Hi matthew7603

On the figures provided, I see no reason why it would fail.

The last Trust Deed we had which failed was over 3 years ago as we deal with creditors on a daily basis, so know exactly what they are looking for.

I'm sure it will be fine.

Mark

Thank you for the reply. I just worry with what I have read about kpmg service after signing. I have been told they do a lot of work with the AIb bankrupt application. So i felt they must be good .

Hi Matthew

Sorry I don't understand the last bit, the AIB bankruptcy application means nothing to me and has nothing to do with Trust Deeds. Could you expand on this a bit a wee bit.

Mark

I have a friend that works for a debt advice company. He said that he finds clients that go for a LILA or Lili am not sure the expact wording often get outsourced to kpmg to deal with their program .

Hi matthew7603

I see. The AIB farm out cases to a number of IP's, but this has nothing whatsoever to do with Trust Deeds.

Follow all the rules, ask loads of questions and don't sign at the 1st meeting & I'm sure you'll be fine.

Mark

Its understandable to be fearful of the trust deed failing but rest assured it wouldnt be put to creditors by an IP if they thought it would fail,it makes no sense to do so and is a waste of time and money.

I am sure you will be just fine,but make sure you let us know.

Paul

Also Matthew make sure you read everything twice,and then go back and read it again!!

Any equity to be dealt with?

Paul

No I have no assets just the expenditure being excessive is my worry I have asked my adviser he said he feels its all reasonable. I have moved back with my parents but they are taking 400 a month digs from me I think it will cause a problem. It's that or i move back out costing me more.

Also that sounds a low amount to offer so could be the case if it fails they get the same fees in bankruptcy so make the trust deed offer sound attractivly low to secure I sign and either way they benefit

Creditors will decide on whats best for them,from a commercial point of view so if your best offer is put forward then you should be ok.

And as you say if you lived alone in a flat your expenditure would be higher. Can you cope with living back at home for the 36 months??

Paul

Hi Matthew

I'm sure it will be fine.

IP's generally know beforehand if it will be accepted or not as it's all to do with inc/exp and dividend to creditors.

Mark

I will need to , its not the worst. I don't mean to ask a lot of questions but a last one I would like to no is if they knock it back cab a third party then come in and offer to top up my payment?

Hi Matthew

Yes, there's always room for negotiating, although to be honest the initial proposal should have it all correct.

Don't worry, it will be fine I'm sure

Mark

Matthew i have had dealings with the above named company. My suggestion to you is go to the meeting but do not sign anything right away as mark has said above, i would definitely way out your options and look at all firms who offer a trust deed before staying with just one company. I am not saying one is better than the other but its always good to looks at various option. You have to feel comfortable in yourself as well as the company and the route you are about to take. So looking around before u make a comittment won't do you any harm.

On your meeting i would take a list of questions with you and ask every one and then make notes so that so you can refer back to. Read and reread any paperwork so you know what lays ahead of you. Then go home and have a think. This keeps you right and gives you the relevant amount of time to make your desicion before signing. Also make sure you way out all other options on what debt solution maybe the best for you.

Also i would suggest after your meeting to come back here to the forum and express any concerns you may still have, you can never ask too many questions. I am sure everything will be fine, i have been where you are and i can very much relate to your worry and nervousness to it all but believe me when your in the right solution you will feel better about it all.