Trust Deed or DMP?

Brotybob

My wife and I are struggling to pay debt of around £35,000 owed to about 5 creditors. Currently our income varies enormously and is difficult to predict.

We absolutely want to avoid sequestration/bankruptcy so we see our options are to enter a Trust Deed or Debt Management Plan.

I need impartial advice about the likelihood of being able to hold on to our house which is mortgaged if we enter a TD. We are unsure how much equity we have in our home but at the time of writing we are battling to save it from repossession due to arrears although we have managed to make regular payments of the mortgage but nothing towards the arrears. If we are allowed to keep our home through the Trust Deed can we sell it during the 3 years if we choose? My biggest concern is that we cannot release any equity by remortgaging due to our current problems so will that mean the house has to go?

We need to make a decision soon as the creditor harassment is never ending so I'd appreciate any advice?

Thanks so much.