Trust Deed Advice

MoneyIsEvil

Hello,

I am looking for some advice in relation to a query I have regarding Trust Deeds.

I am currently in a period of due dilligence and waiting for a Trust Deed to become approved and protected.

Within the creditors though are 2 which I paid after courts awarded Schedules of Inhibition on my property. They have decrees in place.

I contacted them both to advise of application to a Trust Deed.

1 HFC stated they did not recognise a Trust Deed and that due to the Schedule of Inhibition - would pursue the debt.

2 Tesco - solicitors acting closed their case and passed back to the creditor.

Do any of our experts on here know what happens to Schedules of Inhibition or Decrees once a Trust Deed is agreed and protected.

Any help appreciated.

Thanks

Jinx

I am most definitely not an expert, but my understanding of a trust deed (my mates hubby has one) is that once it is sanctioned by the court, the creditors cannot pursue you outwith the terms of the trust deed. So I think that HFC can pursue you now, but if the trust deed application is rubber stamped they will have no option but to fall into line...

I admin my own debt management plan and have been chipping away for AGES, on reflection I wish I had gone the trust deed route. Good Luck