Trust Deeds

What is a Trust Deed?

A Trust Deed is backed by government legislation and allows an individual the scope to put a proposal to their creditors for the part repayment of their debts. This results in an element of the debts being written off - typically up to 90% can be written off. An individual Trust Deed proposal is tailor made to meet each client's circumstances and generally lasts for three years.

As part of the Trust Deed process, the amount you can reasonably pay towards your creditors on a monthly basis will be assessed, and a Trustee will accept this payment on behalf of all your creditors. The trustee will also make arrangements with you regarding how to deal with any equity in your home or any other assets - giving you some stability for the future. Your creditors will receive a payment at the end of the Trust Deed from your Trustee, and thereafter your Trust Deed (and your debts) will end.

The key to a successful Trust Deed process is to have it "protected" by setting out a credible proposal to the creditors at the onset. At WB Debt Care, we have been putting clients' Trust Deeds forward to creditors since the introduction of the Trust Deed framework of 1993. Understanding and balancing the needs of individuals and creditors has given us a 98% success rate in having our Trust Deed proposals successfully becoming protected.

Advantages of Trust Deeds...

• One monthly, manageable payment;
• Stops creditor legal action against you;
• Make arrangements to avoid losing your home;
• Clear up to 90% of your debts;
• Freeze interest and charges

For a free assessment of your situation please Use Our On-line Enquiry Form

Further Information...

AIB - Trust Deed Guide
This leaflet gives general guidance on trust deeds. It is aimed at people who might be thinking about signing a trust deed but it will also be helpful for people who are owed money by someone who has signed a trust deed. It is not intended to be a complete guide to the law. This leaflet reflects the rules in force from 1 April 2008. For protected trust deeds that started before 1 April 2008 see the AiB publication ‘AiB 7 – Protected Trust Deeds’.