also if there is a subtantial debt on my file that will be statute barred in little under a year and not being contacted by the trust deed company seem rather unethical ? i mean if they hold out and not contact them till after the date then they will not be entitled to any monies and the trust deed company can then pocket the addition 1800 give or take ? or am i just being paranoid ? also ive never been told what the breakdown is ie what the trust deed are charging for their service and how much of the actual repayments go to the creditors ? they just sent me copies of my signed paperwork and what id told them i owed incomings outgoing etc but dont see anything yet materialising in where the money is actually going ? no schedule or breakdown

Hi mel79.

I'm not sure that the details of debts or your trust deed on your credit file are really relevant here.

It's up to your trustee to accept (or not) the claims of any company that expects to receive a dividend from your trust deed. Creditors will have to prove to your trustee that they are owed the money.

Debts can be sold once a trust deed is protected. This is actually very common.

Your trustee will be able to confirm to you how long your trust deed is due to run for. They don't report to credit reference agencies so if there is a mistake on your credit file it will not make a difference to how long your payments last.

The problem regarding a settlement (to bring the trust deed to an end) is that your trustee is likely to expect the £9,000 non-statutory amount to be paid over in full under the terms that you originally agreed to. Unless this, plus your contributions to date, clear the debt balances plus fees plus interest (in full) the trust deed is likely to run on I'm afraid.

Your trust deed provider will not benefit from a debt being statute barred.

The fees they're charging will be on the documentation you signed at the start. You should have a copy demonstrating the fees that you (and your creditors) agreed to.

Hi mel79

The records showing on your credit report are a bit of a red herring really. Inaccuracies may be showing, but that doesn't mean that any of the inaccurate information is binding on anybody. The statute barred thing isn't relevant either - by signing a Trust Deed you have interrupted the 5-year time period and the creditor can make a claim if they wish even after the 5 years expires.

The most important aspect to all of this is your redundancy money. As Trust Deed Assistant said, the statutory figure is yours to keep but any contractual entitlement over and above that may have to be paid across. This isn't instead of whatever you can afford each month but as well as, I'm afraid.

So you could well be asked to pay over the £9k and still have to remain in the Trust Deed for the 4-year period. Obviously your contribution payments should stop if you are unemployed, but if you do get bck into work during the Trust Deed then you would probably be asked to atart contributing again if you can afford to.

they have agreed a full and final settlement figure which is reasonable and leaves me enough money to last me a couple of months to try and find alternative employment which is good i was stressing out there but they did say the creditors may refuse and ask for more

and for the record i have never recieved a breakdown of fees and even up till today they have still not supplied this information, the document i signed at the start tells me the monthly payments and what my debts are as far as the information i supplied but doesnt show anywhere a fixed rate or percentage etc

That sounds very good mel79.

I do hope that your creditors agree to this settlement.

Ok so I couldn't log into this account and had to set up a new one, 28th sept 2014 I made a full and final settlement for just over 7.5k in nov I think WONGA wrote to me and said they were wiping all my debt because of the court case and true to their word updated my credit file today I'm still no better off and still waiting on Knightsbridge discharging me, found out from inland revenue my workwear claim for last five years was paid to them in October and PPI companies sent me letters saying I'd never had any (trust deed obviously applied on my behalf) which I knew already I didn't have any
AIB say no application has been made to remove me from the register or form 5 I think it's called and they can't understand why Knightsbridge are dragging this out

Hi MichelleG.

What explanation have you had from your trustee about the time that this is taking?

Well in feb when I phoned it was a specialist te
Are dealing with it someone will call you later today after a week of calling them I have up and decided to wait till the 6 months which they stated would be maxim
It would take was up