A Trust Deed is a legally binding agreement between an
individual who is unable to pay his or her creditors and a licensed
Insolvency Practitioner (the Trustee). The Trustee will put
together a form of proposals to the Creditors for approval and
administer the Trust Deed. It allows you to pay as much of your
debts as your assets and/or your monthly surplus income will allow,
usually over a three-year period.