Scottish Trust deed

flip01

Hi there

I am in 30,000 worth of unsecured debt, take home pay £1450 p/m, partner takes home £600 p/m.

3 kids, council house. Monthly payments of debt around £800 p/m, before any household bills or anything are taken into account. This is simply payments on CC and loan repayments. Once I take into account household bills like council tax, rect, electricity, etc, I am left with a negative balance, and I have been getting by solely through cash withdrawals through CC's.

I dont have the confidence to approach all the creditors (there are about 6) and I am considering applying to one of the may companies on the net to apply for a Trust Deed. (similar to an IVA)

None of my debts are overdue.

Any advice? I cant continue at the present rate.

Thanks

Thefunkygibbons

On your numbers, you have £900 a month to pay debts so the time to clear them is managable by yourself

If you post a detailed statement of income and expenses, together with a list of debts, the monthly paymenst and the ASPRs, we will be able to help you pull together a plan

Obviously, you need to change the behaviour that lead to the debts in the first place, but if you are willing,you can get out of this yourself, as many others on this board have

flip01

Hi there
Heres a breakdown.

LOAN 1, £10,000 (RECENTLY TAKEN OUT) Monthly payments £200
LOAN 2, £5,000 2 Years into a 5 year term, probably around £3,500-£4,000 balance) Montly payments $140
CC1- Balance 8,000 Monthly payments around £200
CC2- Balance 3,000, Monthly paymets around £155
CC3- Balance 1,000, Monthly payments around £45
CC4- Balance 4,500, Montly payments around £130

My rent is £194 p/m, Council Tax £130 p/m.
There is also council tax arrears, which are with the sheriff officers, totalling around £3,000. This is my only debt that is overdue. I did offer them £100 p/m, which they first said was unnaceptable, then they asked for a breakdown on the finances, and they never got back to me. That was about 5 months ago, and I made £200 woth of playments to that debt.

expenses.
Electricity- Behind in payments, so it's slighly more expensive than normal. £60 p/m I cant switch, as it's a prepayment meter.
Gas, about £30 p/m
Phone, which is a combination of BT, TALKTALK and Call 18866, about £20 p/m
Mobile Phone for my partner, £30 p/m
Kids school dinners, £6/ day, = £130 p/m
Sky TV, £15 p/m (cut from £42)
Car insurance + Tax about £55 p/m. No payments on car. Owned outright.
Fuel for car, about £65 p/m
Food, about £160 p/m.
Kids clothes, shoes, etc, about £80 p/m (hard to get a figure on it)
Pet food for One dog, One cat & two budgie things- about £25 p/m
I havent included anything like clothing or anything for myself or my parther, it's difficult to figure out what we go through.