The main purpose of a Trust Deed is to take all of your unsecured debt, calculate how much of it can be paid within a 4 year period at an affordable rate and write off the remaining balance. Leaving you debt free.
A Trust Deed is a legally binding agreement between you and your creditors to pay back a portion of the money you owe over a set period of time (usually 4 years). At the end of the agreement, if you have followed the conditions of the arrangement, any remaining debt will be written off.
