I was up to date on all my payments but was at the stage where I knew that I could not continue robbing Peter to pay Paul.... So there is no need for you to have defaulted in any payments before looking at a PTD....

hi stressed out, porcupine is correct, you do not need to be behind in your payments to enter a trust deed. However, before an earnings arrestment can be placed, the crediton would have to have been to court and got a decree, then they would have to serve you with a document called a Charge for Payment. This give you fourteen days to pay, and then they can arrest if you have not paid. Have they been to court, i would think not if you are up to date ?

thanks for the comments,
no not yet thank goodness up to date but cant continue much longer.

I was completely upto date with all my creditors when I entered into mine and found that due to this my 5 week wait for protected status I only had 1 creditor call me

They have started today though and I was on protected status Friday 😉

Unless legal action has already been started before signing a trust deed then there is very little chance that a creditor would have enough time to go through the procedure described by Shona before the trust deed becomes protected, stressedout.

Read your posting and that of the Trust Deed Expert Shona.

I am now out of my 3 year trust deed with Henderson Loggie and Shona could not have been more helpful.. Any queries i raised sxhe always answered quickly as she knows how stressful debtors find the whole issue of being in debt.. She is very considerate and professional (is that spelt rite).

I wish you luck there is light at the end of the tunnel if you choose a good trustee and a trustworthy firm. i have heard there are a lot of sharks in these waters, by Shona not one of them.. Thanks again to Shona.

John
Stirling

Thanks John, that was very kind of you. Now go and enjoy life!