting their overdraft fees up later this year, this would have meant that my fees would have gone from £1 a day to £2 a day. This would have pushed my finances to an even more precarious position and I would certainly have had to seek help then, just glad I did it now. The banks by increasing their charges are making it more of a possibility that people will be pushed over the edge and default on their debts. Many thanks for the support I have received in the last few weeks and keep up the good work[:D]
13/07/2012 4:55 pm
That must be really welcome news for you worriedmary.
Congratulations on getting the ball rolling in the first place so that today could happen.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
14/07/2012 9:36 am
Just wait until the SVR goes up to see how many people start to struggle with mortgages where they have overstretched themselves because the banks allowed them to borrow a silly amount based on their earnings.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
14/07/2012 11:49 am
Plasticdaft
I agree that some people will find it difficult when the SVR goes up. This will be the case as well for those not in any financial difficulty and don't have the foresight to tuck away a few pounds every month knowing the rate will be on the rise at some point.
But don't you think your statement needs a bit of balance?
I'm not saying the Banks are faultless (should never be self certification for salaries etc) but there is also a responsibility on an individual not to be borrowing money they suspect they can't afford to pay back. Also when the Banks do make an effort to be more responsible and not lend or extend lending to those who don't meet affordability criteria there is an outcry.
I have friends who have been through a trust deed brought on solely by themselves and reckless spending (no redundancy or illness etc) and they've not learned any lessons and I now see them following the same pattern - needs to be some common sense in a lot of cases by individuals as well as Banks.
14/07/2012 2:03 pm
There is a paradox there cannypay.
The banks have allowed their reputation to sink so low that they're being simultaneously blamed for lending too much and too little.
Hopefully in the long term they'll find a happy and responsible line between the two, but I doubt that it's possible for us all to be happy.
As individuals we can only protect ourselves by being very thoughtful about borrowing and by remembering that banks will inevitably put the interests of their shareholders before their clients.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
17/07/2012 9:46 pm
Great news "Worried Mary", I'm still sitting on the fence trying to cope every month. You've taken the first brave step, and now your Trust Deed is protected. Fantastic. I know I'm going to have to do the same and your post certainly gives me hope. Hope the next 3 years fly in for you
17/07/2012 9:51 pm
Great news worried Mary . I hope you feel relieved now, and a bit more in control of it all. Speaking to someone is the hardest step, but so glad it has worked out.
Hopefull55 your time will also come, when you are ready to speak to someone and get it sorted, just be careful things don't get any worse in the meantime.
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