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Do creditors have to accept the terms of the Protected Trust Deed?

April 26, 2017Creditors deed protected terms Trust

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Do creditors have to accept the terms of the Protected Trust Deed?

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Two thirds or more of your creditors by value of debt MUST agree to the proposals for the Trust Deed to be classed as protected. If they don’t, the Trust Deed can still go ahead but you will not be protected from further interest or recovery action.