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This is the place to ask questions about Trust Deeds
#28127
I am looking for a bit of information, as my husband is going to start a trust deed for himself, and im just trying to find out if this will affect my credit rating? Also will him doing the trust deed cost us money?
#28146
Hello LeanneD

The Trust Deed will affect your husband's credit rating but not yours as long as you yourself are not also going into a Trust Deed.

In terms of cost, yes there are costs associated with a Trust Deed (a nominee and annual supervisors fees) but your husband will not have to find extra money to pay these himself. They will be taken out of the monthly Trust Deed payments he makes. as such you will not have to pay extra to cover these costs.
#28175
Hi LeanneD

As Geraldine has said you do not need to worry about your credit rating as it will not be affected. In addition your husband should not have to pay anything extra to start a TD, just his agreed monthly payments. If the company he is speaking to suggest anything else then he should get a second opinion.