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Advantages

Trust Deeds offer a number of advantages over sequestration (bankruptcy):

  1. Your Trustee deals with your creditors. You no longer have to.
  2. You make just one payment per month from your disposable (surplus) income
  3. With a Protected Trust Deed, your creditors cannot take further action against you, arrest your earnings or continue to charge interest.
  4. Unless your employers are one of your creditors, there is no need for them to know that you have signed a Trust Deed.
  5. It can be possible for individuals to hold certain public offices, remain as directors and for companies to continue to trade.
  6. Trust Deeds normally last three years. When it ends, the remaining debt is effectively written off.
  7. Trust Deeds are usually more flexible and cost less to administer than sequestration.

 

 

 

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