It's always difficult to say how creditors will decide on these things, however in my experience, I can't remember ever receiving an objection to a proposal from creditors.

The Trust Deed is creditor driven, so there's no reason why your offer cannot be put to creditors for their acceptance/rejection. There's also no real reason why this cannot be put forward to the creditors by the Trustee as reduced the £51k to £16k.

Mark

I too think there is a reasonable chance of creditor acceptance of this kind of offer. From conversations we have had with the main creditor representatives, they do wish to avoid people having to sell their homes if possible and if a reasonable compromise can be reached.

Creditors are more used to dealing with IVA proposals than Trust Deeds anyway, under which there has always been more scope to put forward proposals where it is likely that a chunk of equity is being ignored if there is no way of realising the money other than selling.

after all our worrying how much we had to pay back we offered what we said we would offer and invocas got back to us to say that was too much and that we should pay the same amount for just another 2 years.3 cheers for invocas they've restored my faith in trust deeds.

That's wonderful news dlareg32.

You must be relieved and delighted?

Result! I hope you got that in writing though?

As Mark would say Kevin, belts and braces approach when it comes to things like this.

Always get things like this confirmed in writing dlareg32.