Frequently asked questions (FAQ’s)

Please see a selection of the most popular questions below. If there is a question that is not answered here please don't hesitate to get in touch.

Will a Trust Deed effect my credit rating?

You will be breaking the initial terms and conditions with your creditors if you enter into a Trust Deed, so this will have an adverse affect on your credit rating.

It is important to remember that if you have already been missing payments or have been turned down for credit then your credit rating may already be poor. A Trust Deed will allow you to know exactly how much you have to pay and when you will be debt free.

Do I have to pay for a Trust Deed?

Trust Deeds are typically spread over 36 payments (3 years) and you should not have to pay any additional fees. Your Trust Deed can only be supervised by a Licensed Insolvency Practioner who will charge a fee.

These fees are automatically deducted from your payments which is agreed with your creditors.

How long does a Trust Deed last?

The majority of Trust Deeds will last 3 years (36 monthly payments). In certain circumstances a Trust Deed can involve releasing equity from homeowners properties (equity depending). However, we will discuss this with you if applicable for your individual circumstances.