Hi andy

I see no real reason why this should be the case. Best idea would be to speak with your trustee and get assurances on the points raised.

I have a recent Trust Deed with funds just recently received and would expect the have all creditors paid and the case discharged in 4-5 weeks.

Mark

Just make sure that the money isn't handed over until you have some kind of assurance in writing.

Hi Kevin, would an e-mail count as an assurance in writing? thanks

I guess so. It is really just so that you have some evidence of what you have been told in case your case manager is suddenly hit by a bus or something!!

Anything thats discussed by phone should be backed up by email,at least then there is evidence should a case manager forget whats been agreed!!!

Paul(all human after all)

Hi Andy, this time lastweek, i was in a very fortunate position to have a 3rd party pay off my TD. Through this site and a few calls to and from Mark McFadyen(Philip Gill) the funds were paid in the following day and as Mark says in the above post i should be discharged in 4-5 weeks. So a BIG THANK YOU! to him and his team. Best of luck let us know how you get on.

Great news mazda 5.

It doesn't seem so long since you first started posting here before going ahead with a trust deed with Mark. Congratulations on reaching the "other side".

Thank you very much TDA. I don't know where the time has gone, iam just glad that i found this site to help me through the tough times.Its a great feeling, knowing that our TD will be finished in the next couple of weeks. So a big thank you to you and all the other members who contribute to the site.

Hi mazda5

I told you it would fly in. We have all claims from all creditors received and agreed, so the closing will be straightforward. Unless you have PPI!! (Just kidding!)

Mark

I still have 34 payments left on my Trust deed but thanks to a 3rd party, may be able to pay this off early.

If I did so does that mean the Trustees Fees will be less, in that event will my creditors get more money or do I not need to pay the equivelant of 34months payments ??

Hello Seany Boy.

It's not automatic that you can end your trust deed early in this way. Your Trustee will need to weigh up what is in the best interests of your creditors. I'd suggest talking it through with them when you can.

The fees for the trust deed firm might be reduced which could result in your creditors receiving more than initially was expected.

Thanks

Hi

I would agree with TDA- If less time is spent administering your Trust Deed, then the fees should be less in theory. In reality, most of the time spent on Trust Deeds is at the beginning. However if you still have 34 months remaining, I would think there should be some scope for reduction in fees. Only your Trustee can tell you if it is possible, and how much would be expected from the 3rd party, so get in touch with them.

Hi

First time on the site.
I am currently in a protected trust deed. It is in my name only. I have made 8 payments and a third party is willing to settle this for me early.

How does this work?
Does the third party pay the rest of the agreed payments in full? Or are there other charges to be met?
I assume this is at the discretion of the trustee.
Finally,if this could go ahead,what implications are there for the future? i.e credit record etc.

Thanks in advance