Its a normal range of emotions you will go through. Scared, disbelief, joy etc etc. They all come in to play at some point.

Your trustee wont be in the habit of putting forward something which creditors wont like. Good luck. It was the best thing we have ever done.

Paul

Thank you Paul, I am actually looking forward to embracing the change, I'm sick of worrying.

Hello Stephanie.

Have a read of the interviews with Mark, Kevin and Chris (on the main menu).

You'll be reassured I think about the percentages of their trust deeds that become protected trust deeds.

Hi Stephanie,

It is normal to be petrified. Most people that we deal with are always very nervous when entering into a Trust Deed. Following the Trust Deed meeting most people advise that it's a sense of relief and you can actually see a change in someone from when you first meet with them to when they sign the Trust Deed.

The advisor that you are dealing with should be able to give you a good idea on the likelihood of your Trust Deeds becoming protected or not. Should the Trust Deed proposals be rejected and it's enough to stop your Trust Deeds from becoming protected then your Trustee can try to negotiate with the creditor(s) that have objected to it.

If they are not prepared to accept the Trust Deeds then you could consider Sequestration or a Debt Arrangement Scheme. Again, your advisor should discuss all of this in full before you enter into your Trust Deeds to ensure that you know exactly what will happen.

I would make a list of questions/concerns that you have for your meeting on Friday all of which a good advisor should be able to answer and put your mind at ease.

If you're really worried give them a call before Friday to ask some questions.

Thank you x

Good luck Stephanie, let us know how you get on. And remember, if there is something crops up that you aren't sure about then don't be afraid to ask.

If you aren't sure about going ahead then take some time to think further or get advice elsewhere - there is no need to rush into anything.

quote:

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Originally posted by Stephanie

My husband and I have decided to go ahead and sign our trust deed, and we will on Friday of this week. Is it normal to be this petrified? We both can't sleep at night for worrying about it. Will it get protected status? What if it doesn't, what's next? How we are going to get through the next 5 weeks I don't know, until I know it's protected I just can't stop worrying.

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During my Trust Deed I have only felt petrified on three occasions. Once, while I waited for protection. Then again when I got my first review form through. Now I am a little nervous waiting on my discharge (but the guys on here set my mind at ease!).

So yes - it's natural to be petrified, but seriously there is no point in worrying about it and letting it affect your sleep [:)]

Thank you, I hope you're right !

Usually - A Trustee won't submit the Trust Deed unless they are confident it will be protected [:)]

Good luck to both of you stephanie,hope it all works out for you.