All the answers: 5 frequently asked questions about Trust Deeds


As a company, our focus is always to help you through the journey that is dealing with debt – but have we ever stopped to give you the explanation you need?

We champion the ability to not let your debt become the elephant in the room, and we understand that there’s a lot to think about when it comes to being in a Trust Deed. That’s why we’re giving you the answers to the top five questions that you ask every day.

Before we get into the nitty gritty, it seems proper to explain that some of these answers may differ depending on circumstances and may not apply to everyone. There isn’t a one size fits all answer to anyone’s money problems, and we will always work to make sure that we take the course of action that’s right for your situation.

The questions

Now that we’ve got that out of the way, let’s get to it.

Can I add debts to my Trust Deed once it’s protected?

Put simply, yes you can. It is possible to add things to your arrangement once you are in it, but this is dependent on a few things.

When you’re dealing with debt it’s easy to forget some, and in some cases, they will only be flagged to you afterwards. In these cases, all we request is a copy of any statement/letter from the company in question that shows the outstanding balance and reference number.

Once we have this information, our team will contact the company to advise them of your Trust Deed, ask them to stop all action, and ask them to submit their claim to the arrangement in order to be paid.

However, if the debt was taken out after your arrangement was protected, or if the debt is found to be of criminal or fraudulent nature, then we would not be able to add this. If this is the case, then you will need to arrange to pay this outwith your Trust Deed and we will alter your expenditure to suit.

What happens if I come into money during my Trust Deed?

It’s written into the terms and conditions of your arrangement that if you are due to receive any form of ‘windfall’ such as inheritance or PPI, then this will need to paid into the Trust Deed to be paid toward your debts. This is because these funds are considered to be an asset by your creditors, and it will give them a better return in the long run.

If the amount received is enough to cover your debts in full, then we will do so and pay any leftover funds back to you directly.

What should I do if my circumstances change during my Trust Deed?

No one’s circumstances stay the same for four years, and we understand that things happen, which is why we have processes in place to prepare for this.

If something is to change, such as the loss of your job/benefits or your become terminally ill, you must notify us as soon as possible. We can reassess your income and expenditure in order to make sure your payments remain affordable.

If it’s an emergency, or the change isn’t permanent, then you have the option to request a ‘payment break’ for up to six months to allow you time to resolve the issue. However, for this to be put in place, you will need to provide evidence to show the reason you cannot make the payment.

Can I take out credit when I’m in a Trust Deed?

As a rule of thumb, we advise our clients not to attempt to take out any further credit when in their arrangements. This is because your Trust Deed will signal to lenders that you haven’t been able to manage your debts before.

If you find yourself in need of credit for an emergency or to help you fund something that is needed for everyday living, then it’s important to speak to us first. Depending on the amount and the reason, you may need permission from your Trustee before proceeding.

Any credit that you take out after you have entered into a Trust Deed will not be included in your debt plan so you will need to continue to make the monthly payments. If you fall behind on these repayments, these debts won’t be protected by your Trust Deed so lenders are within their rights to add fees & charges and pursue any debt recovery action against you.

What happens once I have made my last payment to my Trust Deed?

Once you have made all the due payments to your arrangement, it will be passed to our closures department to complete all the necessary administration work needed for the Trustee to discharge you.

As long as you’ve met all obligations of the Trust Deed and nothing is outstanding, then you will be sent your discharge papers. At this stage, any remaining debt you have, with the exception of any ongoing debts that weren’t included in the Trust Deed, will be written off.

Creditors will no longer be able to chase you for the debts and cannot take any action against you to recover the balances.

If you have any questions that we haven’t answered here, call us on 0800 043 1320. Our expert money advisors are available to help guide you through your Trust Deed and give you quality service every time. 

You could write off up to 75% of unsecured debt with our debt assistant.

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