January 27th, 2012

trust deeds can help with multiple debts

Posted in by admin

Protected trust deeds are used as a way of remaining solvent after other avenues have been exhausted. You are trying to repay your unsecured debt but it is just not going to be possible. What happens is that all your unsecured debt is collected together. Notice that this is unsecured debt. This means that your mortgage is not part of this. It is for credit cards, store cards, and unsecured credit lines. With protected trust deeds you can’t be forced to sell off your assets like your house so it won’t affect your mortgage. At the end of the agreed time of the trust deed you will be debt free but your credit rating will be zero making it difficult to get credit on even the smaller items like household goods, mobile phones or even a car loan.