Hi kdog7,

It sounds like you could be one of the lucky ones. If you don't have a long list of creditors or all of your debt is with one or two organisations then sometimes the proposal that is sent to the creditors is enough to prevent them from calling you.

Eventually what normally happens is the main creditor will pass a batch of ÔÇ£non payersÔÇØ to their debt collection company and you may get some letters or phone calls from them. If you do just advise them you have signed a Trust Deed and let your relationship manager know so they can contact the company for you.

1 week to go until the end of the 5 weeks. Some people say that the 5 weeks can feel like a life time and others say it passes quite quick. How have you found this period kdog7?

I have found it long David. I have always been a good payer of debts and never had a default or bank charge in my life. Just recently things spiralled out of control. It was a hard decision but one I made for long term future. 5 weeks have felt like a lifetime as I am on edge waiting on the letters and phone calls. Its a situation I am not used to but a bridge I will have to cross.

All well so far and hopefully the proposal will be enough to stop them calling. I feel my TD proposal was quite fair.

Hi kdog7

Most people think that the Trust Deed proposal is send to individual creditors, whereas the vast majority are dealt with by The Insolvency Exchange who will make the decision on their behalf. As a result, I've found that TIX (as we call them)will update the accounts for the majority of the creditors and this in turn should stop the calls.

The 5 week period is part of the process, most firms will know beforehand if a proposal fits the criteria before it is sent out.

Mark

Thanks Mark

My firm was french duncan. I was put onto them by stepchange. They did seem very good.

Hi Kdog, you are lucky, I keep getting calls not stop, sometimes 5 times a day from the same creditor. Our TD's were published on the same day. The creditors that are calling/writing to me are the ones where the proposal was sent to the Insolvency Exchange and the creditors are saying that they haven't received anything. It's really stressing me out! 🙁

I can imagine mercy. Im stressed and I have had nothing. Even got a letter in to increase my CC limit. I am wondering if they reinstated my direct debits or something. No going into the bank to ask and too scared to log onto online banking as it tracks when you log on.

My old bank (one of my creditors) has closed my bank account as I can't log on anymore. I wouldn't worry about logging on, I go on to all the accounts to see if they have been closed but 2 are still open (the ones that keep chasing me) I would log on to double check. Good luck with your TD and I hope it gets protected for you.

Thanks Mercy. Know soon enough, suppose its not the end of the world if it doesn`t though 🙂

Just logged on RBS has taken my loan repayment from my overdraft. I left account balance at zero on my RBS current account although 1k was available as an overdraft. Loan repayment has been taken for last month

Hi kdog7.

I don't suppose it matters? One balance goes down, another up. The amount owed to the bank overall doesn't change.

yeah TDA my current account was written into the deed anyway.