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Can a single creditor refuse the Protected Trust Deed and stop it progressing?

April 26, 2017Creditor deed progressing protected refuse Trust

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Can a single creditor refuse the Protected Trust Deed and stop it progressing?

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Yes they could, but only if they account for a third or more in value of your total debt. If they account for less than a third in value then they will be bound by the terms of the Protected Trust Deed regardless if the other creditors accept the terms.