For free and impartial money advice and guidance, visit MoneyHelper, to help you make the most of your money.


Will a Trust Deed Affect My Partner? 2022 Laws

Will a Trust Deed Affect My Partner

For free and impartial money advice and guidance, visit MoneyHelper, to help you make the most of your money.

Entering a trust deed agreement could raise several questions. One common concern that people worry about is whether or not your trust deed will affect your spouse or partner. 

Keeping the subject matter in mind, I have compiled this complete guide with all the information you could need before applying for a trust deed

This includes FAQs and everything else you need to know. 

Can my trust deed affect my partner?

If you enter a trust deed, it will not affect your partner or spouse. However,  if you have joint debts, you could both be equally responsible for your payments. 

Can my spouse be forced into paying my trust deed?

Your credit agreement is signed in your personal name. This means you are responsible for making your debt payments yourself. 

Your partner or spouse can not be forced into making your monthly payments. 

Moreover, your creditors are forbidden from revealing the details of your trust to your spouse, unless you consent to it. 

Will my trust deed affect my employment?

No, it is very uncommon that your employment will be affected by your trust deed agreement. 

However, I would advise you speak to your company’s Human Resource team if you feel it could be a matter of concern. 

Is it necessary to inform my spouse about my debt agreement?

It is possible to complete a trust agreement within a period of four years without your spouse finding out. 

However, you could be advised to be transparent about your financial difficulties to prevent future disturbances. 

will a trust deed affect my partner

What will happen in case of a jointly applied trust deed?

If you have joint debts with your partner, you both will be expected to pay an estimated amount of share towards your debts. This is mutually agreed between you and your trustee. 

In case the relationship is broken, each individual will be responsible for their own share of liability. 

What will happen to the equity of a jointly owned home?

If you are a homeowner who is starting a trust deed, you will be expected to release all equity from your property. 

However, if your property is jointly owned, then equity will be equally shared between you and your partner. 

Can my trust deeds affect my parents if I stay with them?

No, it is unlikely that your trust deed will have an impact on your parents. Since a trust deed is a legal agreement made in your name, it can not harm your family. 

Can I pay my partners debts?

You could be able to help your partner to pay off their debts through a trust deed

Moreover, you could become a joint owner of the asset or apply for a debt solution together. 

However, a trust deed can not continue if your partner stops contributing to their share of expenses. 

How can my family help with my trust deeds?

Your family, partner, or spouse could help in a number of ways with your deed of trust. 

This includes: 

  • Paying installments: 

If you can no longer afford to pay your monthly installments, your partner could help make contributions. 

  • Make investments: 

Your family could make investments on your behalf. Moreover, they could help pay your disposable income. 

  • Become a joint owner:

Your partner could help pay off your joint debt. This is after becoming your debt partner. They could help raise money that is required for remortgaging your house so you do not have to sell it. 

  • Sell and then rent back:

It is possible that in order to avoid selling your home, your partner could purchase it and then rent it back to you. 

Will my family know if I enter a trust deed?

It is possible that your family or friends find out about your trust deed agreement

This is because your name and information is entered in the Register of Insolvencies. This is maintained by the Accountant in Bankruptcy, which is publicly available to everyone. 

Frequently Asked Questions (FAQs) 

Do I need to inform my trustee if I receive inheritance?
Yes, it is essential you inform your trustee about any sort of windfall that you receive. Your trustee might reevaluate the terms of your agreement. In case your windfall exceeds the debt amount, the remaining money would be returned to you.
How long would it take to enter a protected trust deed?
It could take approximately 7 to 10 weeks to complete the processing of your protected trust deed. However, it could be different for everyone.
Can my creditor contact my family for payments?
No, your creditors can not force your family to make payments for you. However, if you have joint debts then your creditor could approach your partner to make their share of payments.

To conclude:

Your trust deed agreement will not affect your partner directly. Since it is a legal process in your name, you do not have to worry about your spouse getting forced to make payments on your behalf. 

However, I would advise you speak to your partner before approaching an insolvency practitioner. 

Read the guide carefully to get a better understanding about the subject matter. 

If you feel we have missed out on anything, feel free to contact us or contact your insolvency practitioner for legal advice.


Are you struggling with debt?
Are you struggling with debt?
  • Affordable repayments
  • Reduce pressure from people you owe money to
  • Stop interest and charges from soaring