Trust Deeds | Frequently Asked Questions

• All of your interest is frozen
• There is no set up charge
• You will be free of all debt within approximately 60 months
• You will have only one affordable monthly payment to your creditors.
• All creditors are bound by the Deed and are therefore prevented from taking legal action and all pressure from them is stopped

The Trustee has to comply with Money Laundering Regulations and Proceeds of Crime legislation and confirm your identity. This also applies to any third party who may provide funds on your behalf unless paid through a solicitor who is required to undertake his own checks.

Not usually, as the Trustee will provide consent if needed and as long as monthly contributions are paid to your Trust Deed.

Your creditors have no direct claim against your pension fund however your Trustee must assess your ability to pay monthly contributions from all your sources of income including pension benefits.

No it will grant the creditor a form of security if in place prior to the Trust Deed.

The Trustee can normally accept a lump sum to complete your payment agreement at any time. The source of funds will need to be verified.

You must inform the Trustee and provide full details as your Trust Deed creditors are entitled to benefit from this.

It is up to the individual creditor whether they update your credit file, and the credit rating can take from 6 to 15 years from the end of the trust deed. The Trustee has no responsibility for this.