Welcome to the forum AndreaJ.

I'm afraid this might not be very easy; you are bound by the terms of the trust deed you signed.

How much is your home worth in total do you think?

How much do you owe on your mortgage?

How much debt did you have at the start of the trust deed?

How much do you pay each month?

We can give you some better information if you can guide us on these things.

Hi AndreaJ

If your 25% is worth more than the total debt, then I'm unsure why you signed the trust deed.

As mentioned above, if you sell, the full 25% would go to the trustee. If this didn't pay off the debts in full plus costs etc, then they would continue with the contributions also.

Mark

Hi
Thanks for your replies. My home is worth roughly £85k and my outstanding mortgage is £7485. Trust Deed I signed was for £14289 (unsecured creditors)and total fees and costs were £4537. I pay £184 per month to the trust deed.

I did do it all in haste. I received the call one evening, and had a visit the next day. I should have investigated it more beforehand.

Thanks for any advice

Hi AndreaJ.

Have a chat with your trust deed firm. The equity will have to be dealt with at some point so if you are open minded about a sale this may contribute towards bringing the trust deed to an end.

After selling costs it sounds like you might raise in excess of £10000 to add to the £2200 PPI and £1500 or so made in contributions already.

I'm not sure it will be enough for an early finish though unless the sale price is high and the selling costs low. As well as the near £19000 of debts and fees there may also be some interest on the debts to consider for an early finish as well.