Protected Trust Deeds Example

Protected Trust Deeds Example:

Mrs F. owed £31,500 and was paying over £570 per month which she could not afford. She was getting deeper into debt, and becoming more stressed. She had a large family, and her marriage had recently broken down.

After careful appraisal and review, she signed a Trust Deed, agreeing to pay £250 per month to her creditors for 3 years. At the end of this period the balance of her debts will effectively be written off, and she will be released from the Trust Deed.

Protected Trust Deeds Example:

Mr. Q owed £21,000 and was struggling to make monthly payments of £360. He had equity of £10,000 in a house he owned with his partner. After discussing the position with his family, he signed a Trust Deed. His Trustee sold his share of the equity to a family member.

Mr. Q is now paying £200 per month for three years. The cost of the Trust Deed will be met from the contributions he pays to his Trust Deed Account.