Scottish Trust Deeds Help and Advice

Miss_Poohs

Hi there - sorry for delay, just caught up with this thread again.

My husbands DAS was set up by a local authority debt advisor - lovely guy, no pressure, came to house and everything.

It was all dealt with by LA advisor, my husband gave him his "list" of debts and the advisor done the rest. We didn't hear anything within the 14 day period (I think it was) so by not rsponsonding they accepted the DAS.

Personally I don't think alot of companys are aware of that yet, being that most of them are English based companys.

We started down the DAS route in April of this year - and it was agreed and running by July. Ohs is paid via standing order by PayPlan on a monthly basis.

If my husband had told the truth I think it's something we could have coped with for 13 yrs, but for what ever reason he kept a few wee debts issues tucked away and as they are not protected by the DAS they are fair game for harrassment.

I could bloody murder him!!!:mad:

I think an application to have the DAS altered can be made, but it's unlikely that the AiB would agree to extending his DAS, and I doubt we could afford bigger payments, £500 per months for 163 months is sizeable by anyone standards!!

I do rate the DAS route it's an excellent way to rid yourself of the nasty wee blighters who harrass you for money - I just wish my husband had been more truthful.

I'd deffo advise anyone to look into it.

I think my husband left it too late to deal with his debts (he still hasn't accepted it) and in all honesty I can see him going bankrupt.

Miss_Poohs

Ohh meant to say - one of the things we were told was if OH ever found himself with a lump sum of money (hysterical laughter, nervous tik) an offer could be made via the DAS to pay off all debts with a one off payment.

i.e. if 4 years down the line we are still paying the DAS and we find ourselves with £30,000 we, or rather he, can offer this to his debtors as full and final payment.

We were told that under those circumstance there is every chamce they would consider it and even possibly accept it.

So thats another string to the DAS route bow

Miss_Poohs

DOH keep remembering things I should have added.

OH owes in total on his DAS £85,000 - £48,000 of which is a loan from NR - don't rule out the DAS

coolcait

Hiya again Miss Poohs

Thank you so much for posting all that useful information. :T I'm sorry, though, that you're having such a tough time of it at the moment

If your OH hasn't already had a word with his DAS adviser, I would really encourage him to do so. His adviser will be able to go through all of the options, especially if you really feel that the DAS won't work anymore.

That said, don't rule out the possibility of varying the DAS programme. If your OH has been paying the other debts, you might be able to put some of that money to the DAS programme once the debts have been included. It's possible that it might not work out that much longer, or that much more per month, than the programme as it stands. Especially once you take into account that the interest will be frozen.

It all depends on the figures - so your OH will have to be completely honest with the adviser (and ideally with you too!!) so that he can work out an accurate plan.

At the end of the day, your OH got onto DAS, even though his programme is longer than usual. If he wants to stay on it, then he needs to get it varied. And, like they say, if you don't ask, you definitely don't get! It might be worth a try...

I have to be very frank with you here though. Are you sure that he had these debts BEFORE the DAS started? His adviser will probably ask that at some point too. He'll also want to know (I guess) why your OH didn't include them in the beginning. If your OH has run up these debts AFTER he started the DAS, then it's a whole different ballgame, I'm afraid.

Good luck!

Miss_Poohs

They were deffo before - he's not got a cat in hells chance of borrowing money from anyone now, or in the past 8 months.

He spun the line that the EGG debt, the loan he's tried to cover up, is nearly finished and thats why he didn't include it. Call me cynical but I don't believe him :cool: .

The DAS advisor was great and Im sure if he could offer an option he would. My biggest problem is my DHs complete reluctance to accept that this problem needs addressing pronto.

brownie1_2

kev1980 wrote: »

If anyone needs help or advice with Scottish Trust Deeds then feel free to ask.

I'm not an expert but I am currently in a Scottish Trust Deed and may be able to answer questions.

hi there - new to site - can you advise

trust deed should have ended june 08 - all payments made on time but IP is stalling as they are looking into an interest free loan i had couple of years back - NOT PART OF TRUST DEED - they are using the new loophole under consumer ccredit act to investigate possible claims on previous loan etc. I was not aware of this until i asked why my deed had not been discharged

Getting no joy from IP as they are not pressing the investigating company - any advice - can they do this??? thanks

kev1980_2

brownie1 wrote: »

hi there - new to site - can you advise

trust deed should have ended june 08 - all payments made on time but IP is stalling as they are looking into an interest free loan i had couple of years back - NOT PART OF TRUST DEED - they are using the new loophole under consumer ccredit act to investigate possible claims on previous loan etc. I was not aware of this until i asked why my deed had not been discharged

Getting no joy from IP as they are not pressing the investigating company - any advice - can they do this??? thanks

I don't understand what your trying to say??

What do you mean by there investigating possible claims on previous loan etc???

Bobger

About to sign trust deed which will cost me £1020 a month half my income thats £36720 into the fund as i owe £47000 do you think this the best option.

coolcait

Hiya brownie

Like kev says - can you explain a bit more about what's going on? It's really not clear at the moment.

coolcait

Bobger wrote: »

About to sign trust deed which will cost me £1020 a month half my income thats £36720 into the fund as i owe £47000 do you think this the best option.

Hiya Bobger

Have you spoken to your local CAB or local authority money advice centre? Or CCCS (ask for someone who deals with Scottish law)? Or anybody independent really?

If you can really afford to pay £1020 per month towards a debt of £47,000, then you could easily get onto a DAS programme (www.moneyscotland.gov.uk), which is like a debt mangement plan, but with protection from court action, and your creditors have to freeze interest, fees and charges. And it's not a form of personal insolvency; a Trust Deed is.

In fact, if you can really afford to pay that amount of money towards your debt, you might not need a Trust Deed or a DAS, or anything else. You might get all the help you need from the Debt Free Wannabe board right here on MSE.

The big question is:

Can you really afford to pay that amount of money towards your debt each month?

If you can't, then the Trust Deed will be dead in the water before it even starts.

Please seek some independent advice/ second opinion, because - on the face of it - this sounds very wrong.