Hi tonto

Your Trustee needs to do one of 2 things, either petition for sequestration or seek his discharge.

If he had petitioned, i'm sure you would have heard by now and if he had sought his discharge, you would have received a letter confirming this. If you go to the Accountant in bankruptcy website you can check on the Register of Insolvencies for an up to date position.

Mark

Hi there, thanks for replying so quickly.
I have been discharched from the Trust Deed. I'm just wondering about my position with regards to the two creditors that objected to my initial application. Do you have any advice?
Many thanks for your help.

Hi tonto.

I suppose that the creditors do not have to chase you immediately for payment, but the situation remains unresolved and is likely to come to the fore again at some point.

Were the reasons for the objections communicated to you?

Did you consider bankruptcy when the trust deed failed to become protected?

Hi there,

Nothing was said about why they objected. It all seems a bit odd that all the creditors that didn't object were the first to contact me and the ones that did, didn't.
I didn't consider bankruptcy at all.

Ps, do you know how this all affects my credit rating? My payments are up to date with all my other creditors!

Thanks again for all your help.

Hi tonto.

None of us are credit record experts, but my guess is that if you aren't paying certain debts and you signed a trust deed your current credit record will be quite poor.

You are also exposed to legal action which could worsen the situation in this and other respects if it happened.