Trusted deeds is this a fair amount to pay?

weewillywinkie

Hi all me again,

Sorry just seem to have a bee in my bonnet at the mo.

As those who have read my prev threads will be aware my OH is in a protected trusted deed with Invocas i was not allowed to be part of this because i have no income.

Anyway i have spoken to some other debt charities today and they have advised me that i could have been made part of this deed as my OH was already paying my 2 credit cards he would have been seen as a third party paying this :mad: but as a result i am having to now wait on sequestration.

My OH pays £900 pm for his trusted deed which as you can imagine leaves us with very little they have even included Child benefit in with this. i feel that this is a large amount to be paying back as other debt charities have advised that he would only have to pay back aroung £350

There seems to be no one who is willing to advise me on the right way to deal with this in scotland i just feel patronised all the time when all iam looking for is a little support.

Sorry for the rant..............but £900pm

www

Charco_2

Does seem excessive but there is no set amount you should be paying in the TD, like an IVA it is based on what you can reasonably afford!

Your debts could not go in to this TD because (unlike an IVA) there is no such thing as a "joint TD"...

When the Income and Expenditure was drawn up with Invocas, there should have been an allowance made for YOUR debts which would obviously have to be paid. However this depends on your situation too. Effectively your husband would be favouring YOUR creditors over HIS OWN. There is no allowance for this in the law but some sort of common sense should have prevailed... perhaps smart accounting explaining that your husband pays you £x's for housekeeping and the children - which would have been fine if you had been separated but not because you are together... punished for being a successful marriage!

You state that you have no income so for the purposes of a TD when dividing the household expenses in the I&E your percentage would have been nil (or near to it).
Usually the idea would be that you total the incomes and the expenditures and split the Disposable Income between the partners as per their earnings.
(£2000 household income, Mr £1200 Mrs £800,
Disp Inc 400 - Mr £240 Mrs £160)

Obviously this doesn't work in your situation... hard to believe they took the child benefits into account!

Sorry this reply is a bit rambly!

rog2

weewillywinkie wrote: »

There seems to be no one who is willing to advise me on the right way to deal with this in scotland i just feel patronised all the time when all iam looking for is a little support.

We're all 'willing' to advise you, www. Our 'problem' is that, for the majority of us, our experience of insolvency has been gained through the process in use in England and Wales, so we do not feel sufficiently qualified to advise.

I was going to advise you to talk with Scottish Debtline - https://www.scottishdebtline.co.uk - but I see you have, already spoken with CCCS and as SDL are their 'Scottish' branch, then I doubt that the advice would be any different.

I hope you don't feel that what little support we are able to give you is 'patronising' - it is certainly not intended to be so. If I could give you definitive advice, I would.

weewillywinkie

Hi rog2

I am sorry i was not getting at anyone on here quite the oppopsite i fine the advice i get on here very very helpful indeed:T so i am really sorry if it came across like that and pls dont hold it against me.

I was meaning thedebt charites that i have spoken to well one in particular NEW TOMORROW who seem that they want to help you but when they work out that they will not get any money from you they dont want to know.

All i was trying to say( and not making a very good job at it) was there seems to be no one that can advise you of what is going to happen what letters you are going to get and what you should do with them,

Sorry again

www

Charco_2

By the way, YOU DO NOT HAVE TO WAIT ON SEQUESTRATION. Go onto the Accontants in Bankruptcy website (below) and scroll to the bottom of the page to Low Income Low Assets (LILA) and provided you have no assets (mortgage) you can just go ahead with the sequestration.

http://www.aib.gov.uk/MainNav/Services/Legislation/accesstobankruptcy/Debtorsapplication

Please do read around the website and speak to someone for advice to make sure you're doing the right thing beforehand.

I hope this is helpful, I'd almost forgotten to bring this up this but was speaking to someone at work who reminded me of it.

Good luck!

Charco_2

New Tomorrow is a Debt Charity?

New Tomorrow is INVOCAS or someone!!!!! These "Debt charities" (gee there's an awful lot of them saintly guys about working for free!), are just the more seemingly trustworthy sister companies of the main companies in the industry.

weewillywinkie

Thanks Charco

but we do have a mtg £283k (house worth £260k)(secured loan of £83k)(neg equity of £106K:eek:) have spoken to various debt charites and they all suggest the same thing.

Think i will send a mail to the AIB and ask them?

Thanks again

www

rog2

weewillywinkie wrote: »

I was meaning thedebt charites that i have spoken to well one in particular NEW TOMORROW who seem that they want to help you but when they work out that they will not get any money from you they dont want to know.

No need to apologise, www - I, obviously misread your post.

Please be aware that 'NEW TOMORROW' https://www.newtomorrow.com - are NOT a charity - they are a profit driven 'Debt Management Compay' who will only be interested in 'selling you' an IVA, or protected trust deed out of which they will earn a not inconsiderable fee.
Also, be vary wary when 'googling' cccs - many of these 'IVA Factories' choose website addresses that are very similar to those of the Debt Charities.

The only website address for CCCS is https://www.cccs.co.uk/ ,for advice in England and Wales, and https://www.scottishdebtline.co.uk/ for advice in Scotland.

weewillywinkie

New Tomorrow i did speak to them initially as this is who my husbands trusted deed is with, but since then i have spoken to CCCS, Scottish debt advisory centre, my local debt officer(council ) and national debt helpline

www

Charco_2

But CCCS are not exactly a charity either... they have an interest in giving you advice and then sending you to thier associated money making company on the other side of the corridor in the same building. (well perhaps not the same building but you get what i'm saying, it's a cynical way for them to tie up the market!)

Just checked, it a different building "yards away"... they then channel their profits back into the foundation where everyone works for free apparently!

They bring transparency to the industry and charge lower fees apparently...
why would a consumer care about lower fees?
They just pay what they can afford for the duration of the solution, they dont receive an extra bill!
As far as I'm aware, the CCCS was funded by the banks but i'm sure there's no conflict of interest there!

coolcait

weewillywinkie wrote: »

I was meaning thedebt charites that i have spoken to well one in particular NEW TOMORROW who seem that they want to help you but when they work out that they will not get any money from you they dont want to know.

Hiya

New Tomorrow are NOT debt charity to the best of my knowledge. They are a business organisation. So their interest in you will be limited after their original consultation (unless you are financially in a position to sign up with them to a trust deed etc).

If you haven't already spoken to your local CAB or local authority money adviser, please do give it a go. Being local, they'll have more 'hands on' knowledge that even the best telephone adviser.

The amount being paid into the Trust Deed seems extremely high but, unfortunately, as it's effectively a private arrangement between your husband and his creditors (via the trustee) there's not really anywaher you can go to appeal it. But, again, it's another thing you could run past a local money adviser.