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What happens at the end of the Trust Deed?

April 26, 2017deed happens Trust

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What happens at the end of the Trust Deed?

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Any remaining debt will be written off after the (maximum) 3 years – and you will be free from debt.

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The trustee, after deducting costs and his remuneration, will distribute the realised funds to your unsecured creditors in full and final settlement of everything you owe. This means that at the end of the Trust Deed the creditors will have no further claim against you and, as far as you and the creditors are concerned, the balance of any unpaid debts is written off.