I would rest easy as most creditors dont object at all and know the returns from a trust deed are greater than that through sequestration.

Its not long now so fingers crossed protection happens soon.

Paul

Hi Thebigchap

Most firms will be 99% sure the trust deed will go through before it is even sent as we work to a certain criteria for most creditors.

If its any help, the last trust deed we had which did not become protected was over 4 years ago.

Relax, I'm sure it will be fine.

Mark

I am certain that the calls you have been receiving will be nothing at all other than the normal collections calls that you would get whether or not you had signed a trust deed.

You will undoubtedly find that the department making these calls is not the same one as that dealing with the trust deed proposals sent by your trustee and it is very common for the two different parts of a bank not to communicate at this stage.

Hi TheBigChap,

Well done on taking steps to deal with your debts and enter into a Trust Deed.

You said that you signed your Trust Deed 4 weeks ago. Creditors have a period of 5 weeks from the date your Trust Deed is advertised in the Edinburgh Gazette to lodge their objections. Normally when you meet with an advisor and sign a Trust Deed it's then advertised within 7-14 days of this. I would check with your Trustee to see when your Trust Deed was advertised and when cut off time is for creditors to object. I wouldn't like for you to think that the period for objections finishes next week and then find out on that day that it's a week later.

As others have said, I wouldn't worry about the phone calls. For the majority of Trust Deed proposals these are not sent to the creditor but a separate company appointed to review the Trust Deed proposals on the creditors behalf. It will probably be a call centre calling you who have no idea about your Trust Deed and only job is to talk you into making a payment. Let your Trustee know about the hassle and then can deal with it for you.

I'm sure your Trust Deed will become protected after which you should relax and count down the payments till the end.

Start to come up with creative ways to tell creditors your're in a trust deed. I suggest google translator for foreign language options as some of them clearly don't understand the concept in english.

I'm sure you'll be fine. If there had been an issue, I'm sure your trustee would have been in touch.

Hi guys and thanks for your replies , i signed it in January went in on February 1st so it's 5 weeks on Friday but I prob won't find out till Monday as they have up to 5pm and that's when the close bah! But reading your posts have made me feel less stressed. Cheers I've also downloaded a free app that translates into every foreign language ! Cheers everyone

Hi BigChap

Hopefully it went through ok. Se nadyavame, che tya premina prez OK.

Who needs a translator!

Mark

PS It's Bulgarian