People sometimes worry that they will be chased for payments after their Trust Deed has been protected, However, once you enter into a Trust Deed, your creditors will be required to direct any contact to your Trustee, rather than to you personally.
A Protected Trust Deed uses formal legislation, meaning your creditors are legally bound not to contact you for any payments, as the payments for your debt will now come from your Trust Deed contributions.
If in the rare instance that you are in a Trust Deed and a creditor who is included in this agreement makes contact with you, you would refuse to engage in any conversation with them and simply refer them to your Trustee. Don’t worry about this, your Trustee will reiterate the terms of the trust deed to the people you owe money to at any given time.
It’s not uncommon for debts to be sold onto other companies, and the new lender may write to you to inform you of this process. On any such occasion, it is merely for informational purposes only and your Trustee will deal with this transfer on your behalf. All you need to focus on is repaying your agreed contribution as normal.