Hi fedup58.

A natural worry, but please have a read of the interview pages with Mark, Kevin, Shona and Chris so see the percentage of cases that they experience becoming protected (for a bit of reassurance).

If the worst were to happen, you'd be in an unprotected trust deed. Usually people would turn to other methods to deal with the debt if this happened.

Thank you TDA , i`ll do that now

you do a sterling job by the way :-))

Hi Fedup58

I had the same worries - it seemed to drag the 5/6 weeks until I got the news that I was protected. As TDA says the percentage is extremely high for protected trust deeds and I am sure you will be in the accepted percentage.

It is stressful but just take one week at a time and let us know how you get on!

🙂

Ye hopefully you`re both right and it`ll be all accepted , doesnt stop me wondering tho , do creditors accept trust deeds becasue its the best there gona get , my mortgage is all up to date and i have little equity , and i`m keen to pay back as much as i can , it`s money i owe after all , its just if they refuse it and i`m forced to sell up all thats gona be relesed form my equity is enough to pay expenses and little more , so i`m maybe i`m answering my own question lol

From a commercial point of view the lenders are weighing up whether this is the best option open to them.

For example, if your trust deed failed to become protected and you became bankrupt would they receive back less or more?

They seem to believe that it will be more, provided that your trust deed is aligned with the acceptance criteria they make insolvency practitioners aware of in advance.

Most Trust Deeds do becoe protected. However, if there was a problem, yout Trustee would come back to you and the creditors to see if the stumbling block can be over-come. I am sure it will be fine.