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Topic starter
31/05/2022 8:39 am
Hi
Wondering if you could help. My trust deed outstanding debt balance hasn’t been updated. There is two creditors on there which one of the debts have been cleared years ago & the other one has been taken over by another creditor which is also included in my trust deed. I told my trustee about this and they said it would update once all creditors got back to them. However 8 weeks later the balance is £3000 more than it should be. How do I sort this? Is this something that does need to be updated asap or does it not make a difference?
Nicola Clark
Topic starter
31/05/2022 8:41 am
Just to confirm as well my trust deed has only become protected on the 27th may this year so not sure if that makes a difference either
Nicola Clark
31/05/2022 10:37 am
Hi Nicci_36,
I don't think this really matters at this stage.
Your trustee will verify the balances with the creditors before they can receive any payment from your trust deed.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
31/05/2022 10:42 am
Morning Nicci
The list of creditors is an estimated statement of affairs. Please be assured, this will work itself out in due course.
Can you confirm what the debt level is after deducting the £3k creditor. The reason being is that to enter a trust deed, your debt level must exceed £5k.
p
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Topic starter
31/05/2022 12:43 pm
Perfect thank you [:)] my debt level minus the £3000 is £12,500
Nicola Clark
