I am pretty sure the 5 weeks is set in stone from a legal point of view.

Paul

Hi Delboy69.

I think Paul is correct.

The five week period isn't just for the benefit of the creditors that your trustee has written to. It's also to allow other creditors that you may have forgotten (or have been unaware of their claim) to come forwards to your trustee with a claim.

Its a good point as we have Trust Deeds where all claims have been received by the 3rd week. Unfortunately its part of the legislation and I suppose give time for other creditors to notify the Trustee of their claim as TDA says or I suppose for creditors to withdraw their earlier acceptance, although I've never seen this happen.

Mark

Hi Delboy69,

As Paul and TDA have advised, it's a fixed 5 week period.

Upon the expiry of the 5 weeks your Trustee will send paperwork to the AIB confirming that any creditors who objected (if any) in the period do not constitute a majority in number of the creditors or one third or greater value of creditors. Upon receipt of this confirmation the AIB will then record the Trust Deed in the Register of Insolvencies and in layman's terms effectively making it protected. It can take a week or so for the paperwork to be completed and sent to the AIB after the 5 weeks.

If your two creditors have submitted claims in your Trust Deed and not objected then this suggests that things should be fine. Normally creditors will accept/reject the proposal in the first couple of weeks.

Give your Trustee or relationship manager a call for an update on your case.

Thanks Guys

I was thinking along same lines.

Ah well, a week and a bit to go before my TD hopefully becomes protected.

Del