Before you sign
- Gather debt balances, statements, and account references
- List income and household spending
- Discuss alternatives with a regulated adviser or insolvency practitioner
- Check how your home, car, and savings could be affected
Weeks 1–2: Advice, checks and proposal drafting
This is often the fact-finding and recommendation stage.
Weeks 2–6: Signing and creditor notification
After you sign, creditors are told about the Trust Deed. You may still receive some contact during this period while everything is being processed.
Months 1–3: Early adjustment period
Your first payments are usually set up and you begin living to the agreed budget.
Months 3–12: Settling into the arrangement
Most people start to feel more stable here if the payment is sustainable and the arrangement is working properly.
Annual or periodic reviews
Reviews are normal. You may be asked for payslips, statements, and updated bills.
Mid-term: Changes to income or life events
The key rule is simple: tell your trustee early. Problems are usually easier to manage when raised quickly.
Final year
Your trustee checks that all contributions have been made and any agreed asset issues have been resolved.
Completion
Once you have complied with the terms, the Trust Deed can complete and any remaining qualifying unsecured debt included may be written off.
After completion
- Keep your completion paperwork safe
- Check your credit file over time
- Rebuild financial resilience gradually