Trust deed

lindsey30

Hi wondering if somebody can help. i entered into a trust deed in august 2009 but i still keep getting letter's from my creditors, i have posted them back to my trust deed company, but this morning i got another letter from one of my creditors with a fee for a debt collector am worried that am going to be hassled for money by them, i will post the letter i got this morning back to my trust deed people. Just really worried

Charco_2

I wouldn't worry too much.

Did your Trust Deed become protected then in August?

The Banks will always say some guff like "it just takes a little bit of time for the details to become registered on our records in the meantime it's our policy to keep sending the demand letters blah blah blah"

In reality, your banks could transfer these details instantaneously and have their records up to date up to the minute but if they squeeze one last payment out of you or some other debtor then it's worth their while to drag their heels... if your Trust Deed has become protected then you dont have to give these letters a second thought!

lindsey30

yeah it became protected in august, ive sent all the letters to my trust deed company so am sure it be ok

Antoine_Roquentin

If you are protected you will be fine.

The banks are huge lumbering organisations and many of them outsource their bankruptcy work. Quite often the companies who they appoint are lax at telling the banks what goes on. For that reason the automated letters just keep getting churned out. I am sure if you were to ask the staff at your trustee they would be as frustrated with the time it takes to get the banks to stop hassling you as you are. Some might even suggest it was a deliberate tactic of the banks.

Andrew09_2

Lindsey30

Don't worry the trust deed is protected and therefore the creditors are unable to enforce any legal action against you.

Its not a deliberate action by the bank either, the information sometimes just takes a while to filter through.

Simply collect any letters you get and send them to the trustee

Relax you will be fine.

moneysavingexpert79

I get debt collectors phoning up after a TD has become protected, asking for a member of my family, and I pretend to be mentally ill. They soon get the message.