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Trust Deed

A protected Trust Deed is another form of insolvency. It is a legally binding voluntary agreement between yourself and an Insolvency Practitioner (Trustee), and lasts for a set period, which is agreed at the outset.

An offer is put to your creditors in order for the Trust Deed to gain protected status. If the creditors accept the offer, creditors can no longer pursue you for the debts in your Trust Deed. If the creditors object, you may end up being sequestrated.

The Trust Deed allows you to pay something towards your debt, knowing that interest and charges are frozen. The Trustee has a duty to realise their interest in any assets, and collect any disposable income which you may have, by way of a contribution.

Contact us now to see if a Trust Deed is right for you.

 
 
 
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